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Tuesday February 08, 05:13
Cash to Give Way To Card
(by Peter Van Bruggen)
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e-realtor.org
FashionGates.com
According to Ipsos-Reid, in 2004 between the two ways of payment, in
cash or by credit card, almost 38 million Americans chose to use credit
or debit card for purchases below USD 5 as compared to 354 billion cases
of cash payment.
The statistics show that cash transactions at the POS gave a total of
USD 1.32 trillion of which the vending market share is USD 18 million,
parking USD 10 million, quick-serve restaurants USD 110 million and
coin-operated machines USD 6 million.
An example of Regal Cinema in Philadelphia shows the advantage of the
usage of card payment method. They made it possible for the customers to
use cards to pay for the purchases and removed the problem with
machines running out of change. After former cash-only machines were equipped
with card payment, moviegoers bought on average two to three goods at a
time which increased the vending sales by one third.
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