I've seen small towns adopt cash only payments to curtail this. Why should the tax pay effectively a 2%+ tax on the economic activity of the town. Imagine a bunch of people living there, transacting with each other, 2% tax for every movement?
On some levels yes, if getting and keeping cash is your aim, it can work.
But there are costs associated with cash too. It has to be stored safely, counted and reconciled, banked (not always free) etc etc.
I’m not saying credit card fees are ‘cheap’, especially not in the US where they seem to be quite high to support the cashback economy, but cash isn’t free for a business either.
Nursie|2 years ago
But there are costs associated with cash too. It has to be stored safely, counted and reconciled, banked (not always free) etc etc.
I’m not saying credit card fees are ‘cheap’, especially not in the US where they seem to be quite high to support the cashback economy, but cash isn’t free for a business either.