Cash is king no more as some stores go cashless

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This article was published 04/12/2024 (277 days ago), so information in it may no longer be current.

The owners of Winnipeg’s largest private wine store have decided to ditch cash payments because they pose a threat to workers.

Jones & Company Wine Merchants at 1616 St. Mary’s Rd. says that as of Friday “for the safety and security of our staff, we will be moving to card transactions” and cash will no longer be accepted.

While owner Tina Jones and general manager Mike Muirhead could not be reached for comment, the local branch of the Canadian Federation of Independent Business said the use of cash in retail outlets does come with a risk in today’s increasingly violent society.

“With all of the crime and safety concerns we are hearing about throughout the city, it’s no surprise that business owners want to be able to say they have no cash on the property to protect themselves, their employees and their customers,” said spokeswoman Brianna Solberg.

The switch to debit and credit card-only payment comes at a price.

“It isn’t necessarily free for businesses to take cashless payments,” she said. “Credit-card transaction fees can be quite significant… so we see some small businesses actually opting out of accepting credit cards especially on smaller purchases (when) they will take cash or debit only to avoid paying these transaction fees.”

George Andrews, owner of GJ Andrews on Academy Road, said he won’t follow the lead of Jones & Company.

While crime has affected his business, he said thieves don’t steal wine in the same brazen and frequent way they stole expensive bottles of booze from government-run Liquor Marts before security was bolstered at outlet entrances a few years ago.

“We’re not even considering going cashless, even though 95 per cent of our transactions are electronic,” he said. “As long as people use cash, we will accept it.

“Besides, no one is going to steal a $10 bottle of wine to sell it for $2. They’re looking for higher-end products. They are going for scotch or rye.”

A Manitoba Liquor and Lotteries spokesperson said Liquor Marts continue to accept cash.

The co-owner of two Cinnaholic bakery outlets in Winnipeg, who said they eliminated cash payments at the shop on McPhillips Street as of last May because of repeated incidents of crime, said it has been a positive change.

“Robberies have gone down to zero and our business is about the same,” said Menchie Finlay, who operates the business, which also has an outlet on Kenaston Boulevard, with her husband.

“There really have been no incidents and it has been almost eight months now. Our sales haven’t been affected at all from what we see.

They have no intention of going back.

“I feel safer there without any cash,” she said.

Finlay said the Kenaston outlet still accepts both plastic and cash because “we have had no problems there.”

Solberg said other business owners might go cash-free even when security isn’t a concern.

“If the share of customers that come in wanting to use cash dips below, say eight to 10 per cent, I think it is reasonable for a business owner to consider going cashless,” she said.

Ultimately, deciding whether to stop accepting cash altogether is something that each individual business will need to weigh the pros and cons of.”

kevin.rollason@freepress.mb.ca