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And the businesses that wear the cost of transaction fees are starting to feel the pain in these high cost/high inflation times. A brewery caft that I enjoy has been a successful business since 2010 have not passed on the cost cashless payment, but are now looking to introduce a charge in the new year -

Cash is king but who pays with cash? – Over the past 2 years, cash payments for beer and food have become a rarity. EFTPOS transactions represent over 90% of all our transactions and the bank fees are staggeringly high and amount to 10’s of thousands of Dollars for our business each year. At present, we absorb these costs but may not be able to do so in 2025. Our business encourages cash payments as we would rather spend less money on bank fees and return this to our customers and staff. We will run a ‘pay in cash campaign’ in early 2025 and depending on the outcome, decide if we will have to pass on the EFTPOS transactions fees.

I'm happy to say that I don't mind withdrawing my cash and paying with cash, helps everyone and I get to meet and talk to people.

[URL unfurl="true"]https://www.aussiestockforums.com/threads/cashless-society.34710/post-1309211[/URL]

<blockquote data-quote="JohnDe" data-source="post: 1309396" data-attributes="member: 80862">And the businesses that wear the cost of transaction fees are starting to feel the pain in these high cost/high inflation times. A brewery caft that I enjoy has been a successful business since 2010 have not passed on the cost cashless payment, but are now looking to introduce a charge in the new year -Cash is king but who pays with cash? – Over the past 2 years, cash payments for beer and food have become a rarity. EFTPOS transactions represent over 90% of all our transactions and the bank fees are staggeringly high and amount to 10’s of thousands of Dollars for our business each year. At present, we absorb these costs but may not be able to do so in 2025. Our business encourages cash payments as we would rather spend less money on bank fees and return this to our customers and staff. We will run a ‘pay in cash campaign’ in early 2025 and depending on the outcome, decide if we will have to pass on the EFTPOS transactions fees. I&#039;m happy to say that I don&#039;t mind withdrawing my cash and paying with cash, helps everyone and I get to meet and talk to people.[URL unfurl=&quot;true&quot;]https://www.aussiestockforums.com/threads/cashless-society.34710/post-1309211[/URL]</blockquote>

[QUOTE="JohnDe, post: 1309396, member: 80862"] And the businesses that wear the cost of transaction fees are starting to feel the pain in these high cost/high inflation times. A brewery caft that I enjoy has been a successful business since 2010 have not passed on the cost cashless payment, but are now looking to introduce a charge in the new year - [B][I]Cash is king but who pays with cash?[/I][/B][I] – Over the past 2 years, cash payments for beer and food have become a rarity. EFTPOS transactions represent over 90% of all our transactions and the bank fees are staggeringly high and amount to 10’s of thousands of Dollars for our business each year. At present, we absorb these costs but may not be able to do so in 2025. Our business encourages cash payments as we would rather spend less money on bank fees and return this to our customers and staff. We will run a ‘pay in cash campaign’ in early 2025 and depending on the outcome, decide if we will have to pass on the EFTPOS transactions fees. [/I] I'm happy to say that I don't mind withdrawing my cash and paying with cash, helps everyone and I get to meet and talk to people. [URL unfurl="true"]https://www.aussiestockforums.com/threads/cashless-society.34710/post-1309211[/URL] [/QUOTE]

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