There is a strong push on the part of card companies & somemerchants to eliminate cash in retail, citing reduced transaction times, crime,and worker headcount. But could cashless commerce deprive millions of unbankedcustomers from access to food & other goods & services? States andmunicipalities are starting to push back with proposals to restrict cashlesscommerce in New York City, New Jersey, Philadelphia & San Francisco.
We'lluse this latest skirmish as a starting point for a discussion on the ongoingbattle for financial inclusion. What is the current status of efforts to providefinancial services to the unbanked? Will mandating the acceptance of cash helpor hurt these effort?
Partner Davis Wright Tremaine LLP
Columbia University Founder & head of the Digital Financial Services Observatory, at the Columbia Institute for Tele-Information