Getting Discounts for Not Using Credit Cards
| August 27, 2009 |
What if you went into a restaurant for something to eat, and found that if you pay with cash you would receive a discount? Well for one restaurant in Farmington, Michigan that is exactly what has happened to many diners who have opted for the heavily slashed prices.
At a restaurant called Luigi’s Trattoria; diners receive up to a twenty percent discount when they decide to pay with cash. The reason for the discount is because at the end of the day the establishment makes more money when consumers pay in cash instead of credit cards. Since the discounts began, the owners say that they have seen a huge decrease in the amount of consumers paying for their meals with plastic. Not only that, he has seen an increase in business as a result of the good food at affordable discounted prices.
Getting discounts for using cash is nothing new, but it could potentially become a decent sized blow to credit card issuers and processors. With recent news of raising fees for both merchants and cardholders, it seems that both groups are now finding ways to benefit by leaving credit cards out of the payment process. For that growing majority, cash is king and seems to just simply cost less.
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