Monday, February 03, 2020

New York city bans cashless stores

New York city crafted legislation in January 2020 that would prohibit restaurants and retail outlets from going cashless.Food establishments would be forced to accept cash as payment under this law.
                                We must balance technological progress with equity.Cash is a universal currency.
                                   A broader trend has unfolded in the U.S. recently.San Francisco and Philadelphia also adopted bans on cashless stores and restaurants recently.The cashless marketplace and the cashless business model are being increasingly banned for brick-and-mortar businesses.
                                    Many businesses and retail stores want to go cashless.But several people are fighting back against this.
                                       There are many reasons to ban the cashless business model.Senior citizens often prefer cash.Many poor people in the U.S. have no creditworthiness and cannot pay by card.Many people are unbanked or underbanked;the unbanked have no credit cards or debit cards and can only pay by cash.(Those who are underbanked live in areas where there are few to no banks).
                                       Many other people also want to pay in cash because they are protective of their privacy.We live in an age of Big Tech and mass surveillance and identity theft;some people also prefer to pay in cash because they are afraid of identity theft.
                                           The fact is that many people still insist on using cash.Other American cities and Canadian cities should pass legislation too to ban cashless brick-and-mortar restaurants and retail outlets.

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