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Business owners who prefer cash payments or who only accept cash

ended 03. April 2024

A journalist at the iPaper is looking to speak to businesses who either encourage customers to pay by cash or only accept cash.

He's keen to hear why cash payments are preferable - how much does it end up costing you extra in fees etc to take payments by card.

Are you worried about the demise of cash, and will it affect your business?

If you're interested in speaking to the journalist can you answer his questions briefly, and we'll put you forward.


 

1 responses from the Newspage community

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Legend
Jenny Blyth
Small business owner at Storm in a Teacup Gifts
Being able to take card payments is a ‘damned if you do, damned if you don’t’.
I will happily accept card payments because more often than not people don’t carry cash but it does ultimately shrink my profit margins.
When I’m at events (particularly those not near cash points) I end up having to take very tiny amounts via my card machine (someone once bought something for 50p) because people don’t carry money.
Not only does a percentage of that sale (1.75%) go to my card machine provider but I also have to wait for the cash to arrive in my bank account. If I sell something on the Saturday, the chances are I won’t receive it till the following Wednesday.
Despite that, if I refuse to take card payments I’ll most likely miss out on a number of sales so it is a really tough choice to make.