Fwd: [Cryptography] Two articles on what is and isn't money

[Shawn K. Quinn]

On 12/26/2017 07:21 PM, grarpamp wrote:
> A patron tries to pay with cash at the West 40th Street location of 
> Dos Toros Taqueria, only to learn that only credit or debit cards
> are accepted. The Two Forks chain also does not take cash. Visa
> recently offered select merchants a $10,000 reward to switch away
> from cash transactions.

I can get a $10,000 reward to quit taking MasterCard, Discover, American
Express, and whatever other payment brands that aren't Visa. But to not
accept cash at all? It makes me wonder what team Visa is really playing
for here.

Also, printed on every piece of paper money in the US: "This note is
legal tender for all debts, public and private." Not sure how well this
is enforced anymore, but it used to be if you offered cash to settle a
debt and it was not accepted, the debt was canceled.


> ”the credit card companies, who make a commission on every credit
> card purchase, applaud the trend.

Of course they do, they are making money off of it.

> Visa recently offered select merchants a $10,000 reward for depriving
> customers of their right to pay by the method of their choice. He was
> told he could not pay with cash. He handed over his credit card.
> There was a problem with the card reader, or maybe the Wi-Fi. In any
> case, the machine was down. The cashier apologized and said the ice
> cream was on the house.

Wonder if Visa will reimburse the lost profit, or if it will eat into
the $10,000 he got?

-- 
Shawn K. Quinn <skquinn at rushpost.com>
http://www.rantroulette.com
http://www.skqrecordquest.com