Re: Refunds hide fundamentally insecure system
Certainties in life: Death, Taxes and Theft inc. card fraud
"Dealing with cash is a definite, rather high, cost."
Probably less than fraud or can you cite otherwise?
"Also, doesn't the merchant pay a small cut of each transaction? Cash doesn't provide that."
Credit/debit card Merchant service companies charge me between 2.5 and 4% so not such a small cut!
For cash, businesses do get charged a handling fee by the banks. My bank charges 0.5% to pay in bank notes, coins are a lot more. Not sure about withdrawals.