With the Durbin Amendment taking effect in October cutting interchange charges in half, the folks at CreditDonkey published a new infographic illustrating how accepting small transactions can pay off for small business owners, particularly with newer, high tech methods of using credit cards via smartphone apps and webcam card scanners.
“Much of the older generations are used to paying for their cups of coffee, packs of gum and other small purchases with cash,” said Charles Tran, founder of CreditDonkey. “But today’s young adults pull out their credit cards for everything – from 99 cent iTunes purchases to soda or lattes from the neighborhood coffee shop. Credit cards are quickly replacing cash and many young adults choose where they shop based on whether or not credit is accepted.”
Here’s the Infographic the company created to highlight this: