Majority of UK ecommerce SMEs report service points with Funds Service Suppliers – however concern switching, finds survey

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  • Solely 5% of UK SMEs don’t have any difficulty with their present Fee Service Supplier (PSP)
  • Greater than half of SMEs (52%) are pissed off by sluggish response instances
  • Worry (29% fear about adoption prices), uncertainty (31% fear a change will impression CX), and contract lock-in (28%) are stopping UK SMEs from switching PSP

London, UK, 03 March 2022: Mollie, one of many quickest rising fee service suppliers in Europe, at the moment shared preliminary findings from a survey inspecting the state of the UK ecommerce sector, by the lens of small and medium-sized (SME) retailers. The evaluation of the 500-strong consultant cohort reveals an absence of proactive recommendation and help from Funds Service Suppliers (PSPs) but in addition a concern of switching.

Greater than half of SMEs (52%) reported being pissed off by sluggish response instances. Almost two in 5 (39%) complain that communications strategies should not acceptable to their wants, and over a 3rd (35%) say that their greatest frustration with their PSP’s customer support is the dearth of difficulty decision. Over one third of companies surveyed have unresolved points and a staggering 95% of these report service points – simply 5% had been utterly glad with the service they obtain.

Majority of UK ecommerce SMEs report service issues with Payments Service Providers

Majority of UK ecommerce SMEs report service points with Funds Service Suppliers

Within the final two years a 3rd (34%) of UK SME ecommerce retailers have switched PSP and an extra 37% have thought-about switching. Solely 12% have by no means modified and 9% have by no means even thought-about it. The primary causes for switching, or contemplating a swap, are value, complexity and poor buyer help, however there are a variety of things that forestall switching.

Uncertainty surrounding the potential impression on buyer expertise (31%), concern of the prices of adopting new expertise (29%), and problems with switching (28%) are the important thing components stopping UK SMEs from switching PSP. Additionally rating extremely is the sensation it’s too dangerous (23%), an absence of inner abilities to handle the change (18%); and integration considerations (28%). For nearly a 3rd (28%) of UK SME ecommerce retailers, contractual lock-in was a significant factor stopping switching.

“UK SMEs are quietly dissatisfied with their fee service suppliers, accepting and dealing round unresolved issues and unresponsive help. Worry, uncertainty and lock-in forestall them from switching,” says Josh Guthrie, Mollie’s UK Nation Supervisor. “Amazon already accounts for greater than 30% of UK ecommerce gross sales and it will intensify, threatening UK SME development ambitions. UK SMEs deserve higher – they want PSP companions with hosted onboarding to ease switching, a superior checkout expertise to drive conversion and devoted buyer help that may assist SMEs compete and develop, not simply course of their funds.”


This report is predicated on a web based survey of 500 UK SME retailers with ecommerce actions producing between £500,000 and £25m in income per yr. Respondents had been both members of the service provider’s ecommerce senior decision-making staff, or the ultimate decision-maker. The survey was accomplished by Coleman Parkes between December 2021 and January 2022.

About Mollie
Mollie is a pioneer within the funds business and considered one of Europe’s fastest-growing fee service suppliers (PSP). Based in 2004, the agency facilitates firms of all sizes to scale and develop with an easy-to-use funds API that gives a number of fee strategies. Mollie’s mission is to simplify advanced monetary companies to turn into the world’s most cherished PSP.

Mollie has over 125,000 prospects in Europe and a global staff of greater than 700 staff. It has places of work in Amsterdam, Kiel, Lisbon, London, Maastricht, Munich, and Paris.

Mollie | Develop your means.

PR Contacts
CCgroup, on behalf of Mollie
[email protected]


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