New research from Blink Payment reveals rise in out-of-hours business payments

New research from Blink Payment reveals rise in out-of-hours business payments

New research by UK paytech platform Blink Payment has revealed how paytech innovation is driving a surge in the popularity of out-of-hours business payments.

Blink Payment‘s data shows that nearly a quarter of UK business payments are now made out-of-hours (outside of 9am – 5.30pm).

Traditionally, payment methods such as virtual terminals or POS systems restricted the ability for retailers and businesses to make sales or generate revenue out of working hours. However, the latest round-the-clock paytech systems, including open banking and payment links, ensure businesses are increasingly less reliant on legacy payment collection methods that need to be manually operated during working hours.

Blink Payment’s research reveals that from January to December 2024, on average, 23% of payments across a wide range of sectors – including retail, construction and professional services – were made outside of regular business hours, with payment links proving especially popular amongst out-of-hours customers.

Moreover, this latest research shows an 88% success rate for payments taken out-of-hours – a small increase on the daytime figure of 85%. The security offered by innovative paytech solutions means that retailers and businesses can take advantage of round-the-clock sales, without increasing the risk of failed payments.

Ben Cohen, Co-Founder and CEO at Blink Payment, said, “Our data on out-of-hours payments highlights the very tangible impact that payment technology is how and when businesses are being paid. Through new technologies such as payment links, businesses can now continue making sales around the clock.

“We know from our data that both retail and business customers prefer to make purchases or settle invoices outside the working day; yet many businesses still rely on restrictive payment methods such as over-the-phone payments or card machines, that only work during office hours. It’s our mission at Blink Payment to provide businesses with the latest paytech innovations so that they can maximise sales at any time.”