Re: Refunds hide fundamentally insecure system
"Also, doesn't the merchant pay a small cut of each transaction? Cash doesn't provide that."
Business banking isn't free. The banks get their cut of the transaction when the business deposits the takings and/or "buys" the bags of coins. But that cut probably isn't big enough for them, especially since so many shops offer "cash back" as a way of "getting rid" of cash to reduce the banking fees.