Good points, but there’s a lot of varied sentiment on this subject.
Some retail businesses feel as if they are being ripped off by the credit card companies charging 3-4 percent processing fees. The smaller the business, the more, it seems, that most people can sympathize. So these businesses encourage payment in cash. Some go so far as to ban digital payment. Young people especially think the people who run these businesses may as well be from Mars.
Other retail businesses consider cash transactions more trouble than they’re worth in terms of avoiding the credit card processing fee. They don’t like the bother of handling actual cash and would just as soon ban the use of cash at their retail locations, choosing to allow only digital transactions. Some actually do ban the use of cash, choosing to forego the business of people who prefer to use cash, or who refuse to pay digitally.
It’s kind of getting to be a culture clash.
Technology will win the day. Cards are much more than 3.5% efficient when you calculate in processing, theft, mistakes, bank deposits, accounting for cash, deterring and losing business from the majority of people who aren't carrying a bunch of Benjamin's in their wallet.
It’s kind of getting to be a culture clash.
It is literally putting real Small Business out of business.
I’ve run into several fast food workers who have no idea how to make change for cash transactions.