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In right there with you. I live in a small town and so whenever spending money at a local small business I try as much as possible to use cash. The shopkeeps wh

In right there with you. I live in a small town and so whenever spending money at a local small business I try as much as possible to use cash. The shopkeeps who are also the owners are so appreciative as it's essentially a 5-7% "tip". It's difficult for them to keep good change though as people who do spend cash are either $20 or $100 bills which for a few $5-10 items consumes the small bills pretty fast. But in a no sales tax state so makes giving change easier (no coins)

doubled112 1y ago
> It's difficult for them to keep good change I've felt this struggle from the other side working at a gas station attendant. We were only allowed to have $100 before the till made us dump it. Can you break this $100 bill? Maybe if you pump another $50 in fuel, unless you want this roll of quarters too.
gruez 1y ago
>The shopkeeps who are also the owners are so appreciative as it's essentially a 5-7% "tip". Because tax evasion? Otherwise credit card interchange rates are nowhere that high, typically 3%.
- manwe150 1y ago
  Square is 2.6% + 15¢, so to get 5-7%, you could be doing most transactions under $5. That seems to require fairly high sales volume to make any decent wage though, so there is an added transaction cost for them to “keep good change” instead of serving more customers
  - basch 1y ago
    Cash costs as much or more to handle. Potentially ranging from 4.7% to over 15%, costs include labor for counting change, closing drawers, preparing deposits, security expenses like armored transport, bank fees for cash services, insuring against significant risks of theft and fraud.
    - IAmBroom 1y ago
      True, but it's a hidden cost, so less "painful" to small merchants. In the end: fairly unimportant... except for that perceived "cost".
- imajoredinecon 1y ago
  If it's 3% + $0.30, that can easily be 5-7% for smaller transactions, which are the ones where I most often get asked to pay cash.
bluGill 1y ago
> The shopkeeps who are also the owners are so appreciative as it's essentially a 5-7% "tip this is false reasoning on their part. They never have thought about how much cash costs them so it looks like extra money but it really isn't. they need to count the time lost to counting the cash as you pay, then the time to count the money in the till at the end of the shift. Each count above is 2 counts at best the average is closer to 3 because you sometimes get it wrong. There is also theft costs which is generally ignored but a real problem. credit cards is money right to the computer which is not only fast it makes less mistakes.
- snuxoll 1y ago
  Many banks also charge fees to process cash deposits for business accounts, as well. It's still often a tenth of credit card interchange fees, but between that, labor to balance your cash drawer, and actually go to the bank to make the deposit, the difference isn't as substantial as you'd make it out to be if you only look at the direct surcharges to process the payments. That said, while I default to using Apple Pay for basically...everything, I too do not wish to live in a society where large companies get to govern every transaction I make. Or, for that matter, every transaction I make being on a ledger that the government can monitor.
  - pixxel 1y ago
    [dead]
- normie3000 1y ago
  > they need to count the time lost to counting the cash as you pay Do they? Unless the shop's always serving customers, this may be free time.
  - LocalH 1y ago
    Even if the place is jacked, if you have enough staff, this could be one trustworthy person (under camera surveillance) that has other functions throughout the day.
  - 1y ago

doubled112 1y ago

> It's difficult for them to keep good change I've felt this struggle from the other side working at a gas station attendant. We were only allowed to have $100 before the till made us dump it. Can you break this $100 bill? Maybe if you pump another $50 in fuel, unless you want this roll of quarters too.

gruez 1y ago

>The shopkeeps who are also the owners are so appreciative as it's essentially a 5-7% "tip". Because tax evasion? Otherwise credit card interchange rates are nowhere that high, typically 3%.

manwe150 1y ago
Square is 2.6% + 15¢, so to get 5-7%, you could be doing most transactions under $5. That seems to require fairly high sales volume to make any decent wage though, so there is an added transaction cost for them to “keep good change” instead of serving more customers
- basch 1y ago
  Cash costs as much or more to handle. Potentially ranging from 4.7% to over 15%, costs include labor for counting change, closing drawers, preparing deposits, security expenses like armored transport, bank fees for cash services, insuring against significant risks of theft and fraud.
  - IAmBroom 1y ago
    True, but it's a hidden cost, so less "painful" to small merchants. In the end: fairly unimportant... except for that perceived "cost".
imajoredinecon 1y ago
If it's 3% + $0.30, that can easily be 5-7% for smaller transactions, which are the ones where I most often get asked to pay cash.

bluGill 1y ago

> The shopkeeps who are also the owners are so appreciative as it's essentially a 5-7% "tip this is false reasoning on their part. They never have thought about how much cash costs them so it looks like extra money but it really isn't. they need to count the time lost to counting the cash as you pay, then the time to count the money in the till at the end of the shift. Each count above is 2 counts at best the average is closer to 3 because you sometimes get it wrong. There is also theft costs which is generally ignored but a real problem. credit cards is money right to the computer which is not only fast it makes less mistakes.

snuxoll 1y ago
Many banks also charge fees to process cash deposits for business accounts, as well. It's still often a tenth of credit card interchange fees, but between that, labor to balance your cash drawer, and actually go to the bank to make the deposit, the difference isn't as substantial as you'd make it out to be if you only look at the direct surcharges to process the payments. That said, while I default to using Apple Pay for basically...everything, I too do not wish to live in a society where large companies get to govern every transaction I make. Or, for that matter, every transaction I make being on a ledger that the government can monitor.
- pixxel 1y ago
  [dead]
normie3000 1y ago
> they need to count the time lost to counting the cash as you pay Do they? Unless the shop's always serving customers, this may be free time.
- LocalH 1y ago
  Even if the place is jacked, if you have enough staff, this could be one trustworthy person (under camera surveillance) that has other functions throughout the day.
- 1y ago