New York State recently joined a number of other states in prohibiting businesses from enacting a cash-free policy. A cash-free policy means a business can refuse to accept cash or even charge a ‘service’ fee for taking cash. There was significant pushback against businesses having no cash policies and the measure failed. However, as the world focuses on hygiene, specifically hand-washing or avoiding shaking hands, reducing the exchange of cash could be seen as a good thing. Perhaps it’s time to reconsider the benefits of a cash-free environment.
