What does going contactless mean for the tipping industry?

In recent years, cashless alternatives to payments have become more and more common, with more people turning away from cash in favour of other electronic payment solutions. In the UK, the use of cash has fallen from 50% of payments in 2010 to just 17% by 2020.

Due to the significant decline of cash use in recent years, contactless tipping is on the rise for all hospitality and service businesses. Don't lose out on collecting tips, have a tipping platform for your business to ensure staff are earning as many tips as possible. 

Rise in cash vs card payments, and what does that mean for tipping?

Even before covid, cash was on the decline with more and more people opting the contactless route. Covid certainly accelerated this trend with and in 2020,  In 2020, more than 13.7 million UK consumer abandoned cash to to go contactless/card payment entirely! 

Many businesses that were previously accepting cash tips found themselves at a disadvantage if they were unable to accept contactless tips. In a time where cash use is being limited and consumers are choosing contactless, businesses without the ability to easily collect, track, and distribute tips from contactless, Apple Wallet and more, will lose out on tips. 

What does the future look like?

Now considering only 21% of UK consumers  use cash, we'd say the future is digital! By the end of 2023, cash is forecasted to amount for a mere 6% of all payments in the UK. Although the shift towards cashless alternatives was turbo-charged by the pandemic, it was still seemingly inevitable. Don't fall behind, ensure you have the right tipping solution in place!

With the latest government law that makes it illegal for employers to withhold tips and service charges from staff, it is important for all hospitality and service business employers to identify a way to account for and distribute these contactless tips fairly, transparently and quickly. That is where EasyTip’s innovative tipping solution comes in. EasyTip’s contactless tipping platform allows for the quick and easy collection of electronic tips.

Customers can send contactless tips directly to their chosen recipients in as little as 3 seconds. There is no need for employee or management admin, so they can spend more time on other important aspects of business.

Why is electronic tipping, with EasyTip, the best way to protect your tips?

For EasyTip, it is important that staff members in the service and hospitality industries are not negatively affected by the acceleration of cashless alternatives. With EasyTip, all staff members are assured that they can still receive the well earned tips that they deserve and can expect to increase their tips by up to 30%. The electronic tipping, with the use of mobile phones and a QR code, offers customers a solution to tipping when they aren’t carrying cash. Many businesses share in the values of EasyTip and have signed up to the contactless tipping platform to help knock down barriers to tipping that a cashless society has imposed.

With cash falling out of favour for many, it is important for businesses to adopt a contactless tipping solution that allows for the distribution of tips easily, fairly and transparently. EasyTip is the leading contactless tipping platform that can achieve exactly that.

Your business may benefit from our contactless tipping platform at no cost to you. So, why not sign up today for free? It’s quick, easy and free to join. Get in touch with us and we will be delighted to help you get connected to our electronic tipping platform