Credit Cards Preferred: Cash To Decline to Just 23% of Purchases

Posted by stillwagon428 under Finance
From http://smallbiztrends.com 4126 days ago
Made Hot by: Entrepreneurosaurus on August 8, 2013 12:53 am

You know the old saying: “Cash is king.” But with cash transactions in decline, “Plastic is preferred” would be a more accurate adage these days. In 2011, cash transactions made up 27 percent of point of sale purchases. By 2017, that number is expected to plunge to 23 percent.

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Comments

Written by lyceum
4126 days ago

I understand if some small business owners don't take credit card payments due to the charges with fees and other related costs with having a card terminal, etc. But with smart mobile payment solutions, e.g., Cube, Square, iZettle, it will be easier for the vendors and not a such high entry investment as in the past.

As a personal side-note: I look forward to the day when I visit America again and give 1 American silver dollar (1 troy ounce) as a tip for a great service at a restaurant, coffee shop, etc.

"silver is the money of gentlemen" - Norm Franz.

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