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> Cash has no payment fees. Cash does not require power This is a good example of 'out of sight, out of mind'. There are obviously costs in creating cash, dis
by joncrocks 8y ago
> Cash has no payment fees. Cash does not require power
This is a good example of 'out of sight, out of mind'.
There are obviously costs in creating cash, distributing it, maintaining it (take old/damaged currency out of circulation) and enforcement of counterfeit protection. And ditto for power.
These costs and power requirements are not obvious though, and so the end-user is not aware of the costs involved.
Any comparison between cash and non-cash needs to be sure to count the complete lifecycle of and payment processing and not just the bits that the end-user sees.
- Retric 8y agoThe same is true of credit cards by design. People don't see what can end up as 25% of vending machines costs etc.
- jlg23 8y ago> These costs and power requirements are not obvious At the time of payment they are irrelevant. > Any comparison between cash and non-cash needs to be sure to count the complete lifecycle of and payment processing and not just the bits that the end-user sees. Where is it convenient for you to draw the line? Do you include the production of card readers, the creation and maintenance of power and communication lines?