Businesses less willing to accept cash payments – Atlanta Fed
Increasing number of businesses are becoming reluctant to accept low-value cash payments
Some businesses in the US are becoming increasingly reluctant to accept cash in low-value payments, although cash still dominates for quick purchases, says an article published by the Federal Reserve Bank of Atlanta on June 25.
“Consumer habits are sticky when it comes to cash. Despite the many ways to pay, consumers make almost one-third of payments (by number) in cash,” says Claire Greene, a payments risk expert at the Atlanta Fed. “But sometimes cash just isn’t an option.”
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