Is this a problem?
Does this make sense?
IMO stupid idea. People that would get that app would probably not be using cash anyway, plus I’m sure not many stores would use it. The future is cashless.
I don’t use my debit card, I use my credit card but for those that do use debit I think the round up option some banks offer is a good idea. It takes the change from a purchase and deposits it in your savings account. If you purchase something for $1.10 your debit account will deduct $2 giving $1.10 to the merchant and putting $.90 into your savings account. Easy way for non savers to save.
In the past year, I think I paid with cash MAYBE 5 times. I just don’t carry cash anymore. And with all the tip jars around, if there is coins in the change, it goes straight in that jar. So there is no benefit to me or to the merchant.
If you want to get rid of small change, and save the government a little bit of money, convince the Feds to stop minting pennies and nickels. It costs about 2c to make a penny and about 11c to make a nickel.
The only time I use cash is at the bar with my buddies, we each throw down a fifty and take turns buying a round. We go to a local farmers market a few times a month in the summer and 99% of the vendors take cards. Portillo’s (local fast food chain) has stopped taking cash at their drive-thru to keep things moving, IMO that’s the future of face to face purchases.
Allegedly Quick Trip was having a change shortage a couple of years ago, this may have been a way to address that.
In my area a lot of stores had a change shortage for some reason.
I don’t think it is a conspiracy theory, but I also don’t get it.
It’s not a problem I have but I could see where people would use it
The merchant pays that
I don’t see stores/restaurants using this, it won’t bring in more business and wastes employees time. I use Five Stars and quite a few businesses I frequent have it. The Thai restaurant we like has great offers and we go there anyway, same with my butcher.