Why listening to your customers matters: highlights from the myPOS Annual Customer Survey

Business tycoon Richard Branson once said, “Success comes from listening to your customer,” while Kate Zabriskie mentioned, “The customer’s perception is your reality”. In this day and age, listening to your customers is a number one priority; this is what we advise our merchants and this advice we followed ourselves. Earlier this spring, we decided to embark on a journey in which we asked our customers, and listened to what they had to say with the aim of not only helping each merchant have a better experience with myPOS, but also to help their business grow.

We were flattered to learn that most of our merchants found out about us through word-of-mouth recommendations. What better ambassadors can we dream of than our own customers! New clients also found us through a Google search, our social media channels, through a distributor/reseller, by seeing a myPOS device in use or reading an article about myPOS. The taxi and transportation industry had the highest number of word-of-mouth recommendations at nearly 50%, while almost 40% of merchants in the hotel and accommodation industry used Google to help them find myPOS. 

Once they found myPOS, it was interesting to see what attracted merchants to our product and service offering. The top three reasons were the absence of monthly fees and binding contracts, instant settlement of funds and the affordability of the POS terminals on offer. Other reasons included the attractive transaction rates, free merchant account and IBAN, free business card, personal recommendations, positive reviews and other reasons.

We at myPOS offer a wide range of products and services to our merchants and not every product will be suitable for every merchant or their industry. However, it’s always important to know what options they have available to them in case they wish to make changes to their business at a later stage. This is why when asked “which of our products/services do you know about already?” more than half of the merchants surveyed responded that they knew of the Payment Request functionality and about our Platinum business cards. Some of the many great added-value services we’re really proud of! 

As a card processing company, it was natural to ask our merchants questions about their card acceptance activities at their business. In this regard, we found that just over a third indicated that card payments are still under 50% of all payments their business takes. However, nearly 20% stated that their business is almost cashless.

Of course, we asked our merchants for suggestions on how to improve our services and we will make sure to make the best use of all recommendations for expanding into more locations and more integrations, adding new value-added services and continuing with our app improvements. 

To wrap up, we also wanted to get an overall feel of how satisfied our merchants are with us and we’re pleased to report that a whopping 90% answered that they were satisfied. At this juncture, we’d like to extend our sincere thanks to all merchants who took the time to take our survey. We not only look forward to being of better service to you in the future, but also helping your business grow!

Highlights:

• Our merchants in the UK mainly found out about us through a Google search, were recommended to us and also found out about us through social media and read an article about us.
• When asked what made them choose myPOS as their payments provider, the top three reasons were the affordable prices of our card machines, the reasonable transaction rates and instant settlement of accepted payments.
• Most myPOS merchants in the UK found that opening an account with us was very easy. 
• In the UK, nearly 60% of merchants already know about our Platinum business cards and while over half know about our Payment Request functionality.