For many many years a retail business that I work for has been cash only. The people who own the business are elderly, and they have been very resistant to upgrading their POS to take credit and debit cards. Their reasoning is that they can’t afford the fees. Every day they lose multiple sales because people don’t always carry cash. I need some hard statistical facts to bring to them to convince them that they will make more money taking carts, even if they have to forfeit a small percentage for fees. Anyone know where I can get these sorts of numbers? For example the average percentage that sales increase when people decide to upgrade their payment system to take cards.
Realistically speaking you’re not likely to find any real concrete numbers to use.
Research like that would have been bought and paid for by a company that intends to use it. You won’t find it for free.
Anecdotally, I can tell you that a business that refuses to take card in 2023 is not long for this world.
Especially not in retail or small ticket service.
If they insist they don’t want to pay fees, they could set up with a company that offers surcharge processing and offer it to clients without cash.