In exciting news, Square has been awarded Canstar’s 2021 Most Satisfied Customers – Merchant Services Award for the first time.
Canstar surveyed more than 2,000 Australian businesses to uncover how satisfied they were with their merchant services provider, as well as how happy they were with specific aspects of their service, such as speed of services and transactions, customer service and device functionality.
The businesses surveyed ranged from sole traders to those with up to 200 employees, and included those who traded in standalone stores, shopping centres, home offices and online.
This year, there was a significant increase in the number of businesses using Square. Within Canstar’s survey, the amount of customers using Square doubled year-on-year. This was primarily driven by small businesses with less than five employees, Canstar’s researchers found. Square’s expansion in the consumer payments space has also likely been helped along by the current climate and the need for small businesses to accept cashless payments.
Canstar found that Square’s customers were the most satisfied with the service they have received. Square received a high overall satisfaction score from its customers, as well as performing well across factors such as speed of services and transactions, customer service, device functionality, online reporting, fees and charges, and reliability.
What drives customer satisfaction for merchant services providers?
This year, speed of services and transactions had the greatest influence on overall satisfaction for the businesses surveyed (27%). This was followed by customer service (23%), device functionality (21%), online reporting (11%), fees and charges (10%) and reliability (8%).
Canstar’s customer satisfaction awards are designed to complement their Star Ratings and Awards, which are calculated by Canstar’s expert researchers. If you’d like more information about how Canstar’s Customer Satisfaction Awards are determined, read their methodology.
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