August 22nd 2024.
Meet Kosta Tzortzis, an IGA store owner who has come up with a clever way to encourage customers to pay with cash. As the debate about a "cashless society" continues to heat up, Kosta is hoping that his idea will catch on with other businesses. He runs the IGA Richmond in Tasmania and since the end of the COVID-19 pandemic, he has been offering a five percent discount to customers who choose to pay with cash.
When asked about the response to his idea, Kosta admits he has been pleasantly surprised. "I'm amazed by how much attention it's been getting," he tells 9news.com.au. "People have been talking about it." And it's not just talk, he has noticed an increase in cash payments at his store since implementing the discount.
Kosta's motivation for this initiative came from his realization that card purchases often come with hidden charges, even on debit cards. "If your card has a logo, you're getting a surcharge," he explains. This means that customers end up paying more for their purchases when using cards instead of cash. By passing on the savings from these hidden costs to his customers, Kosta hopes to make cash payments more attractive.
And it seems to be working. Kosta shares that his elderly customers are especially pleased with this discount as they like to see where their money is going. Even younger customers in their 30s and 40s are on board, with some making sure to have cash on them for their next visit to his store. However, Kosta laments that the younger generation still prefers to pay with their watches or phones, missing out on the benefits of cash payments.
Kosta's hope is that other store owners will adopt a similar approach and reward customers for paying with cash in any way they can. He believes that if we lose the option to pay with cash, it will be gone forever. And to make sure that you don't miss any updates on his store, Kosta invites everyone to follow their WhatsApp channel for all the latest news, celebrity gossip, and sports updates. No comments, no algorithm, and your private details will remain hidden.
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