This past weekend I was in New York City and was surprised that two shops we visited did not accept CASH! Usually, I hear retailers say they don’t accept credit cards as they don’t want to pay the fees to accept them. When I visited an ice cream shop on Friday night and the person behind the register said “Sorry, we don’t accept CASH,” my jaw dropped. When I thought through the process for a while it made more sense. If a store does not accept cash, they don’t have to worry about A) Being robbed as they have no cash. B) Having employees stick cash sales in their pocket without ringing it through the cash register. This all points to how fast the business world is changing toward a cashless society. Ironically with all the new disruptive technology, I think that in the next 3 years we will move from credit cards to the next form of electronic payment that is blockchain or cryptocurrency based.
Keith N. Larsen - Lincoln NE
13 Jun
Using cash to travel may soon be obsolete – by Steve Glenn
Posted 2018/06/13 by Keith Larsen Blog Site Collections in Commentary, Learning New Things, Travels. Leave a Comment
This past weekend I was in New York City and was surprised that two shops we visited did not accept CASH! Usually, I hear retailers say they don’t accept credit cards as they don’t want to pay the fees to accept them. When I visited an ice cream shop on Friday night and the person behind the register said “Sorry, we don’t accept CASH,” my jaw dropped. When I thought through the process for a while it made more sense. If a store does not accept cash, they don’t have to worry about A) Being robbed as they have no cash. B) Having employees stick cash sales in their pocket without ringing it through the cash register. This all points to how fast the business world is changing toward a cashless society. Ironically with all the new disruptive technology, I think that in the next 3 years we will move from credit cards to the next form of electronic payment that is blockchain or cryptocurrency based.
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