Paying cash: why is it cheaper?

open question because there are many different answers to this at least I hope you go to the stores to buy something you go to the stores to buy something ok how can you pay money? Be more specific. I can raise one of the guys' hands. good talk a debit card debit card number one no change of tone good so combine other gift cards excellent a bank that cheeseburger costs two dollars because I pay with a bank line? Well, actually we'll get two loans, just another one. one, someone else, residents, a damn thing, check if you live in the nineties, check, what does it say?

Lucas, savings, okay, that would be nice, so applause, so what do you do, I defend it, let's make this go electronic and I heard the front funds transfer their transfer right, transfer from you to the guy who gets paid at the point of sale, so it can be there at the checkout and works on the case to pay the reward, okay, sorry, I'm getting a I got a little ahead of myself. I said that f+ applies to a lot of delays, but I stayed there for a second. I'm getting a lot of good answers, but there are quite a few on the board now, many of what you're talking about.

I am already on the board or they are not actually payment methods. I will give you an example. Okay, leaving aside is not a form of payment, in fact, it is a form of non-payment, right, it is a non-payment. for this and we agree on the conditions for how it will work in the future, okay, so before you raise your hand and shout a few more now that we have a few more on the board, think about where I fit. I'll give you one more example and what's already on the board is points, points, where do you think they are critical points like, well, what do you think fits here and I'll give you a hint that it's not credit, they would almost certainly be gift cards? and I'll tell you why I'll show you one right now if you have a correct credit card and you're earning points before that kind of thing, everywhere you go, it's actually very small mistakes when you go to collect. your thousands of points to get value out of that, what they're going to give you is a gift card, right? and then you can use that, which is like well, I actually have, I still have $7, that's fine too.

Oh, is there? others that you actually thought about it are not on the list yeah, hey, honey, okay, wait, come in, come in, come in, come in, paywave, same kind of idea, right, it's actually just one form of this, It is a fall, it is a ditch, it is still a path. of pain, but it's just that the chip is different, yes, that's right, so the physical scanning methods are different, okay, but it's really any of these, right? It's a pretty good list, are you guys happy with that list? You know, today it exists as I said.

If you live in the 90s, you pay by check more and more, you can't pay by check anymore. Well you can't always pay with the next, it's probably credit, but you can't always pay with credit in some places there. I'll go there and they'll have a sign that talks about credit cards and it says something. Any suggestions? Has anyone read these signs before? Have you paid attention when you enter a store? Well, first they might say: forget it if you want. Buy me a taxi, you get

cash

again. I don't take credit cards, okay, the other thing they might say is they take credit, but they say, but okay, number one, you know, they might say, yeah, motox, I'll get it. gets into the reason why you have a thumbs up, ah, I had another one, um, they'll say, they'll say an amount and the amount varies, it's 5, 10, 20 or whatever, right, but they say look, if you're going to buy something small, I would.

Accept your credit card. I will only accept

cash

or debit at this time. Wait, this is really interesting, give me different amounts, right? Why do they have the machine sitting there like a little possum F reader? Things are correct, why would they apply? a little bit of some kind could wait, oh okay, since they force people to buy, the most objective case is the business women at the front, okay, something you said, taxes. I'll postpone it on this side for you. I want to hear what it looks like. said you're going to say that, okay, let me explain, let me explain, okay, um, American Express, why is there, why is there, what's the no, for discrimination against one type of credit card versus the yellow, are they the bad ones?

It used to be common to get club diners but they are very uncommon these days these three days the big ones and their international yeah ah okay now it has to do with something called surcharge I put this in another hello yeah could you if you are in the other side of the business, you may owe is such, what is a surcharge, it is a small additional fee, so here is the idea, let's change our position now. I asked him about all this in terms of his pain, okay now let's put you on the other side of the counter, someone comes to you, you are a supplier and they want to pay you with these methods, okay, here's the right thing: establish cash no It costs you nothing, right? like if I put five dollars in your hand, you can't possibly get the five dollars right, but to make credit or debit cards right, like we're talking about that machine, that machine costs money number one, you have to buy the machine number .

Two, they often have to pay ongoing fees to continue using it correctly. Some of you realized, like some of them, they are actually wireless, but they don't. They can take it anywhere. It works like a telephone. reception and dial and talk to the bank and do all these fancy F things well, it's not free, there are guys here who will charge you for it, okay, now in particular American Express is famous because they charge the engines well, so if you are a small guy and as a store you don't get much business, why would you bother

paying

these guys a lot of money every month or every quarter?

Whatever, it shows you that you can get the AMEX people right. They probably have some other card in their wallet anyway or cash, so you say no, forget it, I'm not going to pay them, alternatively, you know, even when you do it with these guys, who are a little better, this still it costs, okay and that's why I'll apply a minimum to force you to buy more so that for you as a supplier, yeah, it's worth it, okay, yeah, Coleman, yeah, it's nice: yeah, like it's um. I would put Visa and MasterCard for American press. I would put them all on the same level.

Not that this is a little guy, but because of this surcharge business, this is them, this is their business model, this is how you wonder how the credit card companies made money, they earned it, they didn't get it from you, they did. businesses charging them, okay, now here's the thing again, quick question just, whoever it was, it's exactly like a phone call exactly the same, I think it was that, but let's move on, okay, now everyone's okay if you have if it is instead of after you. I can go back to okay now again I'm putting you in the business place again okay now let's say you really want to be able to give credit okay, but it's costing you money okay, you won't be able to pay you credit, but you have to rent them, so these devices you don't pay these guys so this is what you do okay yeah from CBA or whatever by the way CBA, Westpac E&Z etc are not the credit card providers. guys okay that's a sign this is what you guess one day you didn't have the credit card machine you're going to buy one you're going to rent one so it's going to cost you money they're not cheap so this is what you do , why not? we have before we have like a soda or something, we had like 500 thousand bottles, a liter, voila, Toledo bought and they had some costs, remember, it makes a lot of sense, it's like a dollar 20, okay, so this is what you remember the cost to you. a business to be able to assess credit correctly, it's not just one time, it's still going to do well, so you're making the same amount of money but you're making less profit because you have to pay these other guys, so here's your solution. your solution you take all your stuff right and you just add a little to each one you make them all a little more expensive something like this maybe you go up too many cents maybe a dollar fifty maybe 275 something like this okay so this is your way of Compensating your people like that is an extra charge that I'm going to pay but I still ask God to, you know, feed the family and all that kind of stuff so that I can't get my profits, what I take home and I can spend.

I will have to increase these prices to compensate for this. Okay, this is really interesting because now, if you come in and say, "Hey, you raised your prices correctly, but maybe you hadn't even done that." Probably most of you don't have credit cards because you have to have a similar income and that kind of thing people just hand over, so it's like you pay cash all the time. This is not fair. I'm getting scammed because other people want to use credit other people use credit so companies recognize it and that's why they do things like this recognize these are the good ones this is the action and say pay less pay in cash what is that what does that mean Someone actually did this before, yeah, okay, so what happened wasn't me, so this is a simple concept, right?

But why doesn't it have to do with GST? It has to do with this difference if you are

paying

cash to the business in a sense. They don't have to, you don't have to foot the bill for all of these things, so they're willing to pay you this lower price. Sorry, you're willing to let me pay the lowest price, instead of this higher price I'll pay for F pause, okay, this makes sense, so this pay less, pay cash business is all about this, it's really quite interesting.