this post was submitted on 21 Aug 2023
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Medium sized business owner here. We pay a lot more for the handling of cash than for cashless.
According to my friendly neighbourhood corner shop owner they pay 3% on card transactions, unless it's over a certain amount and then they pay a flat rate.
But he's not sure what that amount is because as a tiny corner shop they basically never hit it.
Perhaps you'd pay a flat rate if you were paying for a PS5 or something in that price range, I'm not sure.
This is because the system hates cash and has erected all types barriers and inefficiencies when handling cash.
You should look into Monero, it is like cash but digital. No more worrying about your payment processor cutting you off because of you political views.
No, it's because handling cash is literally freaking expensive. You have to transport it (and especially coins can weigh a lot), you have to secure it on location and during transit (those bank transports are not cheap), you have to count it, you have to handle damaged money, ...
Cash is expensive. It's not "because the system hates cash", it's because it's a physical thing that has to be physically handled.
My payment processor doesn't know my political views.
Yes they do, but they agree with them for now so you are OK at this point.
How do you know
As long as you believe in state power monopoly you are fine, the bankers own the payments processors as well as the state.