Headlines

Are You Still Using Paper Checks in Your Business?

Check out this surprising new finding.

Published

8 years ago

November 8, 2016

INSTORE Staff

If your small business is still using traditional paper checks to make and receive payments, you’re not alone.

About 97 percent of small and medium-sized businesses in a recent survey said they rely on checks for business-to-business payments, consultant Gene Marks writes in an article for the Washington Post. Marks cites data from the latest PYMNTS.com SMB Technology Adoption Index, conducted with software firm Sage.

And have you been hearing a lot about digital wallets such as Apple Pay, Android Pay and Samsung Pay? Well, 80 percent of small smaller merchants said they still can’t accept them.

To figure out why so many businesses still use checks, Marks looked at another survey, this one from Viewpost, an online invoicing and payment company.

Marks writes: “The main excuse? Forty-one percent said their own suppliers don’t accept electronic payment! Lack of hidden fees, familiarity and a paper trail were also reasons given.”

Meanwhile, acceptance of credit and debit cards with EMV chips is on the rise.

According to PYMNTS.com: “Roughly 53 percent of SMBs do not accept EMV-enabled credit and debit cards, down from 61 percent last quarter.”

Read more at the Washington Post |

PYMNTS.com

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”