> Sniff-test-wise, I find it hard to believe that gas stations (and other retailers) would offer a cash discount if cash was actually more expensive for them to handle than credit cards. It seems unlikely that they wouldn't have come up with that without at least some research to quantify their cash-handling costs.
Well said. I totally agree, and I can't imagine any basis in reality for cash handling costing retailers 4.7% (much less 15.3%). Sure, cashiers need to handle change, but that's not a big cost compared to turnover for most businesses.
There are lot of other steps as well. Like counting the till, depositing the big bills and possibly getting more change. As in general lot of cash users use larger bills compared to the change. Moving this cash around, guarding it. Recounting it at times. Work spend outside the transaction with the customer. And it is not like bank will always offer free deposits or give out the right amount of coins for no fee.
Well said. I totally agree, and I can't imagine any basis in reality for cash handling costing retailers 4.7% (much less 15.3%). Sure, cashiers need to handle change, but that's not a big cost compared to turnover for most businesses.