People Get Left Behind in a Cashless World

Pick ten businesses you frequently visit. Across restaurants, department stores, and boutiques, each will have different payment preferences. That said, the overall trend is shifting toward a cashless environment.

In a recent New York Times article, “Payments Are Going Digital, but Many Seniors Still Rely on Cash,” author Paula Span highlights several businesses that no longer accept cash. One common example is chain restaurants. More surprisingly, the Home of Franklin D. Roosevelt National Historic Site—operated by the National Park Service—has also moved away from accepting cash.

Paula Span highlights that the National Park Service’s cashless policy created significant challenges for some visitors over the age of 70, ultimately leading them to file a lawsuit against the agency in March 2024.

While these policies can help deter crime and streamline transactions, they also have significant drawbacks. They disproportionately impact individuals without access to credit, people experiencing homelessness, and those who face technological barriers—such as many older adults—making it harder for them to participate fully in everyday commerce.

In the Wall Street Journal’s May 2023 article “Paper Money Diehards Refuse to Fold,” the Wall Street Journal spoke about the issue as it unfolded in Huddersfield, England. In England, the issue went as extreme as having a protest in the town, but no real progress was made on behalf of the cash-friendly consumers.

Another issue highlighted by the New York Times article is the occurrence of natural disasters and how they affect a cashless society. The concern of internet outages causes a massive issue for those who run on a cashless system, so the issue extends beyond just the consumer.

There is no perfect solution that will satisfy everyone. Businesses will likely continue moving toward cashless systems because they reduce theft risk and improve efficiency through automated budgeting and payment processing. At the same time, individuals who rely on cash will continue advocating for their acceptance. Although the federal government defines cash as a legal tender for all debts, both public and private, there is currently no law requiring private businesses to accept it.

Some cities, including New York and Philadelphia, have implemented policies that prohibit businesses from going fully cashless. However, progress at the federal level has been slow. The most recent attempt, H.R. 4395 in 2021, sought to require retail businesses to accept cash for purchases under $2,000, but it did not pass the House of Representatives. Currently, no federal regulatory agency directly oversees cash versus cashless practices, leaving companies free to determine their own policies. While the Consumer Financial Protection Bureau could potentially become involved, it has not taken action so far.

As this shift continues, it is important to balance modernization with inclusivity. Businesses should consider maintaining hybrid payment options, allowing both cash and digital transactions to accommodate a wider range of customers. Additionally, community outreach initiatives could help educate and support individuals facing technological barriers, ensuring they are not excluded from accessing everyday goods and services.

Ultimately, the debate over cash and cashless policies reflects broader questions about accessibility, fairness, and the pace of societal change. While businesses may view cashless systems as a step forward, they must also recognize the risk of leaving vulnerable groups behind. An inclusive economy is one that embraces innovation while ensuring everyone can participate fully. Works Cited: Congress.gov. “H.R. 4395—Payment Choice Act of 2021.” Congress.gov, 117th Congress, https://www.congress.gov/bill/117th-congress/house-bill/4395.

Maheshwari, Sapna. “People Get Left Behind in a Cashless World.” The New York Times, 7 Dec. 2024, https://www.nytimes.com/2024/12/07/health/elderly-cash-electronic-payments.html.

The Wall Street Journal. “Cash-Only Movement Pushes Back Against Apple Pay and Paper Money's Decline.” The Wall Street Journal, 2024, https://www.wsj.com/personal-finance/cash-only-movement-apple-pay-paper-money-3814f75a.

Yaffe-Bellany, David. “Cashless National Parks Face Legal Challenge.” The New York Times, 21 Mar. 2024, https://www.nytimes.com/2024/03/21/us/cashless-national-parks-lawsuit.html.