• About
  • Solutions
    Financial Toggle dropright
    BranchWare WebUCM Universal Cash Manager (UCM) CashView Web
    Retail Toggle dropright
    Cash Core CashView Web
    Gaming Toggle dropright
    BranchWare
  • Support
  • News
  • Contact
  • Blog

Back

April 22, 2022

Cash Back on the Rise

People tend to favor alternative payment methods, and it takes a powerful influence to change their preferences. Just ask someone that is behind a person paying with a check in the supermarket. COVID accelerated online credit card purchases have caused cash payments to drop to a historic low of about 16%. Now inflation is causing people to move away from credit cards and back to cash, stuffing envelopes as a way to budget as cash payments increase to 20% on average - and higher.
Credit card companies send account snapshots, but that just makes you aware of how bad things are. Added to that is the looming cash crunch when the bill ultimately arrives. Realizing you cannot pay off your monthly card balance results in hefty interest charges. And if you carry a monthly balance into a rising inflationary period, paying down card balances is increasingly difficult.

Cash stuffing sets aside cash for important bills you know need to be paid and allows you to manage available cash day to day - keeping costly card balances down. During inflationary periods, cash management is more difficult as everything costs more by the day - reducing available cash to pay off monthly card balances. For the unbanked, cash stuffing is a normal way of life. And as inflation takes its toll, more and more people will take notice and move to cash to keep control of available funds. For retailers, now is the time to prepare to handle an uptick in cash payments as consumers move to cash. Now is the time to adjust to inflationary pressures that will drive up cash payments, and the cost to handle them.

Article Referenced:https://www.cnbc.com/2022/04/20/how-cash-stuffing-is-helping-tiktok-creators-beat-inflation-pay-debt.html


Tags: retail financial cash coin

Sign in to comment

Sign in with LinkedIn

By clicking Sign in with LinkedIn, you agree to let Compuflex Corporation store your LinkedIn profile.


There are no comments for this post. Sign in with LinkedIn to leave us a comment!

Related Articles


The Retail World has a Problem… COMPUFLEX Has the Solution

THE RETAIL WORLD HAS A PROBLEM… COMPUFLEX HAS THE SOLUTION

December 28, 2018


Retailers are faced with major challenges regardin... read more
Tags: compuflex retail
Interfacing Cash Automation Equipment to POS

INTERFACING CASH AUTOMATION EQUIPMENT TO POS

December 28, 2018

Retail Industry
The Compuflex Lab in New Jersey is a first stop fo... read more
Tags: compuflex retail
“What's Holding Up Smart Safe Installs?”

“WHAT'S HOLDING UP SMART SAFE INSTALLS?”

March 20, 2019

Retail Industry
This question is often asked at cash automation me... read more
Tags: compuflex news cash
Reducing the Cost of Counting Coins

REDUCING THE COST OF COUNTING COINS

September 16, 2019

Financial Industry Retail Industry
Handling cash to open and close tills comes at a c... read more
Tags: retail financial coin automation
The Retail Mainstreaming of Cannabis

THE RETAIL MAINSTREAMING OF CANNABIS

October 15, 2019

Retail Industry
Retail sales of medical and recreational cannabis ... read more
Tags: Retail Cannabis
Retail Mainstreaming of Cannabis Part 2 – The Solution

RETAIL MAINSTREAMING OF CANNABIS PART 2 – THE SOLUTION

November 14, 2019

Retail Industry
As the number of dispensaries increase the lack of... read more
Tags: compuflex retail cash
6 Simple Rules...

6 SIMPLE RULES...

December 16, 2019

Retail Industry
The right cash automation for your locations depen... read more
Tags: retail cash getting/cash/right GettingCashRight
Things You May Already Know...

THINGS YOU MAY ALREADY KNOW...

December 27, 2019

Retail Industry
...because we already told you According to the B... read more
Tags: compuflex retail cash GettingCashRight
Driving Sales Up and Costs Down - Cash Kiosk & POS

DRIVING SALES UP AND COSTS DOWN - CASH KIOSK & POS

January 23, 2020

Product Updates Retail Industry
The NRF Retail Big Show kicked off 2020 with excit... read more
Tags: compuflex products retail cash GettingCashRight
Cash: Post Covid-19

CASH: POST COVID-19

April 23, 2020

Financial Industry Retail Industry
Relationships and Trust are at the core of human i... read more
Tags: compuflex news retail financial cash automation
  • 1
  • 2
  • 3
  • Next →

Receive information for:

© 2025 The Compuflex Inc. (Compuflex Corporation)  All rights reserved.

Privacy Policy