Strategy

• Cash and checks are declining but not disappearing.
• Debit, credit, and prepaid cards will compete for growing digital spending.
• FedNow's launch could increase the prominence of bank-based payments and intensify competition.

Although debit still reigns supreme, with consumer preferences moving toward digital, cash and checks will continue to be displaced in the US. 

Small-business owners have a tall mountain to climb. Not only are they pouring a colossal amount of energy into running a business and weathering market changes, but they also need to know where and how to reach new audiences. In this frenzied digital age, business owners are inundated with choices about platforms, engagement metrics, ad spend, conversion rates, and more. This series breaks down some of the most effective marketing techniques for small businesses and shares standout examples of how companies can use them to strengthen their brand and build community.