NFRN London North West branch secretary Ravi Raveendran has urged stores to reconsider their approach to card payments in light of the coronavirus pandemic.

The owner of Colombo Mini Mart said he had saved £69 per month through the NFRN’s Barclaycard deal. “This will allow me to remove minimum transaction levels and accept credit cards. It’s important as many customers are entering local shops for the first time – they expect the same service as in the supermarket.”

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He advised stores to compare the small print of card payments agreements against their customer profile. “I have a lot of builders, students and tourists near my store, so it’s about more than the usual charges,” he said.

He said construction workers – many of whom are self-employed – use business cards charged at up to 1.8% while additional international transaction fees on overseas students and visitors’ cards means up to 2.5% is lost in fees.

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He claimed Barclaycard’s low Visa rate is balanced by higher charges for Mastercard customers. “Most high street banks are Visa, but many online ones are Mastercard, so if you’ve got a lot of students, you need to factor that in,” he added.

Barclaycard charges those that complete a self-assessment £4.80 per month, while those who fail to do so are billed £15 per month.

Find out more on our coronavirus information hub for retailers