It’s 2016. It’s not uncommon for people to spend more time on the internet than in front of their televisions. It’s also commonplace for people to Google information rather than head to the library to locate a book on a topic of interest. We’re living in a fast-paced, digital world and the most popular trends – such as using social media as a primary form of communication – are proving that.
So why is your business still accepting cash as its only method of payment? In case you haven’t noticed, cash is going out of style. Very few Canadians have a lot of cash on them as they make their ways through each and every day. The popularity of credit cards and debit cards has skyrocketed in recent years, especially since online shopping has become such a widespread phenomenon.
“I hate paper bills in my pockets (even though new Canadian bills are now actually plastic),” vents the blogger on MoneyRamblings.com, “The sound of my pockets jingling doesn’t make my jolly. Any time I get stuck with $20 or more bucks in cash I feel the urge to run down to an ATM and deposit it into our account. Plastic money for me is a much better alternative to paper money…Cash is nothing but annoyance.”
These days, you don’t even need change to pay for parking. Parking metres all over Toronto – where Canadian POS Corporation is headquartered – accept credit cards. Drivers simply insert their cards into the machines, select the amount of time they need and have their tickets printed. Sure, these machines still accept coins. But, worrying about having exact change has become a thing of the past.
Not only has plastic become known as the most convenient form of making payments, but cash is now actually being regarded as an inconvenience. “Inconvenient, unsanitary, and never in your wallet when you need it, cash money is quickly going the way of eight-track tapes, flip phones and, well, Myspace – artifacts of a more primitive age that didn’t make it much past the decades in which they were born,” writes Jaimee on Slice.com.
One of the reasons Canadians are beginning to hate cash is because it doesn\’t allow you to track your spending. When shoppers use their credit cards and debit cards, there are always records kept of the transactions. They have the convenience of going online to their banking institutions’ websites to locate records of the charges. If they choose, they also can receive paper statements that document the dates and amounts of each transaction. If you’re into good record-keeping, paying with plastic is for you.
“Try tracking your spending with cash,” challenges MoneyRamblings.com, “It’s impossible and that’s why I hate cash. As soon as I get stuck with cash for whatever reason, I can never figure out where it went. You pay for your lunch with a crisp $20 bill, and get a handful of change in return – you don’t expect me to track my change, do you? What am I supposed to do, count the pennies?”
At Canadian POS Corporation, we ensure that our customers will never have to feel the wrath of Canadians’ growing hatred of cash. For more information about our Countertop and Wireless POS terminals that allow you to accept all credit cards and debit cards, give us a call at 1-877-748-2884 or email us at info@localhost.