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Cash Me If You Can
Report

Cash Me If You Can

The Impacts of Cashless Businesses on Retailers, Consumers, and Cash Use

FRBSF, 2019

автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

8

Qualities

  • Overview
  • Background
  • Engaging

Recommendation

A number of businesses in the United States are seeing the benefits of refusing to accept cash payments. However, downsides to a cashless economy abound, particularly for consumers, many of whom continue to prefer paying in the traditional way. This broad but enlightening paper from Federal Reserve policy expert Claire Wang examines the pros and cons to both businesses and individuals of going cashless. Her findings will intrigue economists, executives and consumers. 

Take-Aways

  • Businesses find they can better control their operating costs by not accepting physical money.
  • Consumers can be worse off in a cashless environment.
  • Legislation may check the rise of a cashless society in the United States. 

About the Author

Claire Wang is a policy analyst for the Federal Reserve System’s Cash Product Office.


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