Re:G7 finance officials endorse principles for central bank ...
by yellow_lead on Thursday October 14, 2021 @04:09AM
(#28861670)
Hold on, "cheaper"? Tell that to people paying 1-3% transaction fees on credit cards. Even square is 2.6%.
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Re:G7 finance officials endorse principles for central bank ...
by sofixa on Thursday October 14, 2021 @05:16AM
(#28862025)
I distinctly remember articles about coffee shops and similar going cashless in a few different countries ( UK, France at the very least) because managing cash costs time and money ( it needs to be counted, stored, safely transported to the bank, etc.) and doing card-only payments comes out cheaper for them.
Re:G7 finance officials endorse principles for central bank ...
by sgent on Thursday October 14, 2021 @08:56AM
(#28863616)
Banks usually charge .9-1.5% for cash deposits, plus staff time to count, insurance, safes, etc.
A debit card costs .10c and no %. A well implemented cryptocurrency would be even less.