5 ms·

Cash-only means no card reader rental, which saves a couple hundred per month and at least 5% of every transaction, and possibly no internet bill, either... Bu

Cash-only means no card reader rental, which saves a couple hundred per month and at least 5% of every transaction, and possibly no internet bill, either... But you can't go cash-only because so few people carry cash, that our would drive out your sales.

zdkl 7y ago
5% per tx?! Remember, in Europe debit is way more common than credit and the fees are capped.
tomatocracy 7y ago
Banks charge for handling large volumes of cash though - can be as high as 2% I think; and as others have said 5% is way way more than you'd be paying to accept card payments. If anything the economic incentives are towards going completely cashless these days.
distances 7y ago
> at least 5% of every transaction In EU 0.3% or 0.2% depending on card type: https://www.reuters.com/article/us-eu-payments-cards-idUSKBN0JV2SV20141218 https://www.reuters.com/article/us-eu-payments-cards-idUSKBN...
- imrelaxed 7y ago
  You can easily get sub 2% in the US if you shop around and have ok volume. Just as much exaggeration in this thread as in the article.
- Symbiote 7y ago
  The company supplying and supporting the card machine adds a fee, so it's more like 1-2%.
carlob 7y ago
And I'm pretty sure no receipt and under-reported taxes. But what am I saying, that's only something that happens in PIGS, nobody evades taxes in Germany...