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I was at a cafe and a homeless dude came in wanting to buy a coke for cash, the barista pointed to the “card only” sign and the guy left without buying. Seems e

• ac29 5y ago
  A small business never having to handle cash would have a non-trivial labor savings. Counting cash drawers in and out, preparing bank deposits, etc takes time that you have to pay for. No cash also means no theft of cash (by employees, generally).
  • armenarmen 5y ago
    Totally fair points, good call
  • usefulcat 5y ago
    That's true but it's not all savings; if you accept credit cards then you get to pay credit card fees.
    • jdeibele 5y ago
      Yes, but there used to be elaborate systems for handling cash. Department stores had pneumatic systems that would take deposits of cash and zap it to the strong room. When I first started shopping at Costco #2 they had such a system. The armored car fees, the bonded employees in the strong room, the extra guards, insurance, etc. weren't cheap. I remember reading an article about how happy businessmen (we're talking the 60's, so men) were to reduce the cash handling part of the business. Can't find it now but they felt the fees were worth it. Of course, they were much lower then.