Customers who want to pay in cash are facing more rejection as a growing number of businesses are pushing for cashless transactions. They claim speed, efficiency and safety of employees (from robberies) is validation for their rejection of cash, basically telling customers "your cash is not wanted here".
Corporate capitalism might want to push for a cashless society that they have greater control over, but governments aren't too in a rush despite the same benefits and control they could exercise. Some countries and U.S. states have banned the rejection of cash in efforts to preserve the rights of customers to transact with businesses in the accepted currency of the nation.
According to a Wall Street Journal, a survey puts cash at 30% of all transactions in America, and 55% of them for transactions under $10. Cash is still going strong despite the convenience for plastic for purchases. To alienate such a large preference for payment and forcing people to use electronic payment methods may work against companies. Maybe they don't know, or they don't care and expect most people to cave-in in order to keep being able to buy what they want.
The Preliminary Findings from the 2016 Diary of Consumer Payment Choice done by Federal Reserve Bank of San Francisco concluded:
Not only is cash used frequently for small value and in-person purchases, it is also used by a wide array of consumers. The data on cash use by household income provides two main insights. First, consumers make—on average—14 cash transactions per month, regardless of household income. It is also noteworthy that cash was the most, or second most, used payment instrument regardless of household income, indicating that its value to consumers as a payment instrument was not limited to lower income households that may be less likely to have access to an account at a financial institution.
Companies are going to be alienating all segments of society, rich and poor alike. Some customers end up having to be "bailed-out" by other customers who are willing to act as bankers to pay for meals or other products and services for people who get stuck being cut off from being able to pay in cash.
People who just want to order a salad are getting refused when all they have is $20 to pay with. Rejected customers are seeing this as elitist, and rightly so. ANd tehy don't go back to businesses that exclude them:
Jaclyn Benton, 30, visited a Sweetgreen near her office in Reston, Va., last summer with $20 cash, but no credit or debit card because she had forgotten her wallet at home. When her order was ready and she went to pay, the cashier explained that the restaurant doesn’t take bills.
“It’s almost like when your credit card gets declined for silly reasons,” says Ms. Benton, who works as an event planner. “It makes you feel like you can’t afford it even though I had the money right there.”
Ms. Benton has no plans to go back: “It feels very elitist,” she says.
A Sweetgreen spokeswoman said its decision makes its team members safer amid the risk of robbery and improves the cleanliness and efficiency of the restaurants.
Even when food comes from local farmers, your local cash get rejected, and they businesses rejects you as a customer. It makes people feel humiliated.
There is no federal law requiring businesses to accept cash. But prior to the modern age, there was no need for it, as cash was all there was. There was no question that cash was accepted. Local lawmakers are beginning to see the problem and taking steps to prevent retailers and restaurants from refusing cash. New York City Councilman Ritchie Torres of the Bronx said:
"I refuse to patronize businesses that reject cash payments, even though I primarily use debit or credit."
People who want to keep transactions private, and those who are more strapped for money will tend to have cash as well. Younger people also use cash from parents to go buy small items. Will we get to keep a strong cash influence in society, or will those who want greater centralized control and surveillance of purchases win out at some point in the future? China seems to be getting it's way as private transaction are being abolished.
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