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The vendor has calculated the transaction cost into their prices. You're paying ~2% more than necessary if you pay with cash.
by Mindless2112 8y ago
The vendor has calculated the transaction cost into their prices. You're paying ~2% more than necessary if you pay with cash.
- ThrustVectoring 8y agoThe vendor often isn't even getting that 2% anyhow - it's dead losses from cash-handling expenses and employee theft.
- kerkeslager 8y agoNot if I shop at cash only places. Is it feasible to do this all the time? No. But quite often it is.
- spookthesunset 8y agoI personally believe most of the "cash only" places (or places that beg you to pay cash) only do so to get out of paying taxes. It's a lot easier to underreport your income if your whole business is cash.
- ThrustVectoring 8y agoMany businesses are cash-only because they had so much credit-card fraud associated with them that no merchant bank is willing to process their payments.
- kelnos 8y agoThat doesn't refute the argument for having and using a credit card for places that do take credit cards, when you inevitably run across one of them.