Comment by iso1631
16 days ago
In my country card fees are less than cash fees, so I guess that's a wealth transfer from card payers to cash payers?
16 days ago
In my country card fees are less than cash fees, so I guess that's a wealth transfer from card payers to cash payers?
That’s a great point.
Managing cash for a merchant also brings real costs as well.
You have to take it to the bank or pay a service to pick up cash. You’re way more likely to have “leakage” when any cashier can pocket cash. Etc
The costs of credit cards are higher in part because of the reward programs for using such cards. That's where the wealth transfer happens, and there's nothing like this for cash.