Cash Only, please. (Jamestown: how much, movie theater, shop)

[PghYinzer]

Although I agree the fees may be too high, they do cover the costs associated with the vast network of equipment, employees, and infrastructure that allows for such an instant transaction. Banks have shareholders, and are in a business to make money (not saying that justifies anything) but if they didn’t capture those swipe fees, how do they make money on any of those transactions?

[UKyank]

Originally Posted by Moby Hick

I don't think they're oblivious at all. The places that do it that I see in Oakland are small, family-owned establishments that have been there for long enough to have a well-established customer base. They are usually cheaper (and always have better quality) than the chains. I don't think that losing one or two students who don't carry cash would hurt them as much as if they had to raise prices to pay for overhead.

I guess if you're happy with the customer base that you have it's fine, but you'd be surprised how many people who are younger rarely carry cash now so it's going to be more then a one or two customers whom you are likely missing out on.

[don1945]

Wow, this absolutely amazes me, I thought we actually were moving toward a cashless society, like some people predicted years ago. I am from Pgh originally (now in Florida) and I never carry a penny with me, I live off of my debit card. Down here EVERYPLACE takes debit or credit cards, and I use mine to buy an ice cream cone or a huge purchase. I've actually gone away for a week without any money on me, just my cards.

I would think these businesses you speak of are winning on one end (not paying a 2% or whatever fee) but losing on the other end, by not getting the business of people who want to use a card. Very strange to read this in 2014.

In fact, I just had to take my cat to the vet and I paid the $662.00 bill with cash because I wanted to get that bill out of the way, and they told me they would have preferred a card because now they had to make a special deposit. At my job I run the register at times and the vast majority of people use a debit or credit card. It is rare to see cash and we get only maybe one check every several months, no one writes those any more.

Don

[Moby Hick]

Originally Posted by UKyank

I guess if you're happy with the customer base that you have it's fine, but you'd be surprised how many people who are younger rarely carry cash now so it's going to be more then a one or two customers whom you are likely missing out on.

It wouldn't surprise me that some of these places are trying to keep the number of students from getting too high and scaring off the norms. The places I'm thinking of draw an older crowd than usual for Oakland.

[jay5835]

The only place I know of that's cash only is Pamela's, and I know they do it only to make eating at Pamela's as inexpensive as it can possibly be. They take cards at their more upscale deli, Nu, which adjoins the Squirrel Hill Pamela's.

[Pitt Chick]

Originally Posted by jay5835

The only place I know of that's cash only is Pamela's.

And doing so certainly has not deterred customers! There is always a sizable line....

[PghYinzer]

Either Jacks Bar or Kopy’s just recently started taking cards, but it was always cash. Both had an onsite ATM, and everyone knew it was cash only, so you took cash. Daddypops diner in Hatboro, outside Philly is cash only, and there is a line out the door, they have an onsite ATM, or people took cash.

If a business is worth patronizing, people will pay no matter what.

[trackstar13]

Originally Posted by don1945

I would think these businesses you speak of are winning on one end (not paying a 2% or whatever fee) but losing on the other end, by not getting the business of people who want to use a card. Very strange to read this in 2014.

2% is not even close to what the fees are for small businesses. We pay anywhere from about 1%-5% of the transaction cost depending on the type of card, plus about 25 cents per swipe as well as several monthly fees that can be more than the swipe fees if you don't have many people using cards like Discover or American Express. Debit cards also charge fees, but at least they are only about 2% max.

[Moby Hick]

Originally Posted by trackstar13

2% is not even close to what the fees are for small businesses. We pay anywhere from about 1%-5% of the transaction cost depending on the type of card, plus about 25 cents per swipe as well as several monthly fees that can be more than the swipe fees if you don't have many people using cards like Discover or American Express. Debit cards also charge fees, but at least they are only about 2% max.

Plus, lots of the pluses that big businesses get from credit cards (e.g. not needing so many employees that can add, worries about skimming, etc.) don't really apply for small businesses.

[theta_sigma]

Originally Posted by jay5835

The only place I know of that's cash only is Pamela's, and I know they do it only to make eating at Pamela's as inexpensive as it can possibly be. They take cards at their more upscale deli, Nu, which adjoins the Squirrel Hill Pamela's.

Uncle Sams also is cash-only. At their Oakland location they have this new weird sneaky set-up where it looks like they take cards but actually what you're swiping is basically just an ATM. At Squill and Waterworks, it's straight-up cash only (Squill is right next door to a bank with 3 ATMs though).