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Monday, April 22, 2019

Philadelphia Is the First Major City to Ban Cashless Stores

Philadelphia Is the First Major City to Ban Cashless Stores
Source: www.wsj.com

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Philadelphia passed a law that requires establishments to accept cash starting in July. This move from lawmakers comes in order to be inclusive towards low-income shoppers. 

The Cashless Trend

Many stores have moved towards going cashless, due to the fact that it makes transactions more hassle-free. These stores, such as Sweetgreen, only accept credit card or apps like Apple Pay and Google Pay.

The lack of cash allows for faster purchases and less crime taking place within stores. However, it appears that not everyone is ready to board the cash-free train. 

The New Law

On July 1, 2019, the law goes into effect. The law will not apply to certain establishments, such as parking garages and wholesale clubs, such as Costco.

Mayor Jim Kinney signed the bill in March, citing low-income shoppers as the reason why. He noted that many citizens do not have checking or savings accounts to draw from.

Some citizens, such as councilman William Greenlee, say that cashless stores are a form of discrimination.

Backlash for the Bill

Amazon had plans to open an Amazon Go, cashierless store, in Philadelphia. City officials have said that Amazon let it be known that this bill would impede their store.

A top official from the city's Commerce Department also declared that modernization is the future, and would happen with or without Philadelphia anyway.

It does not seem like this backlash has changed any minds though, and we can look forward to seeing the effects, if any, this summer.

 

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Posted By Isabella Guevara at 09:00 AM
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