Moderator, "Your Money's No Good Here: Cashless Commerce vs. Financial Inclusion," NYPAY, New York, N.Y.
There is a strong push on the part of card companies and some merchants to eliminate cash in retail, citing reduced transaction times, crime, and worker headcount. But could cashless commerce deprive millions of unbanked customers from access to food and other goods and services?
States and municipalities are starting to push back with proposals to restrict cashless commerce in New York City, New Jersey, Philadelphia, and San Francisco.
- What is the current status of efforts to provide financial services to the unbanked?
- Will mandating the acceptance of cash help or hurt these effort?