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Why is it easier to raise prices/fees/tip % with cashless vs cash payments ?

• itake 2y ago
  cashless has higher tx costs, charged by the payment network. This puts upward pressure on prices, even for cash. it is also much easier to spend $250.99 on a credit card than to count out 13 sheets of paper and 9 coins. People went from spending the cash in their pocket to cash in their bank account, increasing demand for products.
  • rustcleaner 2y ago
    >People went from spending the cash in their pocket to cash in their bank account, increasing demand for products. I hate how so many just don't have the game theory of commerce in the forefront of their minds. It's always "Boy this stuff sure is super convenient," and "nevermind those crusty privacy kooks over there!"
  • brainwad 2y ago
    > People went from spending the cash in their pocket to cash in their bank account No they didn't. In the olden days, you would get your paycheque, cash the whole thing, and then spend that money until next paycheque. That's no different to having your pay go directly to your account, and then spending directly out of your account by card.