Sunday, February 7, 2016

How to deal with inflation or Solve one problem but cause a few more.

Sign at Dollarama, Vancouver, BC (Photo taken February 3, 2016)

Price are going up. The decline in the value of of the Canadian dollar is forcing retailers to increase the prices fr all of the goods that they import. And as prices go up, the value of the average transaction is also rising. For a business that previously only accepted cash and Interac, rising prices run headlong into consumer cash flow problems.

And the remedy for consumers who don't have enough cash, either on hand or in their bank accounts, credit cards can the the answer.

Of course with credit cards come all of the attendant fraud and abuse. But is someone really going to use a stolen credit card at Dollarama? There are lots of other places that sell goods that are much more attractive.

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