The Death of Cash
Jan 21 2020
Will cash disappear? Be sure that your business is prepared with a reliable POS system
It’s 2020, and over the past decades, advancements in technology, medicine, and even language and culture have been rapidly made. And amongst those changes is one that’s very important for businesses: the fast rise of digital payments. If you’re conducting business in this decade, you’ll need to be sure that your business is equipped with a POS (point-of-sale) system that is reliable and that can manage credit card and digital payments quickly.
What Do We Mean By ‘The Death of Cash?’
When we say ‘the death of cash,’ we’re quite serious – many experts are predicting that in the future, cash will be a thing of the past. To be sure, by 2024, global non-cash transactions are expected to surpass the 1 trillion milestone marker. And while a very large percentage of Americans still use cash on a regular basis, this trend could change as younger generations make the move towards digital money.
The Rise in Electronic Payments
More than ever before, people are starting to pay for things with digital forms of payment, such as credit cards, on a regular basis. Indeed, there are even those who never carry cash. Further, it’s estimated that just about 50 percent of millennials have used mobile payments, a trend that is expected to grow in the coming years.
While it’s unlikely that cash will be completely eradicated any time soon, there’s no doubt that as things become more digitalized, transactions won’t be left behind.
Be Sure Your Business Is Prepared with a POS System You Can Count On
The popularity of digital payments and the fact that more consumers than ever before are using credit cards, digital payment options like Apple Pay, and online payment systems mean that if your business doesn’t have a POS system that can handle the demand, it’s likely to suffer. Customers expect convenience, efficiency, and speed when they want to buy something; delays like slow processing times are seen as unacceptable.
One Source pos, Inc. Can Help
At One Source pos, Inc., our team can help your business to keep up with the demand for non-cash payment options. Not only do we provide POS systems for businesses of varying types and sizes, but we also offer free equipment and account set up, no long-term fees, low-interest rates, and 24/7 support.
To learn more about the rise in digital payments and how our experienced team can help your business get set up with a trustworthy POS system, call us today or send us a message.