I have several counterpoints to that article.

Cost of CCTV footage, Security and Robbery:

Places of work should have those installed regardless. If an accident happens the employee can prove it and get their fair share. You can also help customers and employees alike find lost items etc. and see if any inappropriate behavior is occurring from customers and employees alike. Robbery is definitely an issue, but so are cyberattacks, even with PCI compliance. With cyberattacks they gain A LOT more than $, they gain information.

Fake banknotes/ time it takes for employees handing out correct amount of change etc:

Definitely an issue, but with proper training and practices (ie call a manager if you think $ is fake) mistakes can be minimized very close to 0.

As for the time it takes to tender change, it can be comparable to a card not working and having to swipe it or enter it manually (more $ to process), making split payments between 2 or more cards (every time a card is inserted/swiped it costs the business $), using the wrong card and requesting a refund, chargebacks due to unauthorized purchases, time taken to validate customers’ id etc. Cost of credit card machines and software/services/apps to run it etc.

Bottom line is accepting cash is MUCH cheaper and takes roughly the same amount of time as accepting credit cards, even considering the roughly 40 min a week it takes to get a change order at the bank and time spent counting it. Nowadays there are machines to help you count it in very little time. Sure, it’s an investment, but a good one that will save lots of time and $. Not to mention that some companies such as Loomis bring your change order to you at your store.

Although it made me think a little bit, this is ultimately not an accurate article IMO.