Payments Podcast Is Time Well Spent
Establishing a business in 1990s Ireland presented a very different transactional experience to today’s fast payments environment. When Managing Director Anthony Gallagher founded Petstop in 1995, sales were 90% cash and 10% cheques and credit cards. Almost three decades later, not only has Anthony’s business pivoted to online but the in-store transactions are now predominately card transactions.
Thirty years ago businesses didn’t have access to nextday settlements, credit cards were manually processed, and cheques could take up to two weeks to clear. Fast forward to today and we are living in a world where payments and payment solutions have revolutionised the ways we do business. Irish people are one of the fastest adopters of new payment technologies and now expect a service that is accessible, frictionless and convenient.
In a new podcast from AIB Merchant Services, we explore how businesses use payment technology to expand and deliver an exceptional customer experience both online and in-store. The Time Well Spent podcast delves into the experience of Irish SMEs and corporates, as we invite them to share how they embrace new technologies to grow their businesses both globally and locally.
In our first episode of the Time Well Spent, we invited Anthony to share his experience of how payments technology is playing a major role in the future of his business. From growing his first bricks-and-mortar store to now operating multiple shops nationwide, to the expansion of his online business propelled by a conversation with his daughter, who was living in Wuhan, China, just before the Covid outbreak.
For Anthony, it’s the omnichannel offering facilitated by AIB Merchant Services that is a “game-changer”. Payments technology has not alone helped him to have a better understanding of his customers’ needs but also how they can use this information to scale. “AIB Merchant Services will listen to you and take it on board, and if it’s a good idea they will try and run with it,” he explains. “And that’s the partner you want. We’re a small business and our partners are with us on the journey.”
Petstop’s rapid ecommerce growth since the pandemic, with online sales expanding from 10% to 30% almost overnight, and cash now accounting for a mere 5% of sales, has fuelled plans to double the company’s turnover in the next five years. He tells the Time Well Spent podcast: “Over the 28 years we have made lots of mistakes, but we’re still here. We’re in a
market leadership position, we have a vision, and we are only 10% on the journey.”
Join us to explore how ecommerce, the digitalisation of payments and improvements in online security have helped to shape the modern age of transaction technology. In this series powered by AIB Merchant Services, we tell the stories of business leaders who have embraced digital technology and understand how vital it is to ensuring their business is moving forward.
We also hear from a range of AIB Merchant Services payment solutions experts, who will shed light on the ever-changing world of payments technology and what this can do for you and your business. Topics discussed span improving operational efficiency to managing cash flow, facilitating better security, business continuity, and customer experience,
Mícheál Ó Gruagáin, Head of Ecommerce at AIB MS, explains how flexibility and innovation are key in a world where there must be a seamless integration between a business’s high street presence and its online offering.
“We develop with an eye to the future at all times. Whenever 1% of the customer base is ready to try something, we need to be there,” he says
You’ll find the Time Well Spent podcast’s first episode featuring Anthony Gallagher of Petstop from March 25 on all major podcast platforms.
For more information about how AIB Merchant Services can support your business payment needs, visit aibms.com.