Did you know merchants in South Africa prefer electronic payment methods due to the risk of armed robbery?
Instead of “cash is king”, cash is risk, and risk is priced; large cash transactions cost more. Banks, property sellers, car dealers, wholesalers, and even some retailers routinely add security, handling, or compliance costs when payment is made in physical cash. These include armored transport, armed guards, insurance premiums, and internal controls. Those costs are either itemized explicitly or quietly baked into the price.
For shame.