One IGA store owner has a nifty trick to encourage cash purchases and he’s hoping the idea catches on, as the debate over a “cashless society” intensifies.
Kosta Tzortzis, who owns IGA Richmond in Tasmania, has been offering five per cent discounts to people who pay in cash, since the end of the COVID-19 pandemic.
“I’m surprised by how much attention it’s been getting,” he told 9news.com.au.
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“People have been talking about it.”
He was motivated after discovering that most card purchases incurred hidden charges because the purchase was made through credit – even on debit cards.
“If your card has a logo, you’re getting a surcharge,” he said.
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The hidden costs of dealing with electronic transfers disappear with cash, he said, which means he can pass the savings back to the customers.
“The elderly customers are loving it, they like to see where their money goes,” Tzortzis said.
He said people in their 30s and 40s were also keen, with repeat customers often make sure they return with cash even if they have a card on them the first time.
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But younger customers still prefer to pay with their watch or phone, which Tzortzis said was a shame.
He said he would like his idea to spread around other stores, with owners rewarding the use of cash however they could.
“If it goes away, it ain’t coming back,” he said.
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