Stores to customers: ‘Cash not welcome here’
Sweden is fast becoming a cashless society, and that’s likely to become the way of the world.
Click here for reuse options!The Scandinavian country is largely a cashless society, with consumers relying on mobile phone payments or plastic. While the U.S. is still far from achieving the same level of cash-free existence, increasing numbers of restaurants and retailers are now snubbing the lowly dollar bill.
Some merchants such as SweetGreen, a salad chain, refuse to open their registers for cash, telling customers they can pay only with mobile payments or cards. With some newer vending machines, only a card or mobile wallet will get that cold Coca-Cola to roll down the chute.
The stance may appear un-American — after all, currency is considered legal tender for all debts or dues — but the Treasury permits private businesses to set their own policies, which means going cashless is fine with Uncle Sam.
“What we’ve seen is a push toward electric payments because of convenience, especially for Generations X and Y and onward,” said Greg Burch, vice president of strategic initiatives as Ingenico Group, which makes payment systems for merchants. “The phone has become more personal than the wallet has.”
Copyright 2016 Liberaland
12 responses to Stores to customers: ‘Cash not welcome here’
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TiredOldGuy August 13th, 2016 at 10:26
A couple of little “hole in the wall” restaurants (great food) and mom & pop stores around here are cash only. It will cost them to convert to plastic raising the prices.
MrBoots August 14th, 2016 at 09:27
3.5%. they can afford that, we can afford that hike, and they’ll have to pay their fair share of taxes rather than paying the guys in the back off the books.
robert August 13th, 2016 at 11:57
I can remember in hs where an economics teacher was telling us we would be on the metric system before the year 2000 .
Mike August 13th, 2016 at 13:08
We’re not Sweden…we have very large poor and minority populations who can’t afford phones or qualify for plastic. Heck I didn’t realize how hard it was for a young person to open a checking account in this day and age til I spoke with a couple students trying to help them out. Here in FL they can be denied for a low credit score simply because they don’t have any credit history…it’s kinda crazy.
RandyBastard August 13th, 2016 at 14:05
Wow, that’s horrible. I hate to say banks are evil, but sometimes it’s hard not to.
Send those kids to a credit union. They always treat people better than banks do.
Mike August 13th, 2016 at 15:10
You have to qualify to be a member of a CU…I’m a member through the NEA. Not sure how students or young kids getting started would get in.
Banks are kinda evil lately…they dictate by unforgiving regulations and penalty’s enacted by CEO’s who rail against being regulated themselves…
RandyBastard August 13th, 2016 at 16:15
The rules for membership were loosened several years ago. They are now allowed to take on members the same way banks can sign up a new customer.
Mike August 13th, 2016 at 18:53
Thx, just learned something that might help someone else…
MyDogsAreSmarterThanYou August 13th, 2016 at 14:33
Since when has the system ever given a crap about poor and minorities?
Mike August 13th, 2016 at 15:04
Since it became routine exploiting money from them…that’s basically how the system works in America…
oldfart August 13th, 2016 at 13:27
The likelyhood of this country ever getting to the status of a country like sweden
is IMO highly unlikely, so… la-de-da…
MrBoots August 14th, 2016 at 09:25
The underground cash economy is raising taxes for all of us with totally reported income. How many folks are regularly told, “Pay me with cash, and I won’t charge you the tax,” or, “Pay with cash and I’ll give you __% discount” by a lawn service, contractor, home improvement company, DJ, plumber, electrician, etc.? The independent small businesses that do this rarely report all their cash deals. Therefore they underpay on their income taxes, and the rest of us have to make up the difference. Did you ever wonder why the landscape maintenance guy down the street is driving a Cadillac while you’re driving a Kia?
Many of these people need the cash to pay illegal labor off the books. Would illegal labor be as prevalent if the business owner has to account for all electronic income?
There is also the crime angle. No cash would put many drug dealers out of business, or at least severely limit their payment options because accepting electronic payment would make them accountable for every cent. Small business hold-ups would become less common when there are no cash drawers with untraceable cash. The resistance would come from those participating in the underground cash economy.
I’m certain that many folks will poke holes in this point of view, but it merits thought. The underground cash economy is unfair to those of us who obey the law, and allows many to avoid paying their fair share.