
NYC May Pull the Plug on Cashless Restaurants, Retailers - walterbell
http://gothamist.com/2018/11/28/cashless_restaurants_nyc.php
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ng12
> In some ways, making a card a requirement for consumption is analogous to
> making identification a requirement for voting. The effect is the same: It
> disempowers communities of color.

This correct in the sense that we're solving the wrong problem. The problem is
that many people from poor communities lack any form of government
identification. It's also a problem that they are locked out of 21st century
payment systems. We should focus our efforts on fixing those problems, not
making sure they can continue to exist with sub-par services.

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fipple
“Eliminate the unbanked in NYC” is a lot harder to achieve than “require
businesses to accept cash.”

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hakfoo
I always imagined the solution was some sort of universal bank account.

Every SSN/ITIN/EIN has a bank account with some basic defined features
attached. The account might technically be operated by a state entity to solve
some of the cost problems of many accounts with near-zero balances. Might fit
well with the "turn post offices into banks" proposal that was big a year or
two ago--let them be the point of service for the universal account.

If this seems too Bolshevik, it could be a state-run "API only" product--
consumers have to associate the account with a private-enterprise bank to get
typical consumer features (cash deposits and withdrawls, a debit card). Let
consumers migrate the account to the "servicer bank" of choice the way you can
port your phone number from T-mobile to Sprint, and it would spur a
competitive market.

You'd also get some huge knock-on benefits. Everyone has a bank account for
direct deposit, so those predatory prepaid-debit cards for wages become
obsolete. Distributing welfare and social security is a lot simpler. It
provides a huge and uniform target for anyone wanting to do something new in
the payment space-- talk to their API and you can reach every potential
customer in the nation, rather than going bank by bank.

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closeparen
How is it possible to be unbanked in America in 2018? There are dozens of
options for an account with ACH and a Visa/MC debit card, before even touching
credit. From the big 4 banks’ traditional products, to neighborhood credit
unions, to websites like Ally and Simple, to apps like Chase Liquid and Amex
Serve. Meanwhile even shitty minimum-wage jobs are with bureaucratic
corporations that would never dream of paying employees in literal cash.

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dickeytk
It's not so easy if you're on ChexSystems—among other things.

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closeparen
Sure you won't get a full fledged checkwriting account, but would that really
stop you from getting a debit card with direct deposit?

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dickeytk
it's been a long time, but I speak from experience. Made a few mistakes,
overdrew a checking account (by like $50), and I had a tough time getting back
on my feet. Nobody would give me a bank account of any kind. I cashed my
checks into cash at walmart. Perhaps there are better solutions out there now,
but at the time I was lucky to discover US Bank didn't look into chexsystems
so eventually was able to get an account with them.

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squozzer
Interesting perspective. I figured NYC would go all-in on cashless because
cash facilitates tax evasion.

And to most governments, tax collection > human rights / conveniences.

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MR4D
Hmmm....I wonder if a hotel would be considered “retail”.

That could make booking a room at the Plaza pretty fun, and paying the bill
would be hysterical- especially if paid in twenties!

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syntheticcdo
Instead of forcing businesses to accept cash, why don't they provide debit
cards to the poor?

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Eridrus
Because providing debit cards to the poor costs money, and may not even help
if they're getting paid in cash.

Whereas this approach keeps the cost of handling cash on the restaurants.

