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>The merchant pays 2.5% The best way to pay for poor services already rendered and move on with life is to simply pay via card. Didn't like that haircut? Terri
by 1970-01-01 17d ago
>The merchant pays 2.5%
The best way to pay for poor services already rendered and move on with life is to simply pay via card. Didn't like that haircut? Terrible food at the restaurant? Hold onto your cash and slip them the card.
- tonymet 17d agoJokes on you. Merchants prefer credit cards because there is less loss than cash. 2.5% is nothing compared to 5-10% loss at the register. Plus easier and more accurate accounting.
- 1970-01-01 17d agoIf you're expecting 10% loss at the register and have terrible service, that's a 1-2 punch for bankruptcy.
- Onavo 17d agoACH is still the best https://gocardless.com/ https://gocardless.com/
- dylan604 17d agoGreat, so it is immediately deducted from my account and swiftly deposited into the recipient's account in 3-5 business days.
- Onavo 16d agoFor B2B transactions that's actually decent. And any disputes can be sorted out in court.
- anjel 17d agoWhile cc banks are in these times starting to side more with vendors on charge disputes, its still far more recourse than bank drafts offer you in a transactional dispute
- massagedpelican 17d ago20% more expensive than stripe, no?
- Onavo 16d agoCheaper actually, a lot less fees. Stripe is usually death by a thousand cuts.
- aand16 17d ago90% of cash I give to restaurants goes in the pocket, not the register. Bad service = card always.
- nonethewiser 17d agoAre you saying servers keep 90% of what you pay? Tip and otherwise? What country? How do you know? How could a business possibly operate in this reality?
- dmoy 17d agoNot necessarily servers, just not into the register as a tracked transaction. Tax fraud, essentially. E.g. you go to the Minnesota State Fair, merchants may offer to not charge sales tax if you pay cash. It is shockingly brazen sometimes. > How could a business possibly operate in this reality? Extremely lax enforcement on the part of the specific US state's department of revenue
- aand16 12d agoThe country of Europe. /s I hand the cash to the cashier and they respond with "thank you, have a nice evening", while eventually handing me a printout of my order from their tables organiser software, instead of the legally required fiscal receipt.
- seri4l 17d ago>5-10% loss at the register Where did you get this number from?
- foobarian 17d agoClankers found me one study [1] that suggests total handling costs may actually be this bad, but are highly business dependent e.g. restaurants are worse than grocery stores [1] https://www.ihlservices.com/product/the-cost-of-cash-handling https://www.ihlservices.com/product/the-cost-of-cash-handlin...
- zahlman 17d agoI'm just seeing what looks like an attempt to sell me a PDF. What actually is the source of such costs? The cashier still has to be paid even if the customer is using a card. Presumably there isn't anywhere near that much theft from registers, or people messing up giving change?
- supertrope 17d agoEmployee theft. Store manager theft. Robberies. Counterfeits. The extra time spent at each cash transaction and re-counting at the end of the day. Going to the bank, or paying an armored car service. Banks charge merchants a percentage of each cash deposit. Buying safes and pointing cameras down at each register.
- tonymet 16d agoGreat examples all around !
- porridgeraisin 16d agoThis. My extended familys shop really benefitted from moving away from cash. Now the only source of cash is people who are paying from their black money stashes.
- consumer451 17d ago
- asdff 17d agoIf your employees are stealing you should probably nip that in the bud...
- supertrope 17d agoCash allows for many more opportunities for diversion.
- asdff 17d agoYou know they count the till against the reciepts right? And frequently have cameras over the register drawer pointed at the employee? And send people to jail who try to do this?
- supertrope 16d agoMy point is you cannot entirely eliminate insider theft just suppress it. Cash payments are a lot "leakier."
- asdff 16d agoNot my problem as the customer.
- ThunderSizzle 16d agoNo, but it shows up in the bill just like everything else. Cost of doing business
- dietr1ch 17d agoSome businesses pass you the credit card fees if they offer other payment methods. You'll even hear about a discount around VAT/2 if you pay with cash sometimes. I think that hiding the CC fees into the price that you pay with all payment methods should be illegal.
- _zoltan_ 16d agoI almost never pay cash.