Unformatted text preview: uses PIN debit, it works as if they were using an ATM to withdraw cash. Using signature debit is almost like using a credit card, the transaction looks the same but there is a hold put on the funds in the consumer’s bank account and withdrawn the next business day after processing. The last choice for payments will be for in store only. This choice is using cash, which is a universal form of payment. Cash is secure for the merchant because it is able to be instantly used by the store for other business. Cash is also still one of the largest methods of payment for consumer goods to date. All other forms of payment that are developed still have to compete with the ease of use of cash. References DANIEL HOUGH, MARK RIDDLE, CHRIS ALLEN AND MELISSA FOX. (February 2009). World of Choice: Consumer Payment Preferences. Retrieved March 6, 2009, from http://www.bai.org/bankingstrategies/2009-JAN-FEB/cover/....
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This note was uploaded on 05/04/2011 for the course BUS 105 taught by Professor Unk during the Winter '10 term at AIU Online.
- Winter '10