A drop in transactions in both small and mid-size businesses saw a spike throughout March due to consumers’ reaction to shelter-at-home and social-distancing orders, this is in accordance with research done by point-of-sale technology provider CardFlight Inc. However, Signifyd, a vendor of e-commerce fraud solutions, found data showing that their spending moved towards e-commerce in several merchant categories.
In March, New York City-based CardFlight said in its Small Business Impact Report released on Wednesday that small business sales dropped for the third week in a row. The sales were based on data found from 60,000 small businesses, the research used CardFlight’s Swipe Simple software in all 50 states and showed that sales for the week of March 23-29 had gone down 12.6% week after week. They went down a further 26.9% from March 2-8, before the shelter-in-place restrictions had been … Read the rest