Cash is the most popular form of payment in the United States, and businesses can track incoming bills with cash counters. According to Forbes, 75 percent of respondents agreed cash was the easiest and most convenient form of payment today. In that study, fewer Americans said they preferred credit and debit purchases. A similarly low level of enthusiasm was expressed for using mobile payments. Only 14 percent of people surveyed viewed mobile options as their primary method of making payments. Money counters are a solid investment since consumers mostly use cash. They can help businesses keep accurate records of non-digital revenue.
American consumers today have different preferences for payments. According to Apple World, 39 percent of Americans use cash as their primary payment method today. Debit card use followed closely with 31 percent and credit card use at 22 percent. Only 3 percent of survey respondents said they used primarily mobile payment plans such as Google Wallet or Apple Pay. Although predictions were positive for mobile payments, cash is still the most trusted payment method.
With so many payment options, Americans can pick and choose which feel most secure to them. Shoppers feel anxiety with credit and debit card purchases due to increasing data breaches at national retailers. These breaches make consumers reach for physical options such as cash because they can be carried on one's person and can. Cash serves as a safe alternative that provides a sense of security for quick and efficient purchases.
All businesses can benefit from a cash counter for multiple reasons. The machines can handle up to 1,600 bills per minute. This saves store clerks and managers valuable time that can be spent on more important tasks, such as counting inventory and compiling reports. These money counters also have counterfeit detection, serial number capture and four layers of memory for easy access should a customer use counterfeit cash. This helps businesses stay safe in the midst of technological problems. Additionally, money counters can be easily upgraded to grow as a business does.
As cash continues to rule the shopping world, investing in a money counter can help your business stay relevant.
May 19, 2016