My business needs to insure cash that we keep at the shop in case we get robbed, but that amount is much much less than we pay in credit card fees. In other words, we would much prefer customers to pay with debit or cash.
Is this comparison made with the cost of transactions in the US or elsewhere? For example in Europe interchange fees are generally much lower, especially for debit cards which are also more common than credit cards.
What about the extra costs of handling cash, the practical effort to count it, prepare it for transport (including bags, counters, and so on), transporting to the bank, increased security, possibly more cash registers, counterfeit detectors etc.? Overall is it usually more expensive to take credit cards than cash or just in particular cases?
loading story #48373990
loading story #48375694