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Philadelphia is the first major U.S. city to ban cashless stores, placing it at the forefront of a debate that pits retail innovation against lawmakers trying to protect all citizens’ access to the marketplace.
Starting in July, Philadelphia’s new law will require most retail stores to accept cash. A New York City councilman is pushing similar legislation there, and New Jersey’s legislature recently passed a bill banning cashless stores statewide. A spokesman for New Jersey Gov. Phil Murphy, a Democrat, declined to comment on whether he would sign it. Massachusetts has gone the farthest on the issue and is the only state that requires retailers to accept cash.
The article goes on to state the following:
Philadelphia Mayor Jim Kenney, a Democrat, signed the bill into law last week. His spokesman noted that 26% of city residents live below the poverty line and many don’t have a bank account. Cash can be loaded onto prepaid debit cards, but those come with various fees.
Philadelphia’s new law banning cashless stores pits retailers’ desire to innovate against concerns over lower-income consumer access https://t.co/BvFkq94dPl
— The Wall Street Journal (@WSJ) March 7, 2019
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