4 ms·
NB that handling cash isn't free either. You have to pay someone to count it, secure it, and steal it (you are arguably not intentionally paying people to steal
by likpok 9y ago
NB that handling cash isn't free either. You have to pay someone to count it, secure it, and steal it (you are arguably not intentionally paying people to steal cash, but shrinkage is certainly a cost of doing business in cash).
I've seen estimates that the cost of handling cash is actually higher than the interchange fees that Visa charges. This generally counts things like armored truck services, time spent counting cash (probably multiple times), time spent delivering cash, dealing with registers, etc.
- losteverything 9y agoCash recyclers are now common in most large stores. I know one stopped receiving ten dollar bills.
- revelation 9y agoWell, there is a third even better option, don't charge insane fees to finance ridiculous gimmick programs that for the vast majority of people never have >=1 RoI. Interchange fees for CC are capped at 0.3% and 0.2% for debit in the EU. No 20 cards in every wallet, black pink yellow variations, no "yes VISA but not MasterCard" sillyness. Honestly even the cap of 0.3% is still far too high.
- djrogers 9y ago> no "yes VISA but not MasterCard" sillyness. Is there anywhere that is actually a thing? Very rarely I see a place that won’t take Amex, but no visa or mc?
- snark42 9y ago> I see a place that won’t take Amex, but no visa or mc? Lots of places won't take AmEx or Discover (some of the highest fees in the business.) CostCo currently only takes Visa (no MC.) Sam's used to only take Discover. It's rare, but it happens. In this case it's also only for "credit" purchases, "debit" is ok for any card, but the fees are way less for "debit" than "credit".
- snuxoll 9y agoI've only run into one place in 2 years of having a Discover card that wouldn't take it, seeing Amex not accepted is rather common.