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A cashless society wouldn't work in the US





Accepting cash ensures that all consumers can buy from any business. In fact, retailers that ban cash are excluding approximately 25% of people in the U.S. who are either totally “unbanked” or “underbanked,” with little or no access to other payment methods. Instead of excluding people, retailers should be making it easier for everyone to participate in our economy. The Federal Reserve cites cash as the most frequently used form of payment, accounting for 30% of U.S. consumer transactions, ahead of all other payment methods. Unlike alternative forms payment, cash requires no fees, no passwords, it can’t be hacked and it’s not vulnerable to identity theft, crashing IT systems and power outages. Cash safeguards our personal information, so each of us can decide whether or not to share the details of our spending habits. Digital payment technology makes it too easy to surrender our privacy.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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The debate

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Cashless backlash delays move to walletless economy

What are the pitfalls of a cash-free society ?

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Inclusion: a cashless economy fights the poorest, not poverty

A cashless economy to root out theft and petty crime?

A cashless economy as a bulwark against fraud and tax evasion?