When times get tough, customers rely on credit.
Each month, TimePayment accesses POS industry research to help guide you on making the most of today’s opportunities. Today we explore increasing credit card usage in the face of economic turbulence.
By the numbers: We surveyed more than 2,300 retailers and found:
- 29% reported increased credit card purchases in the previous 60 days.
- 35% reported increased applications for store credit cards.
- Purchases over $400 were funded by credit card 61% more frequently than the same time last year.
- Restaurants reported a credit card usage increase of 19% in the previous 60 days.
- The fastest-growing merchant sector for credit card usage in the previous 60 days was medical.
More challenging economic times demand more credit usage. Those times are here—and you can be a powerful advocate and solution provider for merchants of all kinds.
We can help. TimePayment has been a leader in supporting the POS sector – offering best-in-class equipment lease financing, industry-leading technology, access to API, and superior account service, training, and back-office support.
- It’s fast, easy, and free to sign up.
- Maximize your revenue with funding for many types of POS and terminal equipment. Attract new business with options from 12-to-60-month terms.
- Sell more often to existing customers with programmatic solutions like Lease-to-Own, Fair Market Value, and Rental.
Visit our POS and terminal page to learn more or reach out and contact us
