In the age of cashless, city mandates stores to accept cash payments

In the age of cashless, city mandates stores to accept cash payments

Siding with the critics, Philadelphia Mayor Jim Kenney signed a motion last week banning stores in the city from enacting a cashless service.

Retailers who've adopted the practice may argue that eradicating cash makes for more convenient shopping, but many believe the policy actually discriminates against those without bank accounts or credit cards. However, businesses like parking garages or lots, hotel accommodations, rental vehicle companies and Costco- that requires an online payment for membership, would be exempted from the said law due to the security for their financial charges on their customers.

As reported, if you want to start a business that only accepts crypto in the state, the chance that it will be considered as an illegal store may occur due to the law. As of a year ago, an estimated 15.6 million people in the U.S. do not have a bank account.

Speaking with the NYT, the bill's co-sponsor Bill Greenlee, City Councilman, explained, "It just seemed to me unfair that I could walk into a coffee shop right across from City Hall, and I had a credit card and could get a cup of coffee". It's a fairness issue; it creates an us-and-them kind of situation, ' he said to CBS. They accepted cash before, ' Greenlee added.

This comes as cashless stores have been on the rise. The New Jersey Legislature is set to follow suit while New York City, Washington and Chicago are all investigating similar measures. The company reportedly plans to open up to 3,000 of these stores throughout the USA over the next few years. Amazon has been expanding its cashierless stores, dubbed Amazon Go outlets, across the nation.

Other stores likely to be affected by the shift include the likes of Sweetgreen.

But after a short-lived trial period, the fast-food chain about-turned on the idea after customer backlash. If business owners violate the rules, they face up to a $2,000 fine. In Philadelphia, the question appears poised to remain in place forever.

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