Futureproofing small businesses
The technology behind how people shop is constantly changing and improving. As customers expect to pay conveniently, easily, and securely, small businesses must be digitally enabled and able to provide a seamless customer experience.
With 89% of Visa in-store payments now contactless in the UK, we ensure that businesses of all sizes are plugged in and ready for the next generation of payments4.
We offer small businesses the opportunity to benefit from our massive investment in innovation and technology – over £7bn in the past 5 years - enabling them to keep pace with ever-changing consumer needs, ensuring that everyone is able to pay and be paid according to their preferences. Our products include Click to Pay which makes online shopping quick and convenient with customer details automatically pre-populated securely.
Providing world class protection
Small businesses expect a high level of security from their payment providers, and they know they can rely on us because we stand behind every Visa transaction. That means our market-leading security and fraud protection, with 99.999% availability, is supporting them every minute of every day.
In 2022 alone, our fraud prevention capabilities helped stop more than £22 billion in attempted fraudulent transactions for merchants and financial institutions. Fraud rates on cards continue to fall, with incidents occurring in less than 0.1% of transactions on our network, among the lowest of all payment forms.
Then innovations such as Tokenisation and 3DS, pioneered by Visa, provide an extra layer of protection against fraud, making the payments process more secure and seamless for both small businesses and their customers. Recent analysis of more than 8,600 issuers and 800,000 merchants, showed that fraud rates with Visa tokens are 3 times less than other payment methods5.
As a longstanding champion of small businesses, we have witnessed firsthand the positive impact that thriving small businesses have on both the wider community and local economy. So, we will continue to do all we can to help small businesses, equipping them with the tools, confidence, and security they need to grow in a digital world.
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1European Commission, Entrepreneurship and small and medium-sized enterprises (SMEs)
2Federation of Small Businesses, UK Small Business Statistics 2022
3Digital Transformation of SMEs: The Future of Commerce, Refers to card, including debit or credit, and mobile payments.
4VisaNet data – September 2022
5Fighting fraud to help small businesses grow | Visa Navigate, VisaNet token vs. non-token card not present fraud (March 2022) and authorisation rates (May 2022)