What is Quasi-Cash in Retail? Explained

Quasi-cash involves financial transactions treated as if they were cash advances, even though they entail the purchase of goods or services. In the retail industry, quasi-cash transactions often include items easily convertible to cash, such as gift cards, traveler's checks, or money orders. Credit card companies and financial institutions may categorize these transactions similarly to cash advances, subjecting them to higher fees and interest rates. Retailers may accept credit cards for quasi-cash transactions, providing customers with convenient payment options, but consumers should be aware of associated fees and terms.