Going Cashless is Not the Future

As the number of Americans who use cash declines, businesses that refuse to accept cash are increasing. A good thing right? Not so fast.

As the number of Americans who use cash declines, businesses that refuse to accept cash are increasing. A good thing right? Not so fast (sorry).

Photo by Jp Valery on Unsplash

If you are used to carrying cash around town, cashless establishments may be inconvenient. But for the newly affluent individuals who live in previously stagnant urban cores, cashless businesses make for a convenient and seamless experience.

Though the number of cashless businesses are still rare overall, their owners, like Amazon Go and Sweetgreen , argue that a cashless economy is the future and people need to get on board. Going cashless, they say, also discourages illicit activities such as money laundering, human trafficking and tax evasion.

There are also other practical reasons to eliminate cash, including:

• Safety. Because cash can be easily stolen, a cashless environment is a safer working environment.

• A cashless business is easier to run, especially from a record-keeping perspective.

• Businesses that carry cash…