This Legislation Could Force Stores to Take Your Cash

This Legislation Could Force Stores to Take Your Cash

With the global move towards cashless transactions, many lawmakers have proposed legislation requiring stores and restaurants to accept cash payments due to equitable access and cybersecurity concerns.

Key findings

“A report by the Federal Deposit Insurance Corporation in 2017 estimated that 6.5 percent of American households were ‘unbanked.’”

“Critics have raised concerns about the vulnerability of digital transaction systems to misuse by the state, private companies or hackers, not to mention power failures during natural disasters.”

Many businesses argue that the majority of their customers already do not use cash, and that going cashless facilitates quicker transactions, makes lines move faster, and frees employees of having to count, transport and lock up cash.

View PDF
Behind a hard paywall (paid accounts only)
Behind a soft paywall (limited views allowed until a paid account is required)





No items found.

See something that should be here that isn't? Have a suggestion to make?

Please let us know