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Show Me the Money: Does Going Cashless Hurt Financial Inclusion?
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Show Me the Money: Does Going Cashless Hurt Financial Inclusion?

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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Going cashless might seem the logical route for retailers and other establishments that want to take full advantage of the digital economy. The Amazon Go convenience stores in Seattle, Chicago and San Francisco, the Mercedes-Benz Stadium in Atlanta, and a few retailers in Philadelphia are among those to embrace a cashless system. However, the City of Philadelphia has now stopped the cashless brigade in its tracks, making the case that it excludes people who don’t have credit cards or bank accounts, or those who simply prefer to pay cash. Come July, an ordinance the city passed recently will take effect, with exceptions for some establishments like parking garages. At first glance, the ban on cashless stores seems to fly in the face of the drive towards a truly digital economy, but both sides of the table have compelling arguments.…

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