I prefer cash, only use card for online / large purchases.
I loathe the way merchant services are so costly to my family's business
, so the thought of cashless society makes me
.
People come in with a card expecting them to take it for very small purchases (<£5) or on items which they make less than 5% profit.
For example they generally make GP of 20% that would mean out of each £5 they take they make £1 (before tax). The bank then take 15p out of that when a buyer pays with card, they lose 15% profit out of that transaction!
and that's not taking into account the monthly charges they have to pay for the terminal and business account!
News stories of when banks state card transactions account for such a low percentage of a purchase amount should come and speak to small retailers.
Consumers think merchants services are free! they are not!
They also pay higher rates for the so called "Premium Credit / Debit cards" , the ones where the customers get points / % rebates.
Rant over, sorry
.