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While "cash only" could be an indicator of tax evasion, it's also a way to sidestep credit card fees which can chew up a few percent of your profit margin.
by kardos 11y ago
While "cash only" could be an indicator of tax evasion, it's also a way to sidestep credit card fees which can chew up a few percent of your profit margin.
- dagw 11y agoAt least here in Sweden I'm seeing more and more places going "card only", leading me to believe that the cost (and risk) of handling cash must be at least as high as the cost and risk of handling cards.
- elthran 11y agoYeah, cash has to be counted, delivered to a bank to be deposited, can be "misplaced" by employees, the old "sorry, I don't have enough change" issue
- caf 11y agoBefore credit cards became widely used, restaurants used to be common robbery targets. A whole night's takings in cash is a solid score. That's no longer the case, because you'd mostly just get a pile of worthless credit card receipts for your trouble now.
- tveita 11y agoDoes Sweden have a national payment network similar to Canadas Interac? If so they might be paying much less than standard credit card fees.
- legulere 11y agoThey're at 1.58% for Visa and 1.73% for Mastercard in Germany if the information I found is correct. To save those fees some companies sometimes use direct debit instead.