Visa has declared war on cash, and they are incentivizing small businesses to

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Jul 12, 2017
2:24:27pm

Skeptical Optimist All-American

Visa has declared war on cash, and they are incentivizing small businesses to

not accept cash. How successful do you think they will be?

http://pressreleases.visa.com/phoenix.zhtml?c=215693&p=irol-newsarticlePR&ID=2285993

To encourage businesses to go cashless, Visa is announcing The Visa Cashless Challenge, with a call to action for small business restaurants, cafés or food truck owners to describe what cashless means for them, their employees and customers. Visa will be awarding up to $500,000 to 50 eligible US-based small business food service owners who commit to joining the 100% cashless quest.

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Skeptical Optimist

Previous username: workindev
Bio page: Skeptical Optimist
Joined: Aug 2, 2006
Last login: Apr 19, 2024
Total posts: 78,935 (4,228 FO)

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Messages

Author

Time

Visa has declared war on cash, and they are incentivizing small businesses to

Skeptical Optimist

7/12/17 2:24pm

How does that play with the notion that cash is legal tender? Can I offer cash

ByuMba90

7/12/17 2:26pm

Plus, how will Visa know if you have accepted cash? Are these businesses

cucciolo25

7/12/17 2:28pm

There is nothing forcing a business to accept cash, unless you are paying back

Skeptical Optimist

7/12/17 2:28pm

Ah, thanks.

ByuMba90

7/12/17 2:31pm

why wouldn' something like that be illegal? all debts public and private etc..

EEcougar

7/12/17 2:27pm

Only applies to debts

Skeptical Optimist

7/12/17 2:33pm

So I could pay off my house with pennies

Copelius

7/12/17 2:43pm

Good luck with that

KingDave

7/12/17 2:32pm

That would be step 1.

Bert609

7/12/17 2:33pm

small business owners will laugh.

Bert609

7/12/17 2:33pm

I would make my small online business cash free if they really paid me $500,000

viper

7/12/17 3:24pm

.25%-2.5% isn't really crazy, and it's built into the price you pay.

7/12/17 6:45pm

One of the unknown "costs" of credit cards, is that you spend more...

lilpenny

7/12/17 2:33pm

There is nothing in the article about incentivizing businesses to not accept

Clark Addison

7/12/17 2:34pm

So Visa charges a fee for credit card use and they want people to spend more

ByuMba90

7/12/17 2:40pm

Also like Visa and other credit card companies encouraging tipping

coolcats

7/12/17 2:46pm

I own a business & give a discount for cash/checks so we dont have to pay VISA

YouPuntYouDye

7/12/17 4:02pm

I thought that was against VISA merchant account agreements? If somebody

Skeptical Optimist

7/12/17 4:20pm

guess I'd better not do that anymore then

YouPuntYouDye

7/12/17 4:25pm

There may be ways around it. Lots of people do it.

Skeptical Optimist

7/12/17 4:43pm

if it gets reported to Visa and they want to go after you, you will be denied a

Nat Gas Man

7/12/17 4:54pm

There is no problem with giving a cash discount. You cannot charge extra for

Pick-Six Coug

7/12/17 5:20pm

Makes sense. Thanks

Skeptical Optimist

7/12/17 9:05pm

Maverik takes.visa and they offer cash discounts.

Bert609

7/12/17 5:39pm

Correct, discounts are OK but a surcharge to use plastic is prohibited

Pick-Six Coug

7/12/17 6:09pm

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