I just found out that Tacos Tu Madre no longer accepts cash.
A taco joint with a window in a wall that doesn’t take cash is the height of ridiculousness (much akin to a restaurant named “Nighthawk BREAKFAST Bar” actually not being open in the mornings for breakfast service, but that is a rant for another time…)…
Sorry for the negative vibes, but I’m typing on an empty stomach, and all this cash burning a hole in my pocket, with no one to take it.
HUH??? I don’t live in SoCal so this is the first I’ve heard of this. What’s the point? Is this limited to drive-thru’s? Has robbery been occurring? I used an ATM one time at a drive-thru when I had NO cash. Once.
I’m wondering if debit cards are the riskiest. Recently while out of the country, fraudulent use was made of two debits cards from different banks. The cards never left our hands, only used at banks with ATMs so it was electronic. Just saying.
I think a lot of this is technology changing the perspective toward running a business. Sort of playing devil’s advocate, here’s how I see it.
@CiaoBob already mentioned the major problems with accepting/storing/moving cash. It has its costs that do and can occur. I’m more comfortable dealing in cash because that’s the way I was brought up. But I do see a ton more people paying noncash (via phone is becoming very common).
Another big advantage is many of these POS credit card payment systems can tailor specific functions/have apps that benefit, streamline, delegate, organize and simplify functions and information for the business.
Cash adds another layer of work/complication to a business in terms of risk, bookkeeping, etc. For a fee by the companis that own the POS systems and the various credit cards, a business owner can focus on the business at hand, have piece of mind, not have to worry about running deposits to the merchant counter at the bank, have info more organized for bookkeepeing, track trends and inventory, etc.
I often see younger folks withdraw $20 from the ATM - and they’re good with that amount. I say to myself, “How long is $20 going to last that dude on a Friday night?” But the way that this generation has become so comfortable travelling with so little cash and pay instead with cards or phones is becoming pretty standard now. It’s kind of like the trend where this same generation is far more comfortable without a car as well as the impending arrival of the “driverless” cars. Streamline, delegate, simplify through technology.
The tax side of this is very interesting vis-a-vis the few remaining all cash business, which tend to have very favorable pricing. I ate at Noodle Cafe in Monterey Park on Sunday. All cash. And delicious. Very crowded and inexpensive. How come the owners don’t dig the freedoms and safety of the non-cash economy @bulavinaka describes above? I think well all know why - and in some ways we benefit (cheap food), and in same ways we are hurt (they don’t contribute to our collective welfare) by such tax avoidance.
We hear ad nauseam these days about how the wealthy do not pay their share but they are not alone.