

The part everyone ignores is that the cash also has a price for the stores or anyone with a lot of money. They have to spend a lot more time, effort and money on security for their cash. After a while putting it under your mattress just doesn’t work anymore. And it costs you 1 - 2 % per received payment, but you also “save” 1 - 2% by having your money on an account where you get intrest on it while your under the mattress stash just becomes worth less and less purchasing power a lot faster… It’s a slight win for banks (waaaay less employees and offices), but the entire gain of electronic payment is definitely not benefiting only the banks, that’s oversimplifing things a lot.
















Less taxes are payed on cash because plenty of shops don’t register every cash sale, but a card payment you almost can’t not register correctly. That is the sad real reason many smallish shops don’t want to accept cards: it becomes a lot harder to illegally avoid paying taxes on a substantial part of your business turnover.