New York City bans cashless stores

New York City Councilman Ritchie J Torres
COUNCILMAN TORRES: “Consumers should have the right to choose if they want to pay in cash or not”

New York City has joined New Jersey, Philadelphia and San Francisco in passing legislation that makes it illegal for stores, restaurants and other retail outlets to not accept cash.

“Under the bill, businesses that refuse cash face fines of $1,000 for a first violation and $1,500 for each subsequent offense,” The New York Times reports.

“Businesses with devices that convert cash to cards, like those found in many laundromats, are exempt under certain conditions, including a provision that there be no fee for such cards.”

“Consumers should have the right to choose if they want to pay in cash or not,” Councilman Ritchie Torres, lead sponsor of the new legislation, told the news publication.

“We are reining in the excesses of the digital economy.”