Posted on 07/19/2017 9:48:33 AM PDT by Roman_War_Criminal
The push toward a cashless society is becoming more of a shove. Before today I had never heard of “The Visa Cashless Challenge”, but after reading about it I have to say that I am quite alarmed. Visa is trying to “encourage” businesses to go cashless, and one of the ways that they will be doing this is by “awarding up to $500,000 to 50 eligible US-based small business food service owners who commit to joining the 100% cashless quest”. The food industry is still one of the last bastions where cash is used very heavily, and so it makes sense that Visa would want to target that segment. Of course the more people that use cards to pay for meals, the more money that Visa will make.
When I go to restaurants, I almost always use cash, and I know a lot of other people that very much prefer to use cash in those situations as well. But if Visa has their way, soon all of us will be forced to use some form of digital payment instead. The following is an excerpt from the press release that Visa issued about this new “challenge”…
(Excerpt) Read more at theeconomiccollapseblog.com ...
What a coincidence! I’ve been considering going completely cardless!
Eat your meal, offer cash, if they won’t take it oh well...
I often pay by credit card but tip the waitress/bartender in cash. They seem to appreciate that. ;)
I don’t know why anyone would think this is so alarming. Credit card issuers and brands like Visa and MasterCard get a processing fee (for the card issuer) and an interchange assessment (for the brand) from every credit card transaction, so they have a big financial stake in getting as many people as possible to stop using cash.
Yep. In fact, if a place said they don’t accept cash, it is highly likely that I would fund another restaurant.
With cash tips, they don’t have to claim it on their income tax. Those of us who work “on the books” have to make up for the loss.
If our NWO masters have their way, your financial balance will be embeded on a computer chip in your forehead so that debts and credits will be done by thermal-swiping your head. The little chip will include a symbol that looks like “666” and you won’t be allowed to buy or sell without it.
It’s for your own good, really. It’ll be so convenient...
If you pay cash, the restaurant doesn’t have to pay that processing fee. I’d rather they keep the money than have to pay the bank to get it.
Says right on it “This note is legal tender for all debts, public and private”, so I’m inclined to agree with your method. If the law says it’s legal tender they don’t really have the right to refuse to accept it. We have to put up with public accommodation laws, then the tyrants have to put up with us using cash, period.
The stories I just looked at said Visa was offering 10 grand to 50 eateries, a combination of restaurants, truck stops, and food carts to go cashless. Interesting that Visa went with the small fish. I’ve had 3 credit cards hacked. I’ll stick with cash for restaurants. If the eatery won’t take cash, it won’t get my business.
And, FWIW, I do find the war on cash scary. Very.
It’s like that on a cruise ship. Not a chip, but a card which is also your room key and ID to go ashore in ports. The cruise ship is cashless and that card records every transaction. It doesn’t bother most people. Me...I’m a conspiracy theory kind of gal. I wonder if that card also has GPS tracking.
Right. Restaurants accept credit cards for the convenience of their customers. I’m sure every restaurant would generally prefer to deal with cash and not pay the fees, but I’ve heard that some major national chains prefer credit cards because it helps minimize problems with employee theft.
Woh so a company is offering their customers an incentive to use their product more?! The unmitigated gall.
Really this is a bunch of silly panic. The only interesting part is how big a reward Visa is offering. Given how thin the margins are in the restaurant business that could be many years’ worth of profit.
Aside from fuel purchases, I’ve been doing the same for a while now. Cashless societies are serf societies.
Yep.
You cash says “this note is legal tender for all debts public and private” — their refusal to accept it means one of two things (1) they are forgiving your debt, or (2) the statement is a lie and opens up the federal reserve to legal action.
Just because it’s legal tender doesn’t mean a company HAS to take it. The old $100 bill for a pack of gum test is the constant proof that business can say no to legal tender.
Although I’ve seen studies which show that people spending via credit card spend more than those paying cash. So the restaurant may end up selling more drinks or coffee and dessert to patrons who are paying via credit. Which would then make up for the credit processing fees they have to pay.
Another issue is that handling cash has its own costs of doing business. Someone has to count the cash, lock it in the safe, be responsible for it, make sure someone goes to the bank on Monday to deposit it, etc.
Which does NOT mean businesses must accept it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.