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More businesses are not accepting cash

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Re: More businesses are not accepting cash

#81

Earlier quoted context omitted.

Stripe and Square are the not terribly expensive, we use both, and they're the cost of doing business past 1992.

2.9% plus 30 cents (in the case of Stripe) is pretty darn expensive, your effectively paying 9% in fees on a $5 transaction. Better processors have slightly lower percentages (~2% & $0.05 to $0.10) but they're often a pain to work with and have a variety of hidden booyah fees that drive up the cost (PCI compliance fees, statement fee, requiring a wired internet connection for a credit/debit terminal). Large chunks of…

[deleted]

Re: More businesses are not accepting cash

#82
post #10

Earlier quoted context omitted.

I'm curious why you don't carry cash?

It's a fair question. I'm not the person to whom you replied but thought I'd contribute my view point. I don't carry cash because it feels more cumbersome and less speedy than paying with card. With cash, I either have to work out close to exact change or--when I'm out for a leisure day and going to several places--have a mass of coins jangling around at the end. I've noticed that I'm now irrationally irritated watch…

No comment on the rest of it, but on this:

> I don't carry cash because it feels more cumbersome and less speedy than paying with card. With cash, I either have to work out close to exact change or--when I'm out for a leisure day and going to several places--have a mass of coins jangling around at the end. I've noticed that I'm now irrationally irritated watching someone painstakingly count out $12.83 in exact change ahead of me at the till.

I've actually timed the people in front of me, and the vast majority of the time, cards take nearly twice as long as cash. No idea why, as I would also expect counting out the change to more than make up for that.

(I'm in the US, maybe the systems are different enough to account for this?)

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