Follow Us: Small Business Tip of the Day: Plastic Power

According to a survey from online payment solution WePay, cash is going the way of the dinosaur when it comes to consumers’ preferred payment method, and using credit cards is gaining in popularity. By 2017, WePay predicts payments made using cash will account for only 23 percent of shoppers’ payments, while credit card purchases will increase to 33 percent of payments. The average age of the consumer makes a difference in their preferred payments, with younger consumers wanting more flexibility. Some 69 percent of consumers between the ages of 18 and 34 say they will only shop at businesses that accept a variety of forms of payment.

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