Rays going cashless.

Llama19

Registered User
Jan 19, 2013
7,202
1,007
Outside GZ
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
 

JelloPuddyPops

"Gotta support the team."
Oct 9, 2018
78
89
Pacific Northwest
And what happens if the system goes down? And people can't buy anything? What dumb idea.
I can tell you aren't old enough to know that businesses used to take credit cards without electronic machines for years and years (it's called carbon copies). There are ways around outages and it won't be the disaster you think it will.
 

Llama19

Registered User
Jan 19, 2013
7,202
1,007
Outside GZ
I can tell you aren't old enough to know that businesses used to take credit cards without electronic machines for years and years (it's called carbon copies). There are ways around outages and it won't be the disaster you think it will.

Used to work retail back in the day...
and it took time to insert the card...
place the carbon slip paper over the credit card...
swipe to make an imprint...
have the customer sign the slip...
fill out the slip with company required info...
separate the slip to hand the customer their copy...
put the other copy in the proper cash drawer tray...
yeah...took no time at all... :sarcasm:


th
 

LeHab

Registered User
Aug 31, 2005
15,956
6,259
And what happens if the system goes down? And people can't buy anything? What dumb idea.

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.
 

SupremeNachos

Registered User
Dec 6, 2011
3,130
792
Minnesota
I always carry around 60$ in cash just in case I need to tip or visit a shop that only accepts it. I really only use my cards for gas or online purchases (and things that cost more than 100$). The majority of people that I know that carry mainly cash are older folks.
 

Edenjung

Registered User
Jun 7, 2018
2,562
2,325
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.
Is it that common?
I only pay in cash and i doubt that more than about 1-3% of germans pay only with debit card or with their phone (that about 1%).
We love our cash, if one wants a fight, eighter establish speed limits for the whole Autobahn or take our cash. you will f***ing die before getting that money.

And while i live in the netherlands where it's more common to pay cashless, i only pay in cash.

in germany 99% of stores don't have a self-paying station.
 
  • Like
Reactions: WingsFan95

Ad

Upcoming events

Ad

Ad

-->