- Over 90% of U.S. small businesses still use paper receipts, handling around $6 trillion annually
- Main reasons for persistence include cash flow needs, system complexity, and reluctance to change
- Digital payments cover less than 1% of the market
- Software fragmentation and banking infrastructure issues slow digital adoption
- Government efforts to digitize payments may gradually push change
- Paper receipts expected to remain for at least 20 more years
- Challenges include speeding up digital adoption, addressing fraud, and improving system integration
- Deep-rooted habits and trust in card networks maintain the use of paper receipts
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United States"
- US Announces Immediate 25% Tariff on Countries Doing Business with Iran
- Michigan Appeals Court Questions Tax Exemption for Medical Device Seller Amid Statutory Ambiguity
- Nonprofit Not Liable for Sales Tax on Property Transfers to Tax-Exempt Organizations in Michigan
- State Guidance on Sales Tax Rounding After Federal Penny Phase-Out: Updates and Resources
- Wisconsin Rules Fleet Management Services Are Taxable Inspection and Communication Services
