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

Posted by stillwagon428 under Finance
From http://smallbiztrends.com 3907 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.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by lyceum
3907 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.

- 0 +