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ATMIA to advocate for cash during annual DC fly-in
March 8, 2019
A nationwide ban on cashless retail will be the focus of Capitol Hill meetings in April when the ATM Industry Association holds its annual Washington, D.C., fly-in event.
Also in the weeks ahead, the association plans to issue a position paper tentatively titled "Cash is Legal Tender," according to an announcement.
Advocacy throughout 2019 will bring significant and continued attention to the ongoing importance of cash and its part in promoting financial inclusion, the announcement said.
The effort to ban cashless policies by retail businesses gained media attention last week in Philadelphia when Mayor Jim Kenney signed an ordinance barring retail shops and restaurants from going cashless.
Opponents of the ban fear a negative impact on the retail sector, while many supporters consider that it did not go far enough, allowing exemptions for parking facilities and certain types of retail stores, the association said.
ATMIA cited Federal Reserve data indicating that cashless retail unduly limits consumer payment choice, eliminating the favored payment method for 26 percent of the population.
Industry data indicates that an even larger portion of the public prefers to use cash in local retail establishments and fast food restaurants, and for person-to-person payments and other transactions of $25 or less.
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ATM Industry Association (ATMIA)
The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.
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