Small businesses could find it much more difficult to collect payments quickly following the U.S. Postal Service’s decision to stop its next-day delivery.
Forced to downsize considerably, the U.S. Postal Service announced last month that it would shut down half of its 500 processing centers, fire 28,000 employees and eliminate its service of delivering mail the next day. According to the USPS, about 40 percent of all first-class mail is delivered the next day.
New research from REL Consulting indicates that the change could cost up to $100 million per year for businesses that collect payments by mail.