With a well-integrated POS credit processing software, businesses may see multiple advantages coming their way. The so-called "cashless society" might not be here yet, but there are more immediate benefits to encouraging card payments, if small businesses don't already.
It should be no surprise that many consumers favor card payments over paper money overall. A recent Gallup poll showed that that the majority of Americans (62 percent) believe they will see the U.S. transition from cash altogether within their lifetime.
In addition, 42 percent of national adults are comfortable not having cash with them, at any given time, and the number is even higher for consumers between 18 and 29. Among these younger spenders, the median amount of cash they like to keep on their person is "0."
To businesses that only accept card payment, it might already feel like cash is a thing of the past. However, this just scratches the surface of what a cashless future could be like. Depending on how it happens, dropping regular cash use could theoretically lead to faster payments and easier transactions.
Perhaps most importantly for businesses, just accepting digital payments could mean a more unified POS system. Without cash, operators could potentially process transactions more simply and glean relevant data from them inside a single, intelligent POS system.
Though it may not be clear if going cashless will be feasible in the longterm, the more immediate question may be: how well can your business handle card data in-store? Verified credit card processing software can help business owners stop worrying and process payment information quickly. Along with that, 911 Software also offers high quality customer service for anyone in need of better advice for new software.