Cash Soon No Longer King
Bloomberg reported that credit and debit card transactions will rise from 40 percent in 2005 to 55 percent of all US transactions in 2011.
It will be interesting to see whether this prediction proves accurate. Now more than ever, credit cards and the associated fees are under the microscope. Given that retailers are lobbying Congress for lower interchange fees, and some gas stations offering different prices for cash and credit, it wouldn’t surprise me if even more businesses adopt policies to provide cash incentives. Even Ikea offers a 3% discount if you aren’t using a credit card.
There are even a few holdouts to the nation’s credit obsession. The New York Times went in search of businesses that that still decline credit cards - and found some that would surprise you.
