Cash use is declining. The Federal Reserve’s 2023 Diary of Consumer Payment Choice found that cash use continues to decrease, with consumers using cash in only 18% of all transactions in 2021. As a result, most consumer-facing businesses need to accept digital payments to offer the experiences customers want.
Contactless payments are a trend quickly transforming the way we do business. While the exchange of paper money used to be the hallmark of the shopping experience, payment has been taking on new and exciting forms, from simple text to near-field communication (NFC). Read on for more details about the benefits of contactless payments.
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