The decision whether or not to use cash payments in your business comes mostly down to need. Do you need to deal in cash? Taking into consideration all the risks there are, it’s always down to “need” and not “choice”. 

For an example, if you’re in the business of having small kiosks or outskirt selling points, chances are that also accepting cash payments lets you have more customers. Contrary to that, it may be that you’re unable to have bank debit or credit card payments in these locations (due to whatever infrastructural or technical obstacles) meaning that you’re pretty much forced into dealing with cash.

On some other occasions it may be that allowing cash payments means you’re getting more customers, however, only accepting cash means you may loose customers, because nowadays most of us are expecting to be able to pay with our bank debit or credit cards.

It’s a fine balance here and there, but don’t forget that more options and alternative payment methods means more customers. Yes, inherently it’s more hassle to you as you have to keep it all up and running, plus deal with accounting for it, but the question is at the end of the day if it’s really worth it. Do you need it?