Research from Barclaycard reveals small and medium enterprises (SMEs) in the UK are losing out on hundreds of pounds a week - £7.5 billion across the country each year - by not offering customers the option of paying by debit or credit card.

Only 42% of SMEs currently offer customers the option of paying by card, despite card spending more than doubling in the last decade.

Barclaycard has introduced 'Barclaycard Anywhere', a new mobile point of sale solution to help meet customer needs to pay on card.

Philip McHugh, CEO of Barclaycard Business Solutions, said: “Barclaycard Anywhere is a simple, low-cost portable solution which will appeal to many SMEs enabling them to accept secure card payments on the spot, helping ensure they don’t miss out on sales. Having quick and easy access to vital sales information such as payment trends and performance data will also enable time-strapped business owners and staff to quickly learn about their customers’ buying behaviour. The insights they gain will be invaluable in helping them become more successful.”