Cashless Businesses


As fewer customers use cash, some stores have moved away from accepting cash payments. Some stores have said that handling cash is burdensome or unsafe. Others have argued that cashless stores discriminate against certain populations, such as people with low incomes, who are more likely to be unbanked or underbanked. In response, some cities have required all businesses to accept cash. 

Cashless businesses can still serve cash-preferred customers through a cash conversion kiosk, also known as a reverse ATM. This allows customers to deposit cash and convert it to an electronic payment instrument, such as a prepaid card. It can be helpful to cash-preferred customers, but only if it does not charge them a fee. 



Payment Choice

Merchants should offer their customers a choice of payment methods to ensure that their products and services are widely available. Merchants that do not accept cash as a form of payment should be required to offer alternatives that enable cash-preferred customers to pay at no additional cost, especially for essential goods and services.