Survey points to Cash-Free Future; Rise in need of Credit Card Processing Services
According to a survey conducted by MasterCard with more than 1,000 adults participating, three out of four Americans, or to be more specific, 73%, agree that they use far less cash than they did about 10 years ago. The survey was built around the idea of gathering viewpoints in regards to the increased use of credit cards and other forms of electronic payment. Clearly, merchant account services are going to be on the rise.
The survey showed that most Americans weren’t all that jazzed up to deal with cash anymore. They listed the most annoying cash situations as 63% for dealing with crumpled bills not being accepted by vending machines, 40% irritated by the length of time it takes a check to clear, 40% said it was vexing to wait for people to find exact change and 29% were frustrated over never having time to go to the ATM.
As reported by BusinessNewsDaily, group executive of global debit at MasterCard Worldwide had this to say: “Commerce has changed dramatically over the past decade, thanks to the Internet and e-commerce, and this survey underscores that Americans are already shifting toward a cashless society.”
This leads most to the conclusion that credit card processing services are going to see a huge surge of business over the next few years as fewer people continue to carry cash.This entry was posted in Credit Card Processing, Credit Card Processing Services, Ecommerce, Money. Bookmark the permalink. ← Pros and Cons of Accepting Credit Card Payments Proper Encryption could have prevented Massachusetts’ high number of identity theft reports →