Stores to customers: "Cash not welcome here"

[shadowrider]

http://www.cbsnews.com/news/stores-to-customers-cash-not-welcome-here/

To get a glimpse of the future of commerce in America, look no further than Sweden.

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.

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For a period of eight years in the 90's, due to extremely poor credit (self-inflicted), I had no credit card. If companies here start using a "cashless" basis for their transactions, what happens to the people who don't have a credit card? Where are they supposed to go?

[guillaumeb]

1. Only the top 1% really count.

They have all the money.

Recommended. Excellent observations.

[get the red out]

2. This is concerning

Another thing that could make it hard on people who have it hard already.

[WheelWalker]

3. The Banking Cartel

[PJMcK]

4. Debit cards

Also pre-paid "credit" cards as well as "gift" cards.

In his book "Future Shock," Alvin Toffler projected that we would move to a cashless society and that commercial transactions would not require physical money.

As an aside, I had forgotten Mr. Toffler's name and used Google to remind me. I was saddened to see that he died at the end of this past June. His book, published in 1970, is a terrific polemic about the future and although it's slightly dated, I recommend it highly.

[FrodosPet]

5. People without plastic money and smartphones are useless eaters

They need to either get with the program or become dependents to people who have those things.

[bluestateguy]

6. There are some germaphobes that push very hard for cashless stores

It's starting to happen on college campuses.

[FrodosPet]

8. The poor germaphobes

Living in a sterile environment is UNhealthy for most people.

[shadowrider]

17. My daughter

won't use anti-bacterial soap on her kids for that reason. If you keep killing the germs, no resistance is built up to them. An immune system with no resistance isn't a good thing.

[2naSalit]

7. For the most part

I have no use for whatever they are selling so I won't be too worried. I do have a debit card because my job only pays by direct deposit, and I hate it. Just like the USPS, I will continue to live in places where such things are still vital to the community.

[FrodosPet]

9. Simple retail transactions

[Skittles]

14. aw I loved Mitch

one of a kind

[GeorgeGist]

10. You'll have to pay a fee to buy a debit card.

[Curmudgeoness]

11. In Sweden, I would bet that the poor don't have to worry

about all the hurdles that we have in this country...or they would not allow this.

I pay with cash almost all the time, and I would just not shop at a store that wouldn't accept it. I am sure that they are too snooty for me anyways. Heck, Aldi only recently started to accept debit and credit cards...used to be only cash.

[dembotoz]

12. Would have to find a different store

[Skittles]

13. same here

fuck that

[w0nderer]

15. In Sweden you'd have to find a different bank too most likely

Most Swedish banks don't handle cash anymore aside from a third party ATM in the outside wall.
so no 'tech support' for the atm, and no instant refills in case it's been emptied


Just to mess with the poor, the banks have fees on debit cards in the range of $30+ yearly with no waivers (none of the 'maintain balance' or 'have loan here' or 'accept direct deposit here' or 'pay bills online with us'....speaking of, internet banking is also an extra fee for a lot of the services)

Sweden has taken what is bad in the US bank system(no interest on debit accounts, fees on merchants, fees on bank accounts), and what was bad in the Swedish system(no waivers on fees, fees on debit cards, no cash), and combined it to make a fantastically bad system that only benefits themselves

no interest
fee on merchant
fee on bank account
fee on debit card
no waivers
no cash

no cash handling except for large offices (as in a couple of hour drive sometimes) for companies either ...so keeping a register/cashbox stocked is difficult

force no cash, debit only...then charge for debit
win win and win for the bank

[FrodosPet]

16. Unpossible

Everyone here knows that Sweden is the most wonderful country in the world. They are democratically socialist, which means everybody is exactly equal.

It must be a mistranslation.

[w0nderer]

18. hmmm let's see

Jag talar läser och skriver flytande Svenska, likväl som Engelska. Jag åker också hem och hälsar på årligen.

I speak, read and write fluent Swedish, as well as English. I also go home(Sweden) and visit yearly.

I doubt my translation is that 'missed'. I also doubt my my observational skills are that bad.

Sweden does a lot right, or more so even DID do a lot right.