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> Businesses and consumers will not be worse off. What’s your calculation? The costs aren’t zero. Businesses will need to re-tool. Consumers will spend more
by WalterGR 1y ago
> Businesses and consumers will not be worse off.
What’s your calculation?
The costs aren’t zero. Businesses will need to re-tool. Consumers will spend more because purchases will be rounded up to the nearest nickel.
What’s going to offset those costs?
- sgerenser 1y agoRegister systems like Toast, Square, Shopify, etc. will have to issue a software update that rounds cash transactions to the nearest 5c. It will certainly be a cost, but not an very large one, and no business is likely to see it as a line item on their P&L beyond what they already pay to their POS vendor.