Since the inception of cashless transactions, businesses have been hesitant to adopt card payments. The prime reason is the human behavior that resists any change, in this case, it the digital payment process. Although the number of cashless transactions is on a huge upsurge in the recent years, still for many small businesses it is not an enthralling proposition because of the processing fee associated with it.
One of the biggest benefits of the card based transaction is that your customer can make payments far more easily without worrying about tendering exact change. Card payments offer added advantage of better documentation of each sale. If yours is a subscription based business, you can encourage your customers to set up a recurring payment from their bank account and you would uninterruptedly enjoy business from them.
Small businesses with websites can enhance the user experience by allowing their customers to make online payments for goods or services you offer. Choose from a plethora of options like Take-a-Payment from web.com, PayStand, Flint, Merchant Warehouse and much more to integrate payment and make your contribution in building a cashless ecosystem. Check out this gifographic from Total Processing to learn more about the benefits of cashless transactions. Also, take note of the challenges and obstacles that you might face in embracing the cashless ecosystem before you jump on the bandwagon