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Big Issue goes chip and pin

Friday, November 29, 2013 - 01:08

Nov. 29 - A former homeless person turns entrepreneur to become the first seller in Britain of homeless magazine, Big Issue, to accept card payments with his own chip and pin machine. Hayley Platt looks at how it has improved sales.

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++RESENDING WITH CORRECTED VIDEO IN LAST TWO SHOTS++ It's strictly been a cash only business. Until now. Once homeless, Simon Mott has turned entrepreneur after investing in a chip and pin machine to sell the Big Issue. The magazine helps those homeless earn their own living and get them off the streets. (SOUNDBITE) (English) SIMON MOTT, BIG ISSUE VENDOR, SAYING: "Basically I was finding a lot of my customers were coming up to buy the magazine but they wouldn't have change on them or no cash at all or they would try and offer you higher denominations, like twenty pound notes that I wouldn't necessarily have change for, so I thought there has to be a way round this." Simon bought a card reader by Swedish company iZettle. It effectively turns your smartphone into a mobile card terminal. His investment soon began to pay off, boosting sales by 10 percent. (SOUNDBITE) (English) SIMON MOTT, BIG ISSUE VENDOR, SAYING: "Some people like the idea of paying by card. It saves me carrying the cash, it is in my bank account within three days so it is very beneficial." It's also safer. The Big Issue says one in three of its vendors are mugged at some point. Simon is the first Big Issue seller in Britain to offer a cashless payment system. But he's unlikely to be the last. The Big Issue says its looking into supplying more of its sellers with similar devices.

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Big Issue goes chip and pin

Friday, November 29, 2013 - 01:08