3 ms·
For a lot of businesses, the overhead that comes with handling cash isn't worth it. Especially smaller businesses that would really rather not deal with the ris
by Kalium 5y ago
For a lot of businesses, the overhead that comes with handling cash isn't worth it. Especially smaller businesses that would really rather not deal with the risk of being robbed or having a staffer mugged for the nightly drop.
Credit card processors charge a processing fee per transaction, but the overhead of physically managing cash and so on isn't free. I expect many stores will decide to stay cashless for that reason, no matter what their peers decide. Being cash-friendly or cash-only is not free, even if people do tend to think of it that way.
As for SF's law, I think it's worth bearing in mind that it was originally written as a shot at the Amazon Go stores.
- walterbell 5y agoBusinesses whose existence is contingent on cost management may find themselves replaced by those that can manage both top line (demand, revenue, culture, brand) and bottom line. Especially IF the economy continues to fragment into online escapism for the poor and 3D experiences for those with discretionary spending, aka "inequality".