From henceforth, stores and restaurants will have to accept cash in Philadelphia as the city will be banning cashless transactions. Cashless payments- including credit and debit cards have been the hot seat of debate in the country. In response to the debate and mushrooming cashless businesses in the city, Philadelphia has taken a decision to ban such transactions.
The prime reason for this is- stores, including restaurants, don’t accept cash and discriminate against groups of people. Supporters of the ban say that cash-free transactions indicate a classist business- sending a message to lower-income customers without credit cards that they aren’t welcome.
A similar statement and ordinance was introduced in Chicago two years ago vouching that cashless retail businesses discriminate against young people because credit cards have age requirements. Moreover, cashless payments spike up the privacy and security concerns among the people.
On the other hand
But the people opposing the new rule say that going cashless is the future. Going cashless has helped many retail and restaurant owners as it’s faster and employees don’t need to handle the large amounts of cash. Parties disagreeing to the new rule include the Pennsylvania Restaurant & Lodging Association, the Chamber of Commerce for Greater Philadelphia, and the National Retail Federation. Whatever the outcome, Philadelphia has hit the headlines with its new law!
Go First Airlines gets SEBI approval for Rs 3,600 Crore IPO
Leica launches its first smartphone with a 1-Inch Camera Sensor
Tencent Cloud launches its first Internet Data Center in Indonesia
MediaTek announces its first 5G modem with mmWave
Airtel announces its first public 5G ready network in India
© 2021 CIO Bulletin. All rights reserved.