Is cash becoming a dinosaur? Credit and debit cards are now being used more and more instead of cash...
Are Credit and Debit cards replacing cash?
It’s incredibly important for small and medium sized businesses to accept credit or debit card payments for the simple fact that it will help them sell more.
They will become more successful if they do so and that’s really driven by the fact that consumer behaviour is changing very, very rapidly.
We’re seeing more and more that credit cards and debit cards aren’t just for specific purchases, but becoming the way people pay for everything, be it riding on the tube or taking the bus, to coffee, to taking a vacation or very large investments.
So we’re really seeing that behaviour take off and that’s part of a bigger trend which is as payments technology really takes off and becomes better and more innovation and more competitive, which is an advantage to consumers and merchants, the bottom line is that cash is going to get replaced faster and faster by different means, and credit and debit cards will be at the heart of that trend.
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