Why the farmer's market near my house stopped taking cards

I hit up the Everett farmer's market last Saturday morning like I do every week. Went to grab a dozen eggs from my usual guy and he told me no more cards, cash only starting today. He said the Square reader fees were eating up like 3% of every sale and he lost $200 last month just on processing. Now I gotta remember to hit the ATM before I go or I'm stuck with just my phone. Has anyone else noticed their local vendors switching to cash only recently?

2 comments

2 Comments

daniel59321d ago

Stopped going to my local one for the same reason, but the vendors told me it was the bank fees on their end and not just Square. Apparently some banks started charging extra for cash deposits from smaller businesses too, so they were getting hit twice. One guy said he switched to a credit union and it helped a little but not enough. Real bummer cause now I gotta carry cash everywhere.

casey1621d ago

Yeah for real, credit unions have been a lifesaver for a lot of the small biz folks I know too.