Technological advances have led to an almost cashless society.
However, some cash-only businesses are still thriving amidst the use of credit cards and other digital payment methods.
A cash-only business is one that accepts bills and coins only. This means no debit or credit cards, cash transfers, gift cards, or personal checks.
Cash-only businesses are often small startups that sell affordable items. For instance, you will most probably prefer to pay cash for a street painting or a babysitting service.
Similarly, businesses with low-profit margins prefer cash payments as they want to keep their costs low. Most of these businesses only require a phone, a few cash registers, and maybe one or two Carnation money counting machines to start-up. Adding a card reader to this equation may mean more startup capital and higher monthly expenses.
If you want to start a cash-only business, here are some ideas you can use.
Read more
However, some cash-only businesses are still thriving amidst the use of credit cards and other digital payment methods.
A cash-only business is one that accepts bills and coins only. This means no debit or credit cards, cash transfers, gift cards, or personal checks.
Cash-only businesses are often small startups that sell affordable items. For instance, you will most probably prefer to pay cash for a street painting or a babysitting service.
Similarly, businesses with low-profit margins prefer cash payments as they want to keep their costs low. Most of these businesses only require a phone, a few cash registers, and maybe one or two Carnation money counting machines to start-up. Adding a card reader to this equation may mean more startup capital and higher monthly expenses.
If you want to start a cash-only business, here are some ideas you can use.
Read more
The reasons why the CJEU decided to protect the right to pay in cash
