But how does cashless pay make it cost a few bucks per serving more? If it is that, why would anyone offer cashless payment?
Most Döner and other Street Foods in Austria are cash only, but that's not the reason a typically priced Döner costs ~5€
Re:Why Restaurants Are So Fucked
by freeone3000 on Saturday May 02, 2020 @01:55AM
(#23049639)
Cash-only means no card reader rental, which saves a couple hundred per month and at least 5% of every transaction, and possibly no internet bill, either...
But you can't go cash-only because so few people carry cash, that our would drive out your sales.
> at least 5% of every transaction
In EU 0.3% or 0.2% depending on card type: https://www.reuters.com/article/us-eu-payments-cards-idUSKBN...
The company supplying and supporting the card machine adds a fee, so it's more like 1-2%.
You can easily get sub 2% in the US if you shop around and have ok volume. Just as much exaggeration in this thread as in the article.
5% per tx?! Remember, in Europe debit is way more common than credit and the fees are capped.
And I'm pretty sure no receipt and under-reported taxes. But what am I saying, that's only something that happens in PIGS, nobody evades taxes in Germany...
Re:Why Restaurants Are So Fucked
by tomatocracy on Saturday May 02, 2020 @04:07AM
(#23050220)
Banks charge for handling large volumes of cash though - can be as high as 2% I think; and as others have said 5% is way way more than you'd be paying to accept card payments. If anything the economic incentives are towards going completely cashless these days.
We have plenty of those in our ethnic neighborhoods. Heck even some very successful joints like Rosamunde Sausage Grill in the Mission District (S.F.) were cash-only until a couple of years ago, when I last went there.
Most other places accept cards & thus have to factor that into the price of the offerings.