Only Accepting Cash? ๐ต Not On My Watch ๐
This day and age one would think that most payments would be done electronically, especially with the online shopping rage and all the applications built for online transactions. And yet, in Suriname the majority of the people prefer physical cash payments.
I won't go into detail why that is, because I haven't really researched the why. What I do know is that most small local farmers, small local businesses and people who are practicing a vocational job (for example painters, carpenters, car mechanics, plumbers, etc.) prefer to be paid in cash. Some say they don't have a bank account and others say that the shops where they buy the material; needed to do their job well; also ask for cash money. And then, there is or was a shortage of physical cash. Banks had then taken measures by minimizing the withdrawal amount allowed per day and wanted to stimulate internet banking or paying via debit card.
Here I am, a potential customer with a bank card and the option to do online payments. Still there are shop owners who want to pressure you into paying with physical cash. Look, I'm all for stimulating local entrepreneurs and small businesses, but I don't like to be forced into paying your way. Especially when I know that the store has the ability to do electronic transactions, because of doing business earlier with them, and that the store owner refuses to use the electronic payment machine. If it's a glitch I can understand, but if you don't want to give me an explanation then I will leave those products right there and leave the store. And sometimes those stores are big businesses.
I may be just one person, so what impact could I actually have in this system? Well I used to be a regular at a store and just today the shopkeeper refused my debit card without an explanation. I left and won't be coming back, so that's one customer not returning.
There are many reasons why I refuse to give in to this old way of paying:
- it's safer than to walk around with lots of cash money.
- it's easier to trace my spending.
- I don't have to stand in long lines in the heat, only to pay my bills.
- the convenience and not having to wonder where that paper has been.
And now, don't be thinking that I'm the Grinch and that I don't want to support local businesses. There are some instances where I make an exception to the rule. I know how hard it is to open up an account at local banks; so many rules that don't stimulate one to open up an account; especially for those who don't work at a company or institute. Just like the plumbers, carpenters, etc. that I had mentioned earlier or those local farmers. I also support those small businesses who are honest with their customers and say for example that due to the lockdown their application is not yet processed by the bank or whatever. But I appreciate honesty and transparency.
What are your thoughts on that type of system? Should we go fully electronic or keep it partly cash?
Chasse into the backstage! ๐
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