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Article: Just cash money: why a diehard band of L.A. merchants refuses to join the credit card crowd.
- Article from:
- Los Angeles Business Journal
- Article date:
- April 13, 1998
- Author:
CopyrightCOPYRIGHT 1998 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When patrons at Philippe The Original Restaurant in downtown Los Angeles try to pay for their meals with a credit card. General Manager Richard Binder sends them down the street to an automated teller machine.
"Our regular customers know they have to have cash," said Binder.
Philippe, one of L.A.'s oldest eateries, does not plan to change its no-credit policy anytime soon - despite the fact that Binder has noticed more customer requests to charge meals than ever before.
He isn't alone. As cash dollars go the way of gold doubloons, there is intense pressure on merchants to accept credit cards. Most already have succumbed, but there remains a handful of ...