Dual-purpose cash and check scanners remain necessary as paper money and checks live on
Dual-purpose cash and check scanners can be considered a business's best friend. For one, they accept the most widely available and secure form of income out there: Cash. For another, these clever machines accept checks and scan them for fast balancing and easy deposit. Although the electronic age of digital payments and alternative payment options looms above, checks and cash are still exceedingly popular with baby boomers, Generation X individuals and older Americans. Businesses and marketers today must remember that older Americans and Generation X individuals still have buying power. IT is not just up to millennials and Generation Z teens to direct entire market trends. Rather, all generations should agree on a singular form of payment that works: Cash and checks. If a business wants to stay ahead, it needs to use dual-purpose cash and check scanners to maintain efficiency when operating with all forms of payment
Businesses today need dual-purpose cash and check scanners
Why are dual-purpose cash and check scanners important to retail? It may be the fact that a large portion of transactions are still done through cash. For example, a consumer often finds it useless to charge less than five dollars to a credit or debit card. As such, this individual will carry cash to make the purchase. Consumers like these hold onto dollar bills because they view it as safer and more efficient than credit or debit cards. According to a survey by financial blog Main Street and research firm Walker Sands, nearly 56 percent of consumers agreed that paying with cash at checkout was the safest form of payment. Of these individuals surveyed, 59 percent carried $20 or less. This means that while consumers are carrying less cash, they are more likely to withdraw at an ATM for smaller amounts frequently.
Other forms of transactions like Bitcoin, Paypal and cryptocurrencies are largely considered less trustworthy. Of those surveyed, only 38 percent said that credit or debit cards were the safest payment options. Unfortunately, major data breaches at companies such as Ashley Madison, Target, eBay and JP Morgan Chase have created massive dips in consumer confidence, according to Bankrate. While mobile currency options such as Apple Wallet and Samsung Pay are predicted to take the world by storm, it is only dual-purpose cash and check scanners that can help consumers feel secure.