My grand children may see cash as a relic ….
But not now….
But more and more?
People have given up their cash fro plastic ….
But?…Not so fast….
Everyone can’t or don’t want to play, the bank’s credit card game….
From a cup of coffee to a car ride, mobile devices or plastic cards are becoming the preferred, and sometimes exclusive, methods of payment in many parts of the world.
But being forced to pay that way, rather than having the option of using cash, may soon be illegal in New York City.
The City Council is set to approve legislation on Thursday that would prohibit stores, restaurants and other retail outlets from refusing to accept hard currency.
The measure puts New York at the forefront of a national movement to rein in so-called cashless businesses: New Jersey, Philadelphia and San Francisco all approved such bans last year, and several other cities are considering similar moves. Massachusetts has had a law requiring retailers to accept cash and credit since 1978.
But New York City officials have also targeted ride-sharing and meal-delivery apps, as well as facial recognition for building entries — all in an effort to blunt the impact of advancing technology on those who are unable to use it because of financial circumstances, unwilling to for philosophical reasons or vulnerable to its darker aspects.
“Consumers should have the right to choose if they want to pay in cash or not,” said Councilman Ritchie Torres, the bill’s lead sponsor. “We are reining in the excesses of the digital economy.”
Under the bill, businesses that refuse cash would be fined $1,000 for a first violation and $1,500 for each subsequent offense. Businesses with devices that convert cash to cards, like those found in many laundromats, would be exempt under certain conditions, including a provision that there be no fee for such a card….