Forget Google, time to end the Visa-MasterCard duopoly

Re:Forget Google, time to end the Visa-MasterCard duopoly by ipsum2 on Tuesday June 30, 2020 @03:45AM (#23687684)

How do you figure? Is it from counterfeit money, or cost to transport the cash?

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Re:Forget Google, time to end the Visa-MasterCard duopoly by eloisant on Tuesday June 30, 2020 @04:06AM (#23687840)

There is risk of theft too, not just robbery but from employees.

Usually the main reason some shops prefer cash is because they can put the cash directly in their pocket and do tax fraud on a percentage of their revenue.

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Re:Forget Google, time to end the Visa-MasterCard duopoly by consp on Tuesday June 30, 2020 @04:04AM (#23687829)

Bringing cash to a bank either via deposit boxes or by collection is not free and coinage is even more expensive than paper. At least here in Europe

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Re:Forget Google, time to end the Visa-MasterCard duopoly by orthoxerox on Tuesday June 30, 2020 @05:27AM (#23688263)

Yes, the fee for processing coinage and old notes is 50% in the bank I work for.

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Re:Forget Google, time to end the Visa-MasterCard duopoly by pnutjam on Tuesday June 30, 2020 @12:54PM (#23692072)

Wow, I just pour my coins into a machine that sorts and counts them for free at my bank.. oh right.. Credit Union!

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Re:Forget Google, time to end the Visa-MasterCard duopoly by dx034 on Friday July 10, 2020 @08:37AM (#23790866)

The easiest one is the time it takes to correctly count at the end of the day. That can easily take an hour even for small shops. If you go card only, you can just lock the door after the last customer and leave. Accounting for revenues and discrepancies (which always happen) correctly is a huge hidden cost.

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Re:Forget Google, time to end the Visa-MasterCard duopoly by easytiger on Tuesday June 30, 2020 @05:33AM (#23688299)

Banks charge to deposit cash in business accounts

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