"Sorry, We Don't Take Cash..."

Unless the hourly worker has idle time that where they're not really working, they are going to have to work more time. Breaks are a legal requirement, so they're not going to get short changed on those unless the government or employer is pressuring them to work when they're not required to do so. I have a business with about 100 hourly employees. There's not getting around it. More work equals more hours equals more cost.

I don't even carry "the mark", all I use is cash. I suppose I'd have to find a place that's takes cash, or just go hungry.

I used to pay for everything with cash but have shifted to credit cards over the last few years. Even so I wouldn't be happy to find out I was forced to use cards. What's more alarming to me is something I've run into the last several months. The wife & I are both getting older so we have started trying to cross things off our bucket list. Some of those things include music festivals, sporting events, & other ticketed events. We have run across several that no longer have a hard ticket option. You have to use a smart phone & download an app. Not something I'm happy about for several reasons.

Yeah I have ran across them here in the Bay Area. Fortunately some chains are rolling back on this, and accepting cash again. As more municipalities ban cashless businesses, I think no cash business's will be a fad.

I would imagine at the very least there is a policy requiring all cash to be counted and documented before being accepted if for no other reason than to prevent theft.

The company I work for quit taking credit card payments.

For purchases/payments, the credit card provider (Visa, Master Card, Discover, etc) charges a fee, the card processing company charges a fee for every transaction, and then charges a monthly maintenance and use fee. For every dollar we charged, we were paying anywhere from 4% to 7.5% in fees. With invoices anywhere from 10K to 35k the fees would be up to $2,600.00.

In Florida, a company cannot charge a service charge for credit card payments. The local/state/federal government is the only body that could charge an additional fee for using a credit/debit card. The only legal option to recover those fees would be to increase prices. The price would need to be raised for the product or service. Then in turn, the company could offer a discount for cash. In a price driven industry, higher prices detracted customers even with the the offer for a cash discount.

So, I cannot understand why some companies only take credit/debit payments. I can only conclude, those companies have probably increased their prices to offset their fees.

Heck, most of my coins in my books are from pocket change.

$carlp007 Aye, and those charges really add up for the big banks who get their cut on the fees. My friend's little pizza, soup, sandwich, and salad shop enters over 40% of its sales through the credit card terminal. If for any reason a card is declined, he is still charged a fifty cent transaction fee.

In the long run, all consumers are paying a little more for this cashless society.

Companies with many small transactions are inclined to take credit/debit payments because their actual cost of handling/counting money is greater than or equal to the cost of taking the credit card payments. On the other end of the spectrum are companies like the one you work for. It absolutely doesn't make sense for a company with a few large transactions to take credit cards without a markup, especially because most of their business customers would pay the invoice without a credit card anyway.

My business is in Georgia and we can charge a markup for taking credit cards. It's 3% which just covers the additional costs. We only sell to businesses and typically only about 1% of our customers use credit cards. They are usually on small orders, so the dollars don't add up to much. This week we had a customer that's lake on paying for previous orders use a credit card in order to pay for them so that we would ship a new order that they need. Their fee for using the credit card was over $7,000! Their credit card company approved the transaction, but it actually took several days for our bank to approve it as they were initially not comfortable with the large transaction.



Yes, which is ironic considering that it should actually be an efficiency improvement. The market is getting more competitive with new forms of payment. Plus, many consumers now have 1.5% and 2% cash back cards. When you subtract the cash back from the markup, the actual cost isn't as much for them.