Who's getting on the Cashless Ban'd Wagon?
This month's WCW Pro-Cash Newsletter featured article is from the ATMIA U.S. Spotlight.
Efforts to ban retail establishments from refusing cash payments are gaining momentum everywhere – at the city, state, and federal levels. The stated motivation in all of these instances is that a cashless environment discriminates against the poor and the unbanked. The issue, however, is much larger than that. Cashless retail severely limits consumer payment choice and eliminates the favored payment method for 26% of the population (Fed numbers).
Even those considering a cashless environment should take a moment to consider factors outside of payment choice. In times of crisis – regardless of the cause – cash is often the only option. Daily life, too, has its wrinkles – payment networks crash and power systems fail.
ATMIA USA is supporting all efforts to prohibit cashless retail businesses. You will find an interactive map on the ATMIA website that displays current proposals and newly enacted law. Simply click on a state to display information about proposed legislation and/or a list of specific cities that have proposed new ordinances.