• keckbug@lemmy.world
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    7 hours ago

    Obviously it varies from business to business. Some may not want the hassle, some may see consumer sentiment against fees and not feel it’s worth the impact. Some are content to merely leave prices 3% (or more) higher.

    Ultimately, very few businesses price things based on their costs…instead they price based on what they think people are willing to pay, or what the market will bear.

    It’s also worth considering, at the scales of many of these businesses, accepting and handling cash is very much not a free option. If I’m a supermarket chain, I pay a card company a few percent and maintain my payment terminals and I magically get my income deposited daily directly in my preferred bank account. I’ve got some risk with stolen cards and chargebacks, but the big Chip Card and Mobile Wallet rollouts have dramatically limited my exposure to that liability.
    With cash I have a substantial cost to handle, collect, count, and deposit at each location. I have concerns about counting accuracy, interval and external theft, counterfeit currency, purchasing change from my local bank (which typically has a fee assessed for businesses), etc.