New York bans cashless retail businesses

Restaurants and retail businesses in New York City will be required by law to accept cash from customers, or face fines of up to $1,500 per violation, reports The New York Post. Refusing to accept cash is unfair to the 25% of New Yorkers who are unbanked or underbanked, say drafters of the regulation. New York joins Philadelphia and San Francisco in banning cash-free establishments. Read the rest

Foreigners visiting China are increasingly stumped by its cashless society

Technically, it's illegal for Chinese merchants to refuse payment in cash, but this rule is hardly ever enforced, and China has been sprinting to a cashless society that requires mobile devices -- not credit-cards -- to effect payments, even to street hawkers. Read the rest