COVID-19 Concerns Point in Direction of Cashless Payments

To promote safety and efficiency, the restaurant industry is encouraging cashless transactions. But what about those without access to a bank or credit cards?When the coronavirus crisis took hold of the U.S. in mid-March, restaurants were forced to close their doors and shift to offering take-out and delivery services exclusively. In an attempt to mitigate the spread of the virus, many of these businesses said they would, for the time being, no longer be accepting cash.

At the start of the pandemic, eight percent of U.S. businesses were effectively cashless — meaning 95 percent of all sales were made with a credit or debit card. By the end of April that number jumped to 31 percent, and now, in early September, it’s leveled off at 20 percent. 

COVID-19 continues to inch the economy closer to becoming cashless. Even with reassurance from health officials that cash is safe so long as employees and consumers wash their hands, many are concerned that direct handling of cash could…