Are cashless payments good for business?

Learn more about the benefits of going cashless.
The benefits of going cashless. See image description below.
  • Fast: It takes an average of one to two seconds to process a contactless transaction, compared to six or seven seconds for cash.¹
  • Safe: Merchants who are cashless can protect their working capital by eliminating the risk that cash may be lost or stolen.
  • Convenient: For the customer, it means not having to find an ATM, wait in line at a bank, break big bills, or carry exact amounts of cash.
  • Incremental: For dining or take out, a U.S. consumer typically spends 25% more on a card at a pizza shop, 33% more at a deli or diner, and 40% more at a family restaurant.²

Visa wants to empower merchants worldwide by creating more convenient, safe, and faster ways to pay.  Cashless payments can provide a variety of benefits for businesses and consumers such as incremental revenue, more productive workplaces, and even long-lasting, rewarding relationships.  

  • ¹Insight Report: The Future of Consumer Payments– Contactless Cards of NFC Mobile? Timetric, October 2016.
  • ²Visa U.S. Consumer Payment Panel Study, 19,482 U.S. Adults (18+ years old), 2Q16-1Q17 data. Own Plastic Payment Card, Visa Commissioned Study.