Businesses can no longer get by without accepting some form of plastic: By 2017, just 23 percent of all point-of-sale purchases are expected to be made with cash, according to a study by market research firm Javelin Strategy & Research. That means more than three-quarters of transactions will be conducted with credit and debit cards.
Businesses that only accept cash will quickly find themselves losing sales to competitors that are equipped to handle credit and debit card payments.
While transitioning from a cash-only model to one that allows consumers to pay with plastic might seem like a difficult task, there are a number of services that make it rather simple. Whether it’s one-stop shops like merchant account services or mobile payment processors that allow businesses to conduct transactions from their smartphones, giving customers payment-method options has never been easier. (articular by Chad Brooks, BusinessNewsDaily May 12, 2014).
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