Bill Maurer

Retailers will likely round up to the nearest nickel on cash transactions, meaning people could lose up to 4 cents, and that adds up quickly, especially for poor people who don't have credit cards. We've already seen this in Canada and Australia, says UC Irvine School of Social Sciences Dean Bill Maurer. … “if you're paying with a debit card or a credit card, they'll charge you the exact total, but if you're paying in cash or coin, they're going to round up to the nearest 5 cents. So, if you don't have a debit or credit card, which is surprisingly, a large number of people in this country, you're going to get dinged with that extra charge,” says Maurer.

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