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I low-key have a preference for businesses that don’t take credit, since they’re theoretically operating with lower overhead. (Though in practice this is limite
by Marsymars 2y ago
I low-key have a preference for businesses that don’t take credit, since they’re theoretically operating with lower overhead. (Though in practice this is limited to my barber, and my neighbourhood Vietnamese bakery and Montreal bagel shops.)
To your actual question, credit cards are tricky because a bunch of services are wrapped together in the same product, and there’s no practical way for businesses to accept charge cards and not credit cards. The number of variables and intermediaries here suggest that this is really a job for regulators - probably not to ban selling to customers that don’t have money, but to make it financially unappealing, e.g. by capping APRs, limiting advertising, etc.
- vel0city 2y ago> since they’re theoretically operating with lower overhead If they're decently sized, they're probably just not accounting for all the labor overhead of taking cash.
- Marsymars 2y agoYes, that’s a consideration, but none of the are cash-only, they also take Interac debit and Interac e-transfers. (Interac = Canadian debit.)
- bryanlarsen 2y agoThey're also likely cheating on their taxes. The cash only places I use frequently pretend to complete transactions on their cash register rather than committing the transaction.
- Marsymars 2y agoAs I noted in my other comment, these places aren’t “cash only”, they’re “no credit”. From my observance, most payments are still not made in cash.