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by qaq 3095 days ago
Right but was mainly replying to "unlike credit, there's are no fees associated with it so it's slightly better for the seller too." There are fees for handling cash payments too.
1 comments

umm that's highly disingenuous.

If you accept cash -> banks have a fixed transaction fee (anywhere between $2 to $25 for any amount of money).

If you accept credit/debit/mobile -> there are atleast 2 transaction fees - one by the payment provider (generally % based) and one by your bank (fixed fee).

You're the one being disingenuous.

Cash has four transaction fees:

1) cost of storing it and counting it

2) cost of physically moving it to the bank

3) transaction fee.

4) increased risk of doing all of the the above.

there is a diff. between no fees and lower fees or different fee structure etc.