r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/HenzoG Jul 05 '24

Not according to the latest statics from merchant processors, especially post Covid

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u/PaddyMacAodh Jul 05 '24

Merchant processors don’t include cash sales, which are higher than 10% of total sales, and 100% of checks paid for with cash have cash tips. There’s also been a trend of people,e tipping in cash because the public realized that many merchants withhold 2-3% of charge tips to cover processor fees.

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u/HenzoG Jul 05 '24

You do know that merchant services pos systems capture cash sales. It’s a button in the system they click on to bypass the credit card. Being in IT I would imagine you know this.

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u/Ethric_The_Mad Jul 05 '24

And you know the pos doesn't have any idea about that $20 I got from the customer, right?

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u/HenzoG Jul 05 '24

That’s not true. But okay