With a huge number of consumers choosing a card and digital wallet payments for the sake of convenience and efficiency, many small businesses – who till now have avoided taking the cashless route due to processing fees and a deep-rooted fear of the digital process itself – have a hard decision to make.
Going cashless does not only affect the daily running of a business, but also the profits generated. It paves the way for a better consumer experience, gives your business more credibility and legitimacy, and improves efficiency by speeding up transaction times. Of course, accepting card payments also saves merchants a whole lot of time that they would otherwise have had to spend on operational tasks such as transferring, counting and managing all that cash every day.
We may still be a long way away from becoming a cashless world, but the journey is certainly on. If you are still conflicted about taking the cashless route, don’t forget to check out this amazing new infographic from Total Processing on the pros and cons of accepting card payments, how you can go about implementing digital payments for your business, and common obstacles you may face in doing so.