Paying with cash? We charge extra for that!

from WND:

 

In days gone by, American consumers used to, occasionally, get a discount for paying cash for a product or service.

The sellers had the revenue immediately. There was no lag time at a credit card company, or bank. And retailers found that helpful.

Now it’s just the opposite.

Houston Herald report tells how Noa Khamallah wanted to buy popcorn and a soda at Yankee Stadium, and was directed to an ATM, where he deposited $200 in cash, and got back a debit card –with a balance of $196.50.

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In the report, he said paying for anything in New York is expensive, but, “If you add on top of that extra fees for being able to pay for food, that’s not right.”

The Herald explained, “Reverse ATMs like those at Yankee Stadium are now common at cashless venues and restaurants across the country as a way to cater to those who prefer paying in cash. People who want to pay their parking tickets, tolls, taxes or phone bills in cash, meanwhile, often learn that government agencies and businesses have outsourced that option to companies that usually charge a fee.”

Cash, the report noted, still remains the third-most popular way to paying, adding up to 16% of all payments in 2023, the Federal Reserve confirmed.

Jonathan Alexander, of the Consumer Choice in Payment Coalition, said, “It’s unbelievable that we actually have to tell retailers, ‘This is U.S. currency and it’s something that should be accepted.’”

No laws demand businesses take cash, although a few states and cities have banned what they called “cashless” establishments.

Congress is working on a requirement that businesses take cash for in-person purchases up to $500 but it hasn’t passed.

Read More @ WND.com

Originally Posted at https://www.sgtreport.com