Perhaps it’s the end of an era.
One of my local regular lunch haunts had a big sign in the window last week. “Effective 11/11, we will no longer accept cash.”
I must admit that I usually use a credit card to buy lunch. But I wondered what it would mean if I just wanted to stop in for a cup of coffee. Credit card too? What if someone comes in without a credit card? Will the restaurant really turning away the sale?
I guess I don’t have to carry my mad money anymore.
Adding the my e-payments industry persepctive to this thread: Credit/debit card rates are lower for face-to-face transactiosn when the card is "swiped" and in some limited cases requires a PIN or a signature on a paper reecirpt ("card present" as we call it in the biz) than for online transactions.
And the fast food/take-out/small restaurant industry is given extra low rates by the card brands so that adds to this trend in the food business.
The no-cash reasoning is continued when the exposure from handling cash is added to this mix. And as Ben said, younger patrons do not deal in cash.
Just for backgound...
Doubt cash is going away....most street coffee trucks - yes I buy coffee from them - only take cash. I work in an industry that is still cash/check focused - try paying a GC with a credit card. But I am with Cayce this collection of all my information by everyone is troubling. Tonight I bought theatre tickets at several box offices, each wanted my email address, phone # etc...I gave them grudgingly.
Have you paid for anything in cash recently? The cashiers no longer seem able to give change without seeing it on the register. And woo is the customer who finds some coins to make the transaction "easier" - it just confuses them more. Debit/Credit Cards cuts out on mistakes for the owners.