Money has dramatically evolved from barter trade to coins, to paper, to plastic and now, smartphones. This transformation has pushed retailers to keep up with customer demands—and these days you’re likely to find a range of payment methods anytime you have to pay for something.
While most buyers prefer paying through the multiple modern systems like debit & credit cards, or even mobile apps, some consumers still like it the old way; either through cash or a written check.
Such businesses are happy to take payments in cash or check but not via plastic cards. This way, they evade merchant fees charged by Card brands like MasterCard and Visa which manage 70% of all credit card processes in the United States.
Again, there’s been a significant change in the way customers interact with money, and many micro-business owners have added alternative payment methods in an effort to cover every buyer’s … Read more