Couple small places neat me are cash only operations. I don’t know why but in 2023 to be cash only seems a little suspect to me. Any legitimate reason?
Couple small places neat me are cash only operations. I don’t know why but in 2023 to be cash only seems a little suspect to me. Any legitimate reason?
Money laundering is the main illegitimate reason, but since you asked about legitimate reasons, there are a few:
Businesses that involve lots of micro transactions, ie laundromats, carwashes, arcades, etc.
Businesses that have a lot of customers who don’t really use credit or debit cards, ie laundromats, arcades, etc.
Businesses that operate on an extremely thin margin and can’t afford interchange/processing fees.
One thing in common with all of them is that they are all traditionally cash oriented businesses. And one of them has the word launder in it, lol. Doesn’t mean they’re all illegitimate though, some business models just aren’t conducive to taking credit cards.