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The Big Apple?
If your small business is in the computer industry, and more specifically, if you sell the Apple iPad, it’s likely you’re not selling them for cash. Apple, Inc. has told its resellers that cash payments were not an option for customers wishing to own the fast moving iPad. Many are suggesting it’s because the computer giant is wishing to collect information on its customers, but others say it has more to do with the overseas mass sales some people are attempting in the U.S. It is illegal to resale merchandise in this context.
While this is good for your merchant credit card processing efforts, some retailers are reporting customers who are more 
than a little upset when their cold hard cash is being declined. And…much to the surprise of many, there’s no law that says a business must accept cash when it’s presented for payment. This is another sign of the shift in the American financial sector and how cash is no longer king. In fact, one federal attorney was quick to point out that this is in line with the “rise of electronic payments and the slow death of cash”.
This latest event is indicative of how the U.S. is re-evaluating those historical, and some say antiquated, methods of trade for payment. Of course, for those who make online purchases, none of this comes as a surprise. Online purchases have always required internet credit card processing, but frankly, this new Apple rule has many concerned.
Regardless of what ultimately becomes of Apple’s “no cash” rule, you can be sure your small business credit card processing needs are easily met when you partner with FDIS. We have several packages that will make your online credit card processing and your face to face transactions that require a credit card processing terminal easy for both you and your customers. Visit our site or give us a call today!
