- 138% of small businesses accept Zelle, 29.2% Venmo and 28.6% PayPal.
- 240.1% accept no alternative payment methods.
- 331.6% pass credit card processing fees on to customers.
Zelle is now the most widely accepted alternative payment method among small businesses, according to the latest Small Business Cash Flow Trend Report from OnDeck and Ocrolus.
What businesses accept
- Zelle: 38%
- Venmo: 29.2%
- PayPal: 28.6%
- Apple Pay / Google Pay: 22.6%
- Cash App: 16.4%
- No alternative methods at all: 40.1%
The numbers show how much Main Street payments have diversified. Not long ago the choice was simply cash or card.
Crypto and fees
The survey did not ask about bitcoin or crypto acceptance, though it could in the future. Block, which owns Cash App, recently began rolling out bitcoin acceptance technology to all of its Square merchants.
Small businesses have historically been cost-conscious about which payment methods they take. Even so, 31.6% of respondents said they passed credit card processing fees on to customers.
Source reporting: deBanked.
