We all know this struggle – you’re ready to check out at a store with a full cart, you reach the cash register, and there it is: the dreaded “cash payments only” sign. Carrying a wallet full of bills and coins isn’t the most convenient option these days, and thankfully contactless card payments are becoming the norm. And for the businesses which can’t afford card terminals just yet, the Cashless Poland foundation has come to the rescue.
The program will provide each qualified business with up to three free terminals for a full year of sales. Cashless Poland has decided to qualify businesses which own up to 5 retail outlets, and haven’t had access to cashless payments for their products and services throughout the past 12 months.The foundation is looking to invest around 600 million Zloty throughout the time period of three years in order to increase the number of terminals in Poland by half a million.
The goal? The stimulation of the Polish economy by providing aid to the Polish commercial space, modernizing the industry, and attracting new clients.
According to the experts from the Cashless Poland Foundation, the country has a shortage of as many as hundreds of thousands payment terminals. This number comes from comparing the current number of terminals to the amount of cash registers used in Poland, as well as juxtaposing the ratio to other EU markets.
The solution is not short of long term advantages for the businesses either. Cashless payment converts may observe an increase in revenues due to winning the favor and loyalty of client due to the convenience of payment terminals.
Moreover, terminal payments are much faster due to the fact that cash register workers don’t have to waste time counting the cash or change, and thus can process a larger number of sales in the same amount of time. Terminals also eliminate the need for investing in security measures for the takings, including the bank transfer costs, as the money goes directly into the account. By eliminating all of these factors, the entrepreneur can focus on what’s important – generating more revenue for their company.
The Polish economy is becoming increasingly cashless, and consumers are getting used to the convenience of the Internet era. Providing modern payment forms shows that a business responds to their expectations, and moves with the times. Cashless payments increase competitiveness of individual companies, and in consequence, that of the national economy, carrying it into the digital age – says Mieczysław Groszek the COB of the Cashless Poland Foundation.
Cashless Poland’s program will be open for the next three years, as the foundation is planning to close its doors by the end of 2020. If the program sounds like something your business could benefit from, don’t hesitate to check out the foundation’s website.
