{"id":42091,"date":"2018-12-30T09:04:17","date_gmt":"2018-12-30T14:04:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42091"},"modified":"2018-12-30T09:04:17","modified_gmt":"2018-12-30T14:04:17","slug":"retailers-rejecting-customers-cash-as-more-ban-paper-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42091","title":{"rendered":"Retailers Rejecting Customers’ Cash As More Ban Paper Money"},"content":{"rendered":"
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Retailers Rejecting Customers’ Cash As More Ban Paper Money<\/span><\/a><\/h3>\n<\/div>\n
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“Your cash is not wanted here”<\/em>,\u00a0<\/em>a growing number of retailers and restaurants throughout the US and UK are telling customers. But are reasons being given by companies for the new\u00a0“cashless” approach\u00a0\u2014 speed, efficiency, and the safety of store employees\u00a0\u2014\u00a0<\/em>valid enough to require something as utterly and downright unAmerican as rejecting cash?<\/p>\n

We think not, and unfortunately the trend of\u00a0“cash not welcome here” establishments is growing, to the point that lawmakers are beginning to take note and could introduce legislation barring the practice<\/strong>, as Massachusetts has done already, and as the New Jersey State House could be set to do next. According to a Federal Reserve survey\u00a0conducted in 2017 cited in\u00a0The Wall Street Journal<\/em>, cash represented 30% of all transactions in America, with\u00a055% of those being under $10<\/strong>.<\/p>\n

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via the NY Times<\/em><\/figcaption><\/figure>\n

Regardless\u00a0of Americans’ longtime preference for plastic in most transactions, many of which take place online,\u00a0research by the\u00a0Federal Reserve\u00a0found that cash is still king in terms of Americans’ daily lives and usage, and as the study concluded further, this remains true across all income levels<\/a>:<\/p>\n

Not only is cash used frequently for small value and in-person purchases, it is also used by a wide array of consumers.<\/strong> The data on cash use by household income provides two main insights. First, consumers make\u2014on average\u201414 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<\/strong>.<\/p><\/blockquote>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Retailers Rejecting Customers’ Cash As More Ban Paper Money “Your cash is not wanted here”,\u00a0a growing number of retailers and restaurants throughout the US and UK are telling customers. But are reasons being given by companies for the new\u00a0“cashless” approach\u00a0\u2014 speed, efficiency, and the safety of store employees\u00a0\u2014\u00a0valid enough to require something as utterly and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[1035,1034,17132,1100,861,4318],"class_list":["post-42091","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-cashless-society","tag-digital-money","tag-paper-money","tag-wall-street-journal","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42091"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42091\/revisions"}],"predecessor-version":[{"id":42092,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42091\/revisions\/42092"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}