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Small businesses that don’t accept credit cards losing 11.8 million customers

Businesses could be turning away thousands of dollars by not offering a card terminal.

Cutting a credit card with a scissors

When you live in a bigger city, it’s easy to take accessibility for granted: public transportation, 24/7 laundry, corner convenience stores — and paying for nearly everything with a credit card.

It can be unnerving to be at the register of a business that doesn’t offer the ability to pay by plastic. Without cash, you may even walk away from the sale.

Big potential revenue losses

reportOur research team put these words to the test by commissioning a survey of 6,838 American adults. The survey was conducted by global research provider Pureprofile.

Our findings showed that businesses choosing not to invest in a card transaction facility are losing an estimated 11.8 million customers.

This means that a retailer with an annual turnover of $2 million could lose $73,000 in potential annual revenue.

With consumers less likely to carry loose cash, businesses that do not provide card paying facilities are at a growing disadvantage. A 2015 ATM Marketplace report discovered that 5% of Americans don’t carry cash on them.

Our research team found that some three-quarters of people (73%) would leave a store without making a purchase if it didn’t offer a card terminal and they didn’t have cash on hand. Of that 73% — comprising 11.8 million Americans — 36% said they wouldn’t buy anything from that store, and the remaining 37% indicated they would try to shop elsewhere.

The remaining 27% would find an ATM and come back to the store.

Small businesses likely to suffer

Small businesses are especially susceptible to revenue loss if they don’t have a card terminal in their stores.

Fred Schebesta,’s CEO, isn’t surprised that small businesses could lose customers by not having credit or debit facilities. “Small businesses rely so heavily on their customer base that if a customer has a negative experience, they are likely tell their friends and family about it,” he says.

Millennials are most likely to shop elsewhere if a merchant doesn’t provide the flexibility to pay by credit or debit card.

Demographics across the board

Generational. Our studies looked at three major demographic groups to learn how cash only can affect the way they shop:

  • Millennials — ages 18 to 34
  • Generation X — ages 35 to 54
  • Baby boomers — ages 55 to 74
If a merchant does not have card facilities, I will shop somewhere else:
  • Millennials — 45%
  • Generation X — 37%
  • Baby boomers — 33%

If a merchant does not have card facilities, I will leave the store without buying anything:

  • Millennials — 43%
  • Generation X — 35%
  • Baby boomers — 22%


When it comes to men and women, 63% of women would not return to a merchant that doesn’t offer a card terminal, compared with 37% of men. The remaining percentage would make an effort to find an ATM and come back to the store with cash.


How much a person earns plays an important part in a buyer’s mindset. Shoppers with higher income levels are more likely to leave a store that doesn’t have a card terminal without buying anything. Of those earning high incomes of $175,000 to $199,999, 77% would leave the store empty-handed. The remaining percentage would find an ATM and return to the store with cash.

For lower-income earners making up to $9,999 a year, 70% would forgo the purchase, and 30% would withdraw cash from an ATM and return.


By conducting a state-by-state analysis, we found that Oregon had the lowest percentage of people (21%) who indicated they would find an ATM if the merchant did not offer a card terminal. Oklahoma clocked in as having the highest percentage of people (30%) who would withdraw cash and return to the store.

As far as people who would leave the store and not buy anything at all, Kansas and Kentucky both had the highest percentage of people at 47%. Nebraska indicted the lowest percentage of people at 25%.

The world is moving ever further in a digital direction. To remain relevant and prevent future revenue loss, businesses must consider adapting to accept debit and credit cards at the point of sale.

Eleven states were excluded from our state-by-state analysis due to sample sizes of under 40 people.

Compare business credit cards

Small businesses can benefit not only from accepting credit cards, but also using them for expenses. While researching how to begin offering customers the option to pay by card, think about how a credit card could help your business. Consider getting a card that offers rewards in the areas that your business spends the most.

Data indicated here is updated regularly
Name Product Rewards Purchase APR Annual fee
Ink Business Preferred® Credit Card
3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases
15.99% to 20.99% variable
100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening. That's $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards®
Ink Business Cash℠ Credit Card
5% at office supply stores, on Internet, cable and phone up to $25,000 combined annually (then 1%), 2% on gas and dining up to $25,000 combined annually then 1% after that and on all other purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$500 bonus cash back after you spend $3,000 in the first 3 months.
Ink Business Unlimited℠ Credit Card
1.5% cash back on all purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.
United℠ Business Card
2x miles on United, transit and rideshares, and at gas stations, office supply stores and restaurants, and 1x miles on all other purchases
16.49% to 23.49% variable
$0 intro annual fee for the first year ($99 thereafter)
Earn 60,000 miles once after spending $3,000 in your first 3 months.
Universal Premium Mastercard®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
27.24% variable
Up to $120
Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.

Compare up to 4 providers

For media inquiries:

Allan Givens headshot

Allan Givens
Public Relations Manager

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Nicole Gallina
Communications Coordinator

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