News for hackers. Stuff that matters.

A comment on New York City considering legislation to ban cashless retailers. Parent comment

Re:New York City considering legislation to ban cashless ret... by 0x445442 on Friday March 08, 2019 @09:53AM (#19337946)
> I can see all the advantages from their POV

Advantages of cashless? Is the cost of handling cash really greater than the percentage paid to the payment processors? It's an honest question and I'd be interested in some real studies on this because it would seem to be a hard metric to measure.

[ Parent | on HN ]
Re:New York City considering legislation to ban cashless ret... by dev_north_east on Friday March 08, 2019 @10:03AM (#19338046)
From my limited view of it all. Having no cash means a reduced risk of robbery, burglary, stealing cash by staff, not having to do bank runs, getting change in etc.

I don't know the costs or anything, but it must make sense for these businesses at least?

[ Parent | on HN ]
Re:New York City considering legislation to ban cashless ret... by 0x445442 on Friday March 08, 2019 @10:05AM (#19338074)
Does it make sense? Do the things you list add up to 2.5% - 3% of their revenue? I don't know.
[ Parent | on HN ]
Re:New York City considering legislation to ban cashless ret... by dev_north_east on Friday March 08, 2019 @10:08AM (#19338108)
I don't think they're that high. I did a brief search and both locations mentioned are using the iZettle in the following link (1.75%) - https://merchantmachine.co.uk/contactless/
[ Parent | on HN ]