Micro-merchants - how beepaid could help you

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Micro-merchants - how beepaid could help you

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Micro-merchants are the backbone of the UK economy, accounting for 96% of all businesses in 2019, and yet it’s a world that’s often misunderstood.

So, before we go into how takepayments can help micro-merchants get paid, let’s strip it right back and look at what being a micro-merchant really means, as well as the challenges they face when it comes to payments.

What is a micro merchant?

According to the business statistics briefing paper released by the House of Commons in July 2020, a micro-merchant, also known as a micro-business, is any business with fewer than 10 employees. 

For the majority of micro-merchants, their business activity typically involves smaller, lower-value transactions, with some sources defining a micro-merchant as a business which handles less than 100 transactions per month. Here are all the stats:

  • In 2019 there were 5.6 million micro-merchants in the UK.
  • They make up the vast majority of businesses in the UK - 96% in 2019, to be precise.
  • Microbusinesses account for 33% of employment.
  • They make up 22% of UK turnover.

In spite of the numbers demonstrating what a crucial part of the British economy micro-merchants accounts for, they’re still left struggling for options when it comes to taking payments - something doesn’t add up.

The pain point for micro-merchants: payments

Up until fairly recently, micro-merchants have drawn the short straw when it comes to the payment processors available to them. 

The likes of high equipment rental costs, service fees, and transaction fees have traditionally left micro-merchants with little option other than to accept cash-only payments.

Clearly then, something needed to change, and here at takepayments we’re all about helping small businesses reach their full potential - and that’s why we developed beepaid.

The solution: beepaid

If you’re a micro-merchant and the above pain points sound all too familiar, we’re very pleased to tell you there’s a light at the end of the tunnel.

Our brand spanking new payments app is the perfect solution for micro-merchants wanting to offer their consumers the ability to pay by card while avoiding hefty fees and costs.

There’s no need for any special equipment with beepaid, just your mobile phone - here’s how it works:

  1. You raise an invoice within the app and enter your customer’s details, which sends them a link
  2. They bob in their payment details
  3. You get paid.

Simple, right? There’s no cap on the transaction amount and you can take payments from anywhere in the UK. Plus, the funds can land in your account the next banking day.*

We hate the idea of micro-merchants being priced out of the market when it comes to their payment solution, and that’s why our beepaid app is so reasonably priced too.

Extra benefits of beepaid

Besides the obvious issue of cost, the perks of a mobile payments solution like beepaid are far-reaching and could have a positive impact on many areas of your micro-business:

  • It helps you stay organised - all the information you’ll need to keep track of payments and accounting are in the palm of your hand.
  • You can chase payments - wave goodbye to the awkward process of chasing overdue payments, with beepaid you can do it at the touch of a button.
  • It’ll save you time - no more painstaking invoicing and accounting at the end of a busy day, you can do it all on the go.
  • You’ll be helping the environment - moving to mobile means you’ll save paper.
  • It’s safer - safer payments have never been more important than in 2020, and with an app like beepaid there’s no need for any human contact during payment.
  • You’ll give your customers the convenience they want - consumers today demand convenience and if you can’t offer it there’s a good chance it’ll negatively impact their purchasing decision. 
  • It could help boost your bottom lines - the UK is becoming an increasingly cashless society with fewer and fewer consumers carrying cash and card payments on the up. By giving consumers the option to pay by card, you’ll be sure to never turn a paying customer away again.

Here at takepayments we’re super proud of beepaid because we know it’ll make the lives of small business owners and micro-merchants easier, and helping businesses thrive is our bread and butter.

If you like the sound of beepaid things are about to get even better for you; we don’t charge joining or exit fees, you’ll get access to our specialist joining team who’ll hold your hand throughout, and we offer short 12-month contracts, so get in touch today! The number’s 08082 392658.


**Providing you perform your banking window before 9pm you will receive full settlement the next banking day. This service is only available to takepayments Limited customers who have Barclaycard as an acquirer. Ecommerce pay pages, pay by link and virtual terminals are currently settled the day after the next banking day.

Bryony Pearce

Bryony Pearce


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