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The cashless thing was having some resistance, but COVID 19 might just cure that
Posted By: AndiV Date: Saturday, 9-Jan-2021 07:27:40
www.rumormill.news/142775
Cashless stores were getting some backlash from consumers because in retail cash still represents 30% of all retail store transactions and 55% of transactions under $10.
Maybe they needed a virus to get their cashless society in place, among other things.
Article from a retail blog https://www.cashdrawer.com/blog/2019/03/20/backlash-against-cashless-stores-grows/
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In this digital age, cash still represents 30% of all retail store transactions and 55% of transactions under $10. Cash also accounts for almost half (41%) of fast food purchases and a third of transactions (33%) at convenience stores. As mobile wallets and other cash alternatives are introduced, the trend raises the very real question of whether cash needs legislative protection. In a growing number of municipalities and States, the answer is yes.
Restaurant bill with dollar bills and receipt
In March, Philadelphia became the first major U.S. municipality to ban cashless stores. New Jersey followed shortly thereafter. Currently, there are proposals to ban cashless businesses in New York City and Washington, D.C. The movement is expected to grow in other jurisdictions, especially now the ATM Industry Association (ATMIA) has decided to back the proposed bans. In the Commonwealth of Massachusetts, it’s been illegal for businesses to refuse to accept cash since 1978.
The backlash against cashless policies is fueled by several factors, primarily the concern over discrimination against unbanked and under-banked people. Other factors include concerns over the security of electronic payments and credit card fees assessed to merchants, which get passed on to consumers through the price of goods.
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RMN is an RA production.
Articles In This Thread
- The cashless thing was having some resistance, but COVID 19 might just cure that
AndiV -- Saturday, 9-Jan-2021 07:27:40
- Study: Credit cards carry more types of bacteria than coins, cash
CrystalRiver -- Saturday, 9-Jan-2021 07:27:40
- they'll just chip us *NM*
AndiV -- Saturday, 9-Jan-2021 07:27:40
- Hate to Say It, But Had The Same Thought! *NM*
CrystalRiver -- Saturday, 9-Jan-2021 07:27:41
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