Why your business should go cashless accept more digital payments - Business Insider

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1 in 5 businesses are refusing cash during the pandemic. Here are the upsides to going digital, aside from not having to touch strangers' hands.

The coronavirus is accelerating the trend of customers preferring cashless payments.

As it has with many other aspects of modern life, the coronavirus is accelerating a longer term trend: cashless payments. Cash certainly won't disappear fully anytime soon, but there are several key advantages for small businesses to embrace a more digital future.Analysis from the Bank of International SettlementsStill, search data for phrases like "cash corona" showed that people are worried about using coins and bills, so offering a touch-free solution is a clear way for businesses to show they take those concerns seriously.

 

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And these are the downsides: - complete monitoring of your purchases and habits - possible blockage or freeze if you do something companies don't like - exposed to identity theft and hacking What do you pick, convenience or freedom?

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