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Funny isn't it how these stores don't close when their POS system goes down but are more than happy to take cash.
by huffmsa 7y ago
Funny isn't it how these stores don't close when their POS system goes down but are more than happy to take cash.
- chrisseaton 7y agoWhy's that funny? It's not like it exposes some hypocrisy or moral duplicity. They'd rather not accept cash because it's bulky, dirty, slow, and expensive to handle. But if they can't accept anything else for a large number of customers for some reason they will go back to it.
- Slartie 7y agoIt is hypocrisy to a certain extent. Cash only works because people accept it. It depends upon enough people accepting it, because only then enough of physical cash will circulate in order to make maintaining all the infrastructure (printing it, putting ATMs up, offering cash handling for merchants etc.) cost-effective enough for it to be done. If suddenly 95% of cash acceptance was dropped, a lot of that infrastructure will vanish, forcing the remaining 5% to drop cash acceptance as well...a death spiral, ultimately ending with the elimination of cash and thus also the elimination of the very fallback that these stores mentioned by the OP relied upon. Consider the cost of accepting cash an insurance premium against technical failures in the electronic payment networks and your POS systems.