Following the modern trend, many sellers now are starting to accept payments with cards and smartphones only. That means a total refusing of cash. But not everyone believes such innovations to be something positive.
Digital payments seem convenient for both buyers and sellers. However, there is also a downside.
First of all, there is a huge section of the population that do not have access to debit or credit card accounts. Not only immigrants, homeless and low-income people, but young people and victims of ID theft are concerned. To be honest, each of us may turn out to stay with no ability to use cards in a certain moment.
On the other part, it may be your own choice. Some people just want to keep out of digital payments. They want the information about their purchases, trips and other things they pay for to be private. And that’s their right.
Anyway, whatever the reason is, it seems quite unfair and even discriminative that someone is not able to buy the bare essentials just because they have only cash in their wallet. Why this kind of money should be no longer valid?
Several cities have already opposed to the retailers’ initiative to reject cash. It all started with Philadelphia this February. The city became the first in the country to block cashless businesses, restaurants, and retail shops functioning if they do not take cash. New Jersey imposed a boycott and adopted the bill less than a month later.
On May 7, San Francisco joined the ban of cashless retailers. The Board of Supervisors had a vote as a result of which the legislation was unanimously passed. It obliges brick-and-mortar businesses to accept cash from customers.
At the moment, a similar draft law has been introduced in New York City. It is quite possible that a wave of indignation will soon cover the whole country.
Read Also Related News
Tis the season to spend money we may not have on things we may not need. As the winter holidays approach, many kids are preparing their letters to the North Pole and dreaming of the presents they hope will be under the tree on Christmas...
Rotating rewards credit cards are popular with consumers because every quarter, they offer bonus cash back in a different set of spending categories. Usually, this means extra rewards when spending on gas, at department stores, or when...
If you and your partner find yourself at odds over finances, join the club. Money is the number one thing couples fight about according to therapists and relationship experts. But just because it’s common, doesn’t mean it can’t be...
I need a credit card with a 0% APR to consolidate several of my credit cards into one payment. Please advise what card I can apply.
There are special credit cards that allow consolidation of other cards’ debts - the balance transfer credit cards. These cards usually come with a 0% intro APR on balance transfer offer. The zero introductory period varies, but as a rule it is between six months and two years. So you can find a credit card with...
The easiest way to find out if you have credit accounts under your name is to request a copy of all your three credit reports: Experian, Equifax, and TransUnion. The reports contain information about active credit accounts, its issuers, and the information about credit accounts balances. If you want to protect yourself...
To set a PIN on your credit card, you should call the credit card issuer at the number on the back of your credit card and request your PIN. After that, the issuer will mail to you your PIN. In the meantime, if you need cash, you can go to a bank office and present your credit card and picture ID.
The overall process of getting a credit card can take up to 30 business days. To know the status of your credit card applications you should contact the credit card issuer. A quick online search for the bank or credit card issuer's name should turn up a customer service phone number or email address. Banks and credit card...