Comment by RcouF1uZ4gsC
4 years ago
Handling cash is not free. You have to count it. It can be easily stolen. It is a target for armed robberies.
In addition, credit cards increase how fast you can process customers. Given all that, I am not sure that credit cards are such a bad deal for merchants.
Yeah, cash looks cheap when being handed over the counter, but the costs are realized later. Brinks and Loomis are both multi-billion dollar companies.
Debit cards is the cheapest payment mode for merchants. Then cash. Credit is most expensive.
Not if the merchant wants to evade taxes. Which is why you see 10%+ discounts for cash (but not debit card or ACH) at some small businesses or independent contractors.