
Cash is dying, and the unbanked are being left behind - pslattery
https://onezero.medium.com/cash-is-dying-and-the-unbanked-are-being-left-behind-5a796f5e8055
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LinuxBender
Where is this a reality? I pay cash all the time. Most of the services I pay
for have a local presence. Paying online is just a convenience for me, but
entirely optional.

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sigmaprimus
The article mentioned Mastercard paying transit fares on Fridays in New York,
for those who are not unbanked. Thats pretty real.

I have a few more real world examples:

First, in northern Canada, food and other merchandise in brick and mortar(cash
accepting) stores has a premium of typically 150%-200% applied to the products
under the guise that it costs more to have it shipped into northern towns.

So people without bank accounts living in the north have no choice but to pay
this premium if they only have cash, but if you have a bank account you can
order the exact same stuff online at aleast half the price the stores are
charging and get free two day shipping.

Secondly, people without bank accounts get to pay a premium to cheque cashing
centers if they get paid by cheque, even trying to cash a cheque in the bank
and branch location where a cheque is drawn from will result in a surcharge of
five dollars or more if you dont have a bank account with them.

Finally most credit cards offer a cash back scheme where 2%-4% of purchases is
given back to the purchaser. In a free market system based on supply and
demand cash back schemes increase prices for all purchasers but people who pay
cash do not get the rebate.

