Asia Leading the Cashless Revolution.
Byline: Willem Roper
New York City followed in the footsteps of San Francisco and Philadelphia on Thursday by voting to ban all brick-and-mortar stores from refusing cash as a form of payment. The city council passed the legislation almost unanimously, with a primary focus being to control the "excesses of the digital economy."
The ban will implement fines for any businesses, including stores and restaurants, that refuse to accept cash payments.
Those calling for the ban on cashless businesses say electronic payment systems discriminate against underprivileged and marginalized groups, such as the poor, minorities and minors, who don't necessarily have great access to banking systems and electronic systems like Apple Pay.
The bill is waiting for approval from Mayor Bill de Blasio, who...
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