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re: Establishments that only take cash
Posted on 11/29/12 at 4:08 am to mr. penguin
Posted on 11/29/12 at 4:08 am to mr. penguin
Not only does the credit card company charge the merchant a fee on the purchase, it also takes the fee from the total transaction, taxes which are not the merchants to keep just collect are also in the fee. Then it will take at least 3 days for the deposit to reach your checking account, so your money is tied up for a few days where cash can help buy supplies, or make payroll on time
Posted on 11/29/12 at 9:05 am to deerbutcher
FWIW - I've heard that Mandina's sales increased by 20%+ when they started taking credit cards a few years ago.
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