According to recent data from Xero, nearly 90% of U.S. consumers prefer to pay by credit card, yet 30% of small businesses still do not accept card payments.
Adapting to consumer preferences not only fosters loyalty but also drives future growth. Small businesses must embrace the shift towards modern payment solutions to meet consumer expectations.
When consumers encounter barriers when shopping, such as the unavailability of their preferred payment methods, they become frustrated and consider switching to a competitor.
Mobile payments have surged in popularity, particularly with younger generations: approximately 43% of Gen Z customers and 42% of Millennials regularly use digital wallets.
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