Comment Re:Cashless can't happen, here is why ... (Score 1) 753
"The only thing keeping us from going truly cash free is the cost of exchanging non-cash things of value"
That, and the implied anonymity of cash transactions. Never underestimate the desire to not have a record of a purchase, even if it's just something that seems silly or stupid to someone else. Mormons will always pay for liquor and cigars with cash, for example. No need to get a (mis-)targeted mailing for the new Johnny Walker in the mail next year.
And there are times when cash is just faster. Not at a POS when change is needed, but elsewhere. If I'm running late and the waitress is dog slow, you can be sure I'll be leaving cash and just walking out the door. as soon as I get the check. I may not have 10 minutes for her to decide to come around to pick up my card and complete a transaction. And tipping a bellman for getting my luggage to my room - in a busy hallway it's far easier to give him a 5 or a 10 with my room number. Paypal/Square/... are slow compared to handing off a fiver. And, at least in the US, a discreet monetary thank-you is appreciated far more than a "transaction" that requires a 30-40 second interchange of electronics.
And, as a business owner, I chafe at car processors who bill me 3% of the gross on a transaction for the simple act of transferring a money from one account to another electronically. A transaction which costs a fraction of a cent to complete.