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| ▲ | zahlman 3 hours ago | parent | next [-] |
| I'm just seeing what looks like an attempt to sell me a PDF. What actually is the source of such costs? The cashier still has to be paid even if the customer is using a card. Presumably there isn't anywhere near that much theft from registers, or people messing up giving change? |
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| ▲ | supertrope 2 hours ago | parent [-] | | Employee theft. Store manager theft. Robberies. Counterfeits. The extra time spent at each cash transaction and re-counting at the end of the day. Going to the bank, or paying an armored car service. Banks charge merchants a percentage of each cash deposit. Buying safes and pointing cameras down at each register. |
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| ▲ | consumer451 2 hours ago | parent | prev [-] |
| Clank deeper, please. You gave us content marketing from the electronic payment industry: "Does IHL Group have any connections to merchant providers?" > IHL Group sells market intelligence, vendor directories, and lead generation data to the electronic payment industry. |
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| ▲ | supertrope 2 hours ago | parent [-] | | Definitely a conflict of interest. Cash handling costs is a real issue though. Not counting under-reporting income, credit cards cost the most at US intercharge levels of 1-3%. Then the all-in cost of cash handling. The lowest cost method is debit. | | |
| ▲ | consumer451 2 hours ago | parent [-] | | The lowest cost is in the EU in this regard. Anti-rent-seeking regulations ain't so bad for everyone, save the rent-seekers. BTW, I used to handle around $7M/year in credit card transaction in the USA, and if you got actual hand-written partial numbers on a signed contract, then we could avoid nearly 100% of charge backs, as we always delivered on our end. I think in 14 years, we had around 10 charge back attempts, and our merchant provider loved us. The only time I ever magically lost a charge back was to a Visa executive for ~$10k, and our merchant provider just shrugged. Whatayagonnado? |
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