What Is Quasi Cash?

By Staff WriterLast Updated Mar 29, 2020 8:38:08 PM ET
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Quasi cash is a kind of product or item that is representative of actual cash such as money orders, traveler's checks, foreign currency, lottery tickets or casino gaming chips. Quasi cash is a stored value.

A person in business will need to purchase items, such as money orders or traveler's checks, from time to time. This person will often choose to make such purchases with a credit card and this leads to quasi cash.

Businesses need to be careful that they do not obtain too much quasi cash and that they focus on their business revenue. There are five proven ways to boost revenue within a business. The first is to add complementary services to existing products. This can help a business draw in new clients and maintain existing clients. The second is to extend the geographic market area. Businesses can targetcustomers online as well as those who are slightly beyond the current geographic market area of the business. The third is to raise or lower prices. Businesses must hone their pricing structures to create the best profits. The fourth is to bundle products together so that customers making a purchase will consider purchasing the other items or products that go with their original purchased product. The fifth is to offer a rebate. Customers love rebate programs and businesses who employ them see a bump in their overall revenue.