Re:Visa and Mastercard agree to lower average credit card in...
by usernew on Saturday May 20, 2023 @05:46PM
(#36015906)
What I am saying, is what I said. Which has little to do with that to which you are replying. Please read it, and reply to that if you so choose.
Re:Visa and Mastercard agree to lower average credit card in...
by amscanne on Sunday May 21, 2023 @11:57AM
(#36022236)
You just asserted it was a lie, but didn’t say why. I want to know how you are refuting the “cashless is cheaper” argument? All of the business owners I know value cash only for the ability to declare a bit less, the fees are a wash with the complexity of dealing with cash. If you are arguing that there is another reason it’s cheaper but not saying how — please tell us! Or are you talking about the every-day, minor tax fraud that makes it cheaper?
I believe the oft-cited reason cash is more expensive is primarily due to shrinkage, which is on the same order as the credit card fees (unless you’re a family-run business or have only amazingly trustworthy employees). Cash-only discounts can be just as easily explained by the “flexibility” cash provides — you can’t assume the conclusion as a fact. The fact that most cash discounts are greater than 1% generally supports this idea, since a business offering a 3% cash discount definitely earns less than taking plastic. (But the accounting “flexibility” is worth more than that 3%.)
Are you saying this is not true, and cash shrinkage is less than the fees?