Cash is Cheap (and Cool!)

Posted on: 12/05/2011

Grumpy Granny shares her love of cash, and lets us all in on the inside scoop about how using cash rather than plastic can really help to save the pennies...

I have already made clear that I love my cash. I have loved men more, but only for brief interludes. Cash has been my life-long companion.

I keep a good stash under my bed, and whilst I am in no danger of vertigo, it is certainly an uplifting experience to have my wealth so near.

Of course, though I adore cash, I appreciate there are other ways to pay. Indeed, sometimes I am forced to use plastic if I am given no choice as to my preferred method of payment. Just so you know, I HATE having no choice, so when I have none, I resent it greatly. As I am about to explain, the resentment I feel is not purely emotional.

I only have a little job now but I have worked in retail all my life and I love shopping almost as much as I love my cash! Mary Portas is one of my heroes (though I don't share all of her tastes). Anyway, with my love of retailing and all things "shoppie", I was overjoyed to bump into a nice young man from the UK Retail Federation at a drinks "do" recently.

My new friend was a very interesting lad. I told him about my love of cash and I was delighted to hear that many retailers share my love. Why? Because, according to the young man, it costs retailers around 2p to process a cash transaction, 8p for a debit card transaction and 13p for a credit card transaction.

So cash is both lovable AND cheap to use - HURRAH!

The last thing the retail expert told me is that the Card Schemes don't like having the relative cost figures publicised.These are the same Card Schemes that spend hundreds of millions of pounds each year on advertising claiming that cash is dead, even though cash is used for 90% of all payments around our little planet.

It seems that Card Schemes may be great pursuers of profit, but certainly not of the truth. The truth is clearly something they conceal at all costs, costs that are paid by hard-pressed consumers like me (and you).

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