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That’s due to societal reasons though not really technical ones. In many cases it’s the businesses not being willing to pay the extra fees at all, regardless of
by ephimetheus 4y ago
That’s due to societal reasons though not really technical ones. In many cases it’s the businesses not being willing to pay the extra fees at all, regardless of how low they are.
This seems to indeed have started to rapidly change with covid.
- martinald 4y agoCash has a load of fees of its own though - loss, theft, peoople giving wrong change out, transport costs (and the risk it entails), bank fees to accept etc. I believe the cost of handling cash is estimated at 1-2%. I know my business bank accounts all charge 0.5%-1% to pay cash in. The only way it makes sense is if you are evading tax, as you'll happily pay 1-2% in cash losses to save 20, 30, 40%+ in taxes.
- ephimetheus 4y agoI've never got it either. I do have to say though that the German society is super focussed on cash as a thing so I wouldn't be surprised if the associated cost of it were lower there. It doesn't make sense to me however that the economics are ostensibly so different between e.g. Germany and France, where in the latter basically even small shops don't care. Either it's something to do with taxes like you said, or German shop's margins are razor thin.