Monday, January 27, 2020

New York City bans cashless stores

Retail Dive
New York City is the largest U.S. city to have approved a ban on cashless stores. Similar bans passed in Philadelphia, New Jersey and San Francisco in 2019. Chicago and Washington, D.C. are mulling similar policies as well. These bans are costly too, with fines up to $2,000 for each violation in Philadelphia. New Jersey's ban could cost $2,500 for the first offense and $5,000 afterward.

Much of the argument against cashless stores has been that it excludes those that are unbanked or underbanked, which is when someone has a bank account but uses other services to cash checks. . . . more