This sign was in a shop; it highlights the problem many businesses face today. With each payment method, there are plus and minus. For you to reject any payment method will cost you. There is no one solution, as every payment method has its merits for different people.
I am sure the bank fees are the big problem here, I am sure, to this merchant.
Some points that spring to mind here
- There is nothing wrong with asking people to pay in cash, and many prefer it.
- Many people today do not carry cash
- Do not fall for the claim; customers do not care about fees. They do. Often they pay it once and then do not return.
- BNPL does bring customers to many businesses, yet they have the highest costs. Is a percentage of something better than 100% of nothing?
