As more and more people use plastic for the most minor of purchases, the size and scope and cost of the credit and debit card processing industry becomes known. Retailers and consumers spend lots of money on fees.
People now routinely buy a cup of coffee, or a candy bar with their card. Restaurants barely deal in cash anymore.
Everybody has plastic and every transaction costs.
Of course there is a loss of liberty too as your life can be traced through purchase records.
Like cell phones and the Internet the conversion to a cashless society changes a lot of things.
It wasn't long ago the factory workers would line up at the nearby taverns to cash their checks so they could have a pocket full of cash...
While cash still is the primary instrument in my business, a lot of it comes from the ATM so its still really plastic.
Now the government wants to know who processes your cards so they can track your cash flow....
It's eerie and expensive.
Watertown Daily Times | Debit card fees