Top Payment Methods Accepted by Bristol Businesses

Bristol’s residents no longer have to carry cash if they don’t want to. The businesses in the city have welcomed new and modern payment methods that allow seamless and contactless payments – starting with PayPal.

PayPal is an online payment service that serves as an electronic alternative to traditional paper methods. Nowadays, it’s accepted by an incredible number of businesses, such as retail stores and restaurants. There’s even a growing number of online casinos accepting PayPal, which goes to show how big of a reach this payment solution is having.

Statistics show that PayPal has an 82% usage rate in the UK, and with two-thirds (66%) of Britons using their mobile for online purchases, it’s safe to assume that PayPal is one of the most widely used payment methods in Bristol.

Direct bank transfers closely follow PayPal in terms of popularity. About 90% of the UK’s residents pay some of their bills with direct bank account transfers, and this form of payment is particularly popular among service businesses. Thus, it’s not unusual to see a person using this form of payment for their gym membership at Bristol Uni or PureGym or any other service that comes with a monthly fee.

In 2022, there were 4.7 billion payments made by Direct Debit, placing this payment method at the top of the list of the most trusted payment models.

When it comes to Bristol’s youth, digital wallets reign supreme. Google Pay, Apple Pay, and Samsung Pay have all become indispensable when it comes to making quick and safe transactions. Since younger age groups are the most interested in digital wallets, places that consider them as target audiences have made an effort to facilitate these payments.

Thus, it’s not surprising to see hot dog restaurants and cafes like the Bristol Beacon in the heart of the city joining the hype and integrating digital wallets into their business model.

Moving on to Stripe – a payment service that facilitates payments for businesses of all sizes. What’s so special about Stripe is that it’s a payment solution Bristol’s residents can use to make international purchases. This payment gateway has global payment features with zero monthly fees, so it’s a cost-effective solution. However, Stripe does have UK transaction fees of 1.5% + 20p, and it’s best used in tandem with credit/debit cards and digital wallets.

For transactions that are made outside of the default currency, the payer would be looking at a 2% conversion rate fee.

Ultimately, it’s impossible to forget about the most iconic payment method that people of all generations use – credit/debit cards. From street food carts to historic pubs, credit/debit card payments are almost always accepted. They come with many benefits, such as fast and seamless payments, enhanced security, CashBack points, and many more. Some card issuers even give exclusive airport lounge access once you spend a certain amount of money. Best of all? Apart from being very convenient to use, credit and debit cards are something people are familiar with.

There’s no learning curve involved, so you can start swiping immediately.