Visa offers restaurants $10,000...if they stop accepting cash

Discussion in 'Currencies' started by bubbleboy, Jul 15, 2017.

  1. bubbleboy

    bubbleboy Member

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    I wonder if restaurants will turn away hungry people that only have cash, and what will happen if I offer the manager a bribe to let me pay in cash.

    "Visa "cashless challenge" shows cash is still biggest competitor"
    http://www.cbsnews.com/news/visa-cashless-challenge-cashless-businesses-cash-competitor/

    "Visa claims it has proof that cutting out cash can help small businesses. The company said it conducted a study that found if restaurants in cities across the United States stop accepting cash, they could bring in billions more each year.

    In New York City alone, Visa says the study shows, "businesses could generate an additional $6.8 billion in revenue and save more than 186 million hours in labor" per year. That report has yet to be released.

    When asked if Visa will expand its "cashless" push to small businesses beyond the restaurant realm, Visa's merchant solutions head, Jack Forestell, said the the current program is "part of a broader strategy and set of initiatives."
    http://money.cnn.com/2017/07/14/new...index.html?sr=fbCNN071417companies0626PMStory
     
  2. Golightly

    Golightly Well-Known Member Silver Stacker

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    I had a restaurant and eftpos sucks, $1000's of merchant fees a month and it takes 3 days to hit your account.
    Its just a nightmare. And you know if Visa are offering 10k to do it they fully expect to get it back in the future.
    Plus you would never turn away someone because they want to pay cash. I wonder if they want to install there own POS system to make sure you are complying
     
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    We've just introduced a surcharge for all eftpos transactions
     
  4. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I was with someone the other week who was crapping on about how awesome ApplePay was (it'll change everything, it's so much more convenient than cash, it's the way of the future, etc).

    I asked him if he'd caught any new Pokemon lately and we opened it up to see who had the most powerful one (yes, I know it's silly).

    10 minutes later his battery was dead and I had to get the next round of drinks.

    Cashless my arse.
     
  5. willrocks

    willrocks Well-Known Member Silver Stacker

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    ApplePay seems to be working well for him.
     
    Jislizard, Big A.D. and Davros10 like this.
  6. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    US$10,000 is next to nothing for a viable on-going business concern, even a relatively small one.

    Dealing in cash has risks and costs, but more than offset by the advantage it offers.
     
  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    You are obviously not in business.
     
  8. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I think what he meant was a ten grand sweetener isn't enough to annoy a reasonably large number of customers by ceasing cash sales.

    If half you customers typically pay in cash and half of those prefer paying in cash then you're going to piss off about 1 in 4 people who walk through the your door looking to spend their money.
     
  9. southerncross

    southerncross Well-Known Member Silver Stacker

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    Go the Blockchain :)
     

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