Skip to content

“Cash is King” – but how long before the King is dead?

Wednesday 4 September 2019

Mark

We accept credit card payments, Apple Pay, Android Pay, you name it – on both Van Henri and at Cafe Allez! Belvoir Castle.

It’s still staggering to us that some mobile operators (and even cafes, shops), don’t facilitate this when the technology is so easy to use and cheap to run now. Although, not so long ago, we did get harangued at an event for not accepting Bitcoin!

Many customers assume we prefer cash and whilst we’re always happy to accept either method, (unlike some London coffee shops that now have a ‘no cash’ policy), we do have a preference for card / Apple / Android payment. Here’s why:

Cash Cards
Charged a fee to bank? Yes Yes
Charged a fee to get change for a float? Yes What’s a ‘float’?
Time taken to set up till each morning 5 mins 2 seconds
Time taken to ‘cash up’ each evening 30 mins 0 seconds
Time taken for funds to reach account When we’re able to get to the bank 24 hours
Security risk It’s there so we have to be careful Nil
Hygiene risk Did your Mum give you the “old man’s pockets” talk? Nil
Speed of transaction for customer at till Slow Almost instant – I can be making your drink even while the payment is going through
Risk of error Moderate if I’m on the till and tired! Nil
Risk of fraud Moderate Next to nil
Embarrassment factor when we point out to an overseas Castle visitor that their tenner ceased to be legal UK tender in 2003 Moderate Nil

We care too much about customer service to be banning cash payments any time soon, but before too long, cash will be a distant memory for us all … and I’m fine with that.

PS in case you’re wondering … our percentage of card payments at the cafe is high, way higher than on Henri: most folks still take cash to an event thinking the caterers won’t accept / like cards.