Many small businesses prefer to have people pay in cash. If you go to a pizzeria, or a deli, in a place like New York you will most likely encounter them only accepting cash payments. However, in a lot of ways, they are missing out on a lot of money. In the world today, most people do not carry cash as they pay for goods or services with a card of their choice. That is the world nowadays.
Key Takeaways:
- Many smaller business places all over the world prefer to have these payments because it is good for avoiding taxes.
- Many people in the world today do not carry cash as everything gets more digital.
- It is difficult to imagine where and when the line is drawn against these types of decisions.
“The rising popularity of payments technology has also led to more negative consumer sentiment towards cash-only businesses, with three-quarters of Australians now believing cash-only businesses are old-fashioned and out of touch.”
Read more: https://insidesmallbusiness.com.au/planning-management/cash-payments-costing-smes-big-time
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