Even though issuers have been providing significant incentives for consumers to use theircredit cards over the past year, consumers are once again turning to cash to pay for small purchases.
According to a new Javelin study released on Tuesday, 79% of consumers used cash to make a purchase over the past seven days compared to 65% who used a debit or credit card.
The increased use of cash may be a side effect of the interchange fee regulations that capped these swipe fees for debit card purchases. While a smaller fee was good news for most retailers, it provided a cruel twist for the smaller merchants. Business owners specializing in lower-priced items like coffee, candy and ice cream now have to pay a higher fee when…
Read more at forbes.com .
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