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...

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.

Cash only also means you can skip on paying (part) of the taxes because there is no record of any transactions.