Would a Shift from Cards to Cash Really Help Retailers?

The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in response to the 2008 financial crisis, is celebrating its 10^th anniversary. The bill included the infamous “Durbin Amendment,” an 11^th hour power grab imposing price caps on fees merchants pay to process debit transactions. Since then merchants have tirelessly campaigned for even stricter federal price controls. Yet for all their opposition to the fees charged to process cards, the cash alternative remains significantly more expensive. This suggests that businesses enjoy the benefits and ease of card transactions but simply do not want to pay full price.