Rays going cashless.

BattleBorn

50% to winning as many division titles as Toronto
Feb 6, 2015
12,069
6,017
Bellevue, WA
I think we're getting a little overly conceptual with this. The arguments for why credit/debit isn't money were all pretty much had decades ago.

It's a reasonable business decision to make because it will likely increase their average dollars per customer while also eliminating the need for cash supervision and end of night drawer reconciliation. They save money on staffing, eliminate the majority of potential theft, eliminate the vast majority of counterfeit note risk, and also likely increase spend per customer.

It's an inconvenience for some customers that is likely trivial even when people without cards/accounts are considered and compared to the advantages for the business.
 

Tawnos

A guy with a bass
Sep 10, 2004
28,820
10,397
Charlotte, NC
Which makes sense when you remember that while cash is actually money, bank deposits are only promises to pay money. Even if you use them like money bank balances are really just IOU's. There are lots of potential legal consequences to this.

Even if this were not the case, there is another good reason to ban such policies. It's well established that people manage their money better when they use cash. "Cashless" can therefor be seen as subtile way to get people to spend more money and/or make worse financial decisions.

Cash is an IOU issued by a bank as well.
 

BattleBorn

50% to winning as many division titles as Toronto
Feb 6, 2015
12,069
6,017
Bellevue, WA
kinda sums up America in 2019
good for businesses & bad for a large group of the public?
do it! sorry poor people-business!
We're discussing this on the Business of Hockey board, but even if we weren't I'd figure that if someone's operating without a bank account or credit card in 2019 this isn't the first inconvenience they've experienced due to that. I also think characterizing adults in North America without an electronic means of payment in 2019 as a "large group of the public" is a little disingenuous.
 

BattleBorn

50% to winning as many division titles as Toronto
Feb 6, 2015
12,069
6,017
Bellevue, WA
32 million out of 327 million? That's ~10% of un/under-banked.

Not a majority, but not an insignificant #.
Banks aren't the only way to get tools to make electronic payments. Most grocery stores will sell you Visa/Amex gift cards for cash and, as the story says, the Rays will have roaming people selling cards for people that don't have another card or choose not to use the cards they have.

I mean, the internet is cash-free. A Tampa Bay Rays game isn't going to be the first time someone without a card is going to experience hassle and there's plenty of opportunities to get an electronic method of payment.

It's not like someone's saying they have to pay rent or utilities via electronic payment, it's beer and hot dogs at a baseball game.
 

Kane One

Moderator
Feb 6, 2010
43,103
10,625
Brooklyn, New NY
Isn’t cash rarely used in Sweden? I read some people are even getting credit card chips implanted into their hands.

I don’t know about credit card rewards in other countries, but in the US, you are throwing free money down the drain by not using credit cards. It’s also less of a hassle then having to go to an ATM every other week.

It wouldn’t impact me in the slightest if cash is banned everywhere.
 

BattleBorn

50% to winning as many division titles as Toronto
Feb 6, 2015
12,069
6,017
Bellevue, WA
Isn’t cash rarely used in Sweden? I read some people are even getting credit card chips implanted into their hands.

I don’t know about credit card rewards in other countries, but in the US, you are throwing free money down the drain by not using credit cards. It’s also less of a hassle then having to go to an ATM every other week.

It wouldn’t impact me in the slightest if cash is banned everywhere.
That whole "money down the drain" thing doesn't actually play out in most cases in reality.

In actual reality, people are morons and the benefits of credit/charge/debit cards don't actually amount to more than the interest/fees/membership fees of the cards they use.

Rarely, people get benefits from the cards they use. If they don't, the benefits to the conversion are additional profit for the provider, which is why this whole idea is accepted in reality. The money the banks save from cash management savings are not only rewarded, but are doubly rewarded with the commercial data they glean from the transactions they'd have never had without electronic transactions.

Just know what you're working with. Buying stuff with cards not only makes life easier for you, it also makes it easier for your bank and also allows them to develop a dossier on you, your spending habits, your wants, your needs, your everything.

It's not just about money, it's about you.

As someone smarter than me once said: "if something is free, it's not the free thing that's the product, you are the product."

Card benefits are a relic from a time when people had to be convinced to use electronic means. They'll soon disappear. The result will be a more efficient banking system with an additional product to sell, which is your consumer profile that didn't exist while you were paying cash for everything,
 

TOGuy14

Registered User
Dec 30, 2010
12,061
3,571
Toronto
Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal reserve notes and circulating notes of Federal reserve banks and national banks] are legal tender for all debts, public charges, taxes, and dues."


This statute means that all United States money as identified above is a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law which says otherwise.

Source: www.federalreserve.gov/faqs/currency_12772.htm

To simplify I believe the law is that companies do not have to accept cash for payments but cash is a valid method to pay back any debt or loan
 

JMROWE

Registered User
Apr 2, 2010
1,372
52
Hamilton Ontario
The Tampa Bay Rays are finished in central Florida time to move on to place like Montreal where the owner of the Rays can get a brand new stadium for cheap & where fans will actually show up for games .

I know some people here say the Expos move to Washington for the exact same thing but that is not the case reason the Expos moved where because of bad ownership , bad management & the stadium was just as bad as Tropicana Field that is why they moved & MLB knows that & that is why MLB believes Montreal deserves another chance because with good ownership , management & new ball park baseball can be success in Montreal .
 

BattleBorn

50% to winning as many division titles as Toronto
Feb 6, 2015
12,069
6,017
Bellevue, WA
The Tampa Bay Rays are finished in central Florida time to move on to place like Montreal where the owner of the Rays can get a brand new stadium for cheap & where fans will actually show up for games .

I know some people here say the Expos move to Washington for the exact same thing but that is not the case reason the Expos moved where because of bad ownership , bad management & the stadium was just as bad as Tropicana Field that is why they moved & MLB knows that & that is why MLB believes Montreal deserves another chance because with good ownership , management & new ball park baseball can be success in Montreal .
That's the same Montreal that exceeded the average annual NL attendance five (5) times in 33 years, not including the Puerto Rico thing, right? The one that never averaged more than 29,000 attendees during their heyday in a stadium that was eventually reduced in the 90s to fit 45,000?

Montreal may get a return of the Expos, but let's not pretend the Expos were unjustly removed from the market. We can repeat Loria's name as much as we want, but the Expos were never one of the business success stories of the MLB even while they were a great team.
 

LadyStanley

Registered User
Sep 22, 2004
105,742
18,870
Sin City
Saw that Amazon is going to start accepting cash at one of their pop up stores.

Also, Philadelphia considering legislation to require acceptance of cash in local businesses.
 

Cyclones Rock

Registered User
Jun 12, 2008
10,484
6,370
Next time I go to a Rays game, I'm going to buy a scalped ticket with cash and sneak some food into the game. I'll go cashless in The Trop just like they want me to.
 

WingsFan95

Registered User
Mar 22, 2008
3,492
259
Kanata
This policy would largely be for eliminating staff and as said:

Sounds like a risk they are willing to tolerate.

A few Casheless benefits:
1. People tend to spend more when casheless
2. Shorter transaction times
3. More customer data to mine
4. Reduce fraud - employees stealing.

I know first hand how at least 5% of cash at concessions gets pocketed. Yes even with all the cameras you'd be surprised. There must have been thorough research and the margins had to be justified in eliminating cash transactions. I am near certain this will mean automated delivery system will be put in place soon and effectively the stadium staff cut drastically.

While I never carry cash, I know people who only pay cash.

If you are a business, you should have to accept cash. Should be the law.

I'll write in support of this simply because cash is government issue so while a business is private and should have a lot of freedom in how they deal with sales, it's mostly about service and pricing. Not accepting a government issued form of payment can absolutely be brought up as a form of discrimination since credit cards typically require a decent credit to obtain (all jokes aside on low tier cards) and certain field of employment. A lot of people who do contract work may only use cash because they don't have the credit rating or because they want to purchase items for far less than retail and save up said cash. You can still pay most bills through your bank.
 
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BKIslandersFan

F*** off
Sep 29, 2017
11,447
5,060
Brooklyn
This policy would largely be for eliminating staff and as said:



I know first hand how at least 5% of cash at concessions gets pocketed. Yes even with all the cameras you'd be surprised. There must have been thorough research and the margins had to be justified in eliminating cash transactions. I am near certain this will mean automated delivery system will be put in place soon and effectively the stadium staff cut drastically.



I'll write in support of this simply because cash is government issue so while a business is private and should have a lot of freedom in how they deal with sales, it's mostly about service and pricing. Not accepting a government issued form of payment can absolutely be brought up as a form of discrimination since credit cards typically require a decent credit to obtain (all jokes aside on low tier cards) and certain field of employment. A lot of people who do contract work may only use cash because they don't have the credit rating or because they want to purchase items for far less than retail and save up said cash. You can still pay most bills through your bank.
You can still use debit...
 

Centrum Hockey

Registered User
Aug 2, 2018
2,089
727
The Tampa Bay Rays are finished in central Florida time to move on to place like Montreal where the owner of the Rays can get a brand new stadium for cheap & where fans will actually show up for games .

I know some people here say the Expos move to Washington for the exact same thing but that is not the case reason the Expos moved where because of bad ownership , bad management & the stadium was just as bad as Tropicana Field that is why they moved & MLB knows that & that is why MLB believes Montreal deserves another chance because with good ownership , management & new ball park baseball can be success in Montreal .
MLB should try to get Jeter out of Miami and have the Rays or Whitesox go to marlins park
 

Hooby Dooby Doo

Registered User
Jun 6, 2018
193
159
I'm heading to two games in july. I wonder what the reaction will be when my dad whips out a 20 to buy a beer
 

LadyStanley

Registered User
Sep 22, 2004
105,742
18,870
Sin City
Bank of America CEO: 'We want a cashless society'
Bank of America CEO Brian Moynihan said his firm has “more to gain than anybody” from the booming trend of non-cash transactions.

Noncash transactions are forecast to grow by a compounded annualized growth rate of 12.7% through 2021, according to a 2018 study produced by BNP Paribas and Capgemini. Those vast volumes put financial intermediaries in a prime position to benefit from processing those transactions.

Trending
 

BigBadBruins7708

Registered User
Dec 11, 2017
13,579
18,347
Las Vegas
Bank of America CEO: 'We want a cashless society'
Bank of America CEO Brian Moynihan said his firm has “more to gain than anybody” from the booming trend of non-cash transactions.



Trending

greed under the guise of "convenience"

long story short, banks dont make a dime on cash transactions...but if they can force everything to be electronic they can skim 1-3% off every transaction as a "service fee" and make even more money
 
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