Also, cash has its builtin handling costs. It needs to be handled and counted by cashiers, which usually takes more time than an electronic payment transaction (iff the electronic transactions go smoothly).
I don't have any insight on how much costs this is actually causing BTW. But I recall handling costs for businesses being an argument in the debate to abolish pennies (in the US) or 1ct/2ct coints (in Europe).
> But I recall handling costs for businesses being an argument in the debate to abolish pennies (in the US) or 1ct/2ct coints (in Europe).
FWIW, the merchants in one city in Germany are currently trying to stop accepting 1ct/2ct coins, because the bank charges the merchants 1ct per coin to deposit, so they aren't making any money on it.
I don't have any insight on how much costs this is actually causing BTW. But I recall handling costs for businesses being an argument in the debate to abolish pennies (in the US) or 1ct/2ct coints (in Europe).