Comment Re:they must hate cash, too (Score 1) 111
Larger businesses can find the cost of handling cash is larger than the merchant fees
Sorry, but this is utter bollocks.
I've worked deploying EFT systems both large and small. I can tell you there is a large American petroleum distribution company who's merchant fees utterly dwarf their staff costs. I'm sure they're not the only ones. A large Australian supermarket chain has stopped buying card only automatic checkouts because they aren't being used enough.
Cash and debit are far cheaper than credit. The problem is banks have addicted people to credit using rewards programs and charged the merchant to accept cards (which well and truly pays for them and some).
The cost of attendants/clerks/etc (who don't go away when credit is used) is not the only factor. Getting enough denominations for each day (small coins/bills from the bank are only fee-free when you ask for small quantities), reconciling the drawers, counting the cash, cash theft and counterfeit bills, etc all add up quick. Merchant fees and fraud chargebacks are certainly non-negligible but cash is not the silver bullet. That would be using silver (or gold). What could possibly go wrong with having an ultra-high precision scale at each register?