Although some people believe cash is going out of style, the statistics say cash is going to stick around for a while. Business owners in several different industries can attest to this reality. Many types of companies still process high volumes of cash on a daily basis.
Some of these businesses are obvious. You know casinos and banks process high volumes of cash every day.
Other cash-intensive businesses are a little more surprising. Here are five niche industries that regularly deal with plenty of cash.
1. Amusement Parks Handle Lots of Cash
It may come as something of a surprise that amusement parks still handle a good deal of cash on a daily basis.
There are a few reasons amusement parks still see high volumes of cash. One is park vendors. They may not have the equipment to process cards. Some areas of the park also might not have great reception, which can interfere with wireless payments. Automated vending machines and other amenities may also require cash.
Furthermore, many people arrive at the park expecting they’ll need to pay with cash. This could be because they’re not sure of the facilities, or they remember when the park didn’t accept credit cards. They might also be tourists, who tend to carry cash on them.
2. Zoos and Aquariums See Plenty of Coins and Notes
Other staples of the entertainment industry are zoos and aquariums. Similarly, these establishments are likely to handle high volumes of cash.
The reasons are much the same. People visiting zoos and aquariums often assume they’ll need to pay with cash. Many are tourists, who prefer to pay with cash, since it helps them keep better track of their spending. Visitors from other countries may not be sure if their credit or debit card will be accepted as well.
All in all, people see cash as the safest way to pay when they visit a zoo or aquarium.
3. Souvenir Shops Thrive on Cash Purchases
Souvenir shops may see high numbers of cash transactions for some of the same reasons zoos, aquariums, and amusement parks do. Many souvenir shops are located near or even within these establishments.
As before, cash is a safe bet for being accepted. People buying souvenirs are usually tourists, so again, cash is likely the preferred method of payment.
Another reason may be that people tend to use cash for smaller purchases, particularly under $10–$20. While souvenirs can become expensive, people often look to buy small trinkets.
4. Craft Breweries Have a High Volume of Cash
Another surprising industry that does more than its fair share of cash transactions is craft breweries.
Many breweries operate restaurants and souvenir shops. As noted, smaller transactions are normally paid for with cash. If someone decides to cap off their visit with a beer, they may pay cash, especially if their refreshment is under $20.
5. Fairs Run on Cash
Much like amusement parks, fairs tend to deal with a high volume of cash transactions.
It’s easy to see why. Even more so than amusement parks, fairs tend to be cash-only events. Although this is changing, cash is still the preferred method of payment today. It’s often easier for fair organizers and vendors to accept cash. The technology needed for other payments may not be available.
People may also use cash because it helps them keep track of spending. Children especially may be given a small amount of cash.
As you can see, there are a number of different industries that accept high volumes of cash. If you work in one of them, cash management may be a concern for you. Learn how to manage it better with tips from the experts.
