No, it really doesn't, besides the fixed investment of buying a cash register. The idea of being forced to hand over a percentage of all my earnings to private company is abominable. I pay taxes to the elected government, not to some bank. It's why I only accept checks, ACH transfers or cash as payment, and it saves me 3% of my income a year over taking credit cards.
In the EU fees are capped at around 0.3 % I believe.
And you're mistaken if you think cash is cheaper for most stores. You risk theft (so need to pay for measures against that), you have straight losses from mistakes, have to spend time handling and counting cash, spend time depositing, spend time buying change, etc etc
I’m pretty sure there are fees involved with running a cash register, aren’t there? At least in Sweden, the machine has to be certified, registers with the tax authority and then inspected for re-certification regularly.
Regarding cash, does your bank not charge a fee for depositing cash?
What do you think happens to the cash at the end of the day?
Managing cash has costs too, they're just harder to quantify: you have to ferry it to a bank, you have increased risk of theft, fraud, and robberies, you need extra time to actually check the register etc.
And then you risk losing business if you don't offer card payments because it's just more convenient for most customers (you may like wise lose some if you don't take cash, but that's a vanishing market).
noduerme|4 months ago
matsemann|4 months ago
And you're mistaken if you think cash is cheaper for most stores. You risk theft (so need to pay for measures against that), you have straight losses from mistakes, have to spend time handling and counting cash, spend time depositing, spend time buying change, etc etc
Jolter|4 months ago
Regarding cash, does your bank not charge a fee for depositing cash?
what|4 months ago
And you didn’t answer why you shouldn’t pay that fee.
riffraff|4 months ago
Managing cash has costs too, they're just harder to quantify: you have to ferry it to a bank, you have increased risk of theft, fraud, and robberies, you need extra time to actually check the register etc.
And then you risk losing business if you don't offer card payments because it's just more convenient for most customers (you may like wise lose some if you don't take cash, but that's a vanishing market).