Huong Trang Fish Market owners Trieu Tran, right, and her husband Yao Xue accept only cash. Going cardless saves the couple high service fees and simplifies their day-to-day bookkeeping.On a busy day at Huong Trang Fish Market – a stall within the indoor, year-round Hamilton Farmers’ Market – owners Trieu Tran and Yao Xue don’t get much downtime. Ms. Tran often handles the transactions while Mr. Xue cleans the fish, an efficient system the couple have refined over years working together.
It’s hard to know how many cash-only businesses are left in Canada but, by all accounts, their numbers are dwindling. A 2011 survey by the Canadian Federation of Independent Business found that 95 per cent of businesses in the retail and hospitality sector accepted credit cards and 93 per cent took debit. The organization plans to release updated numbers later this year.
Workers at Toronto’s Cherry Bomb Coffee say they prefer cash for its speed, but also for its simplicity. The shop in the city’s west end has an antique cash register, no computer, and on some mornings, a lineup out the door. Manager Courtney Wareham says a transaction takes between five and 10 seconds, and the count at the end of the day takes a few minutes.
Ms. Soueidan-O’Leary bought the seasonal business in 2015 and runs it as a social enterprise training young people with disabilities. Avoiding the complication of a debit-and-credit machine was part of her plan for simplicity, but also a cost-saving measure. Since then, she says, “the companies that provide support for debit and credit transactions have gotten smart. They made it affordable.”
GlobeSmallBiz The way of the future! I can’t believe someone is in business that doesn’t except plastic these days!
GlobeSmallBiz This is not the right move. They can’t force people to only use cardS!!!
GlobeSmallBiz I HATE this idea! Homeless, Bankrupt etc.. DO NOT CARRY CREDIT CARDS, IN FACT MANY PPL STILL DONT! It is these elitists who cant grasp not everyone has access to plastic! CREDITCARDs like MC are now pulling SJW moves trying to CONTROL what we say/politics w/USE OF THEIR CARD! NO!
GlobeSmallBiz I like cash myself
GlobeSmallBiz It’s not pressure. It’s forcing them to pay their taxes because you can’t hide behind a cash based system. Taxis and corner stores benefited for years in not paying taxes
GlobeSmallBiz There are some stores I won’t frequent because they don’t have Interact. I rarely carry more than 50 dollars in cash, and I don’t want to use my VISA. If you’re want customers to come to your shop, you should be bending over backwards to make things easier for them.
GlobeSmallBiz it's globohomo. imagine when they can just turn off your money
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »