Posts Tagged cash

For Many Small-Business Owners, a Necessary Shift to Digital Payments

For Many Small-Business Owners, a Necessary Shift to Digital Payments

The number of Americans who say they are “cashless” has jumped in the last five years. Forty-one percent of Americans said they did not use cash for their purchases in a typical week in 2022, up from 29 percent in 2018, according to a Pew Research Center survey released last October.

Small-business owners increasingly are making the switch to cashless payments for several reasons, including rising consumer demand, faster checkout, lower labor costs and increased security. Those who wait risk losing revenue, experts say.

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