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Amazon warns Philly it may rethink plans for brick-and-mortar store

“Amazon plans to open as many as 3,000 Amazon Go cashless stores across the US over the next few years” reports nypost.com. The same day Amazon scrapped its plans for a headquarters in Queens, it warned Philadelphia that it may rethink its plans to open a brick-and-mortar store there because of the city’s proposal to ban so-called cashless stores.Proponents of the bill argue that cashless stores discriminate against poor consumers who do not have access to credit or bank accounts.City Councilman Allan Domb said Thursday that Amazon called the Commerce…

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The Tampa Bay Rays are going cashless

“To be fair, there is a difference between a ballpark going cashless and, say, a convenience store doing it” reports nbcsports.com. Everything — beer, hot dogs, nachos, foam fingers and the rest — must be either (a) purchased with a credit card; or (b) with a Rays gift card which one can obtain for cash.It’s still a small handful of places, but a growing number of businesses, often coffee shops or upmarket fast casual restaurants, have adopted cashless policies, refusing to accept paper currency and requiring customers to pay with…

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Riksbank predicts Sweden will be ‘cashless’ within five years

“Sweden will probably become cashless in 3-5 years,” Riksbank deputy Skingsley said at a London banking conference” writes Midwest Communications Inc for 95kqds.com. LONDON (Reuters) – Sweden is likely to become cashless within the next five years, the deputy governor of the country’s central bank, Cecilia Skingsley, predicted on Tuesday.Alternatively they may develop into something that regulates and controls “privately created” money by firms looking to dominate global payment markets.”If we don’t do anything we are looking at a future where money will be spontaneously privatized,” Skingsley said. Source: 95kqds.com

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More retailers go cashless to cut costs, theft during holiday shopping

“And average orders are hundreds of dollars, making cash payments even less likely, the company says” writes Usa Today for suntimes.com. In an effort to cut costs and hassles, a small but growing crop of retailers have stopped accepting the tried-and-true paper currency.Visa last year awarded $10,000 to each of 50 businesses that produced videos explaining how going cashless would benefit them.Despite the pushback, IDC analyst Rivka Gewirtz Little predicts “significant and continued year-over-year growth (in cashless retailers) over the next 10 years.” Many, she says, could follow Walmart, which…

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Council bill aims to stop businesses from going cashless

“Businesses in gentrifying communities can fuel or exacerbate displacement by going cashless, Torres said” writes Janaki Chadha for politico.com. As commercial transactions grow increasingly cashless, a new City Council bill would prohibit restaurants and retailers from refusing cash to ensure those who lack traditional banking options aren’t left out of the fold.The bill, which will be introduced on Wednesday, would require all food service and retail establishments to accept cash from patrons or be subject to fines.All businesses that sell food, beverages or other consumer products would be covered.Prominent establishments…

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Sweden’s Cashless Drive Hits A Speed Bump

“In Sweden, the move to a cashless society has been marked by a quickened pace” reports pymnts.com. In another telling example of the shift to cashless, several thousand Swedes have been microchipped, with implants helping them to transact across goods and services.Regulators are now prodding banks to keep notes in circulation, as they mull what happens in various scenarios tied to the country’s digital eKrona currency.The younger generation has especially embraced the cashless mindset, with 18- to 24-year-olds — to the tune of 95 percent — using debit cards or…

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America moves closer to being a cashless society

“Forces will undoubtedly continue nudging us toward a cashless life, which comes with plenty of benefits” writes Bob Sullivan for marketwatch.com. The dollar value of cash transactions sank 7% from 2010 to 2015, according to The Nilson Report, while credit and debit card payments rose nearly 50%.In other words, they live an all-cash life, so would be entirely shut out in a cashless society. Source: marketwatch.com

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Homeless people are wearing barcodes under new project to increase donations in cashless society

“Homeless people are wearing barcodes around their necks in an attempt to increase donations in a cashless society, under an Oxford University backed initiative” writes Camilla Turner for telegraph.co.uk. A new social innovation project, called Greater Change, sees homeless people handed a QR code, similar to the kind issued for online tickets.Passersby who wish to give money – but may not have any change in their pocket – can scan the code using their smart phone, and make an online payment to the person. The donation goes into an account…

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