George you may want to share this with your lawyer. Amar and Pranav, this may help your arguments on the POS machines
BGFI, will help the advocacy with the RBI. Why American cities are stopping stores from going cashless Printed from NEW YORK: New York City lawmakers voted on Thursday to require stores and restaurants to accept cash for payment, saying businesses that accept only credit and debit cards are discriminating against New Yorkers who lack bank accounts and credit cards. "This practice punishes the underbanked," city council speaker Corey Johnson said before the council's 43-3 vote in favour of the bill. Under the bill, businesses that refuse cash will be fined $1,000 for the first violation and $1,500 after that. The measure, which is expected to go into effect by the end of the year, also prohibits stores from charging higher prices for paying in cash. Backers of the cashless model say the benefits include greater efficiency and eliminating the risk of theft, but opponents say millions of Americans still rely on cash. Philadelphia became the first US city to ban cashless stores last year. San Francisco and New Jersey passed similar measures soon after. Only one jurisdiction required businesses to accept cash before 2019: Massachusetts, which passed a law nearly 40 years ago. Backers of the New York City bill said that hundreds of thousands of city residents don't have bank accounts or credit cards and that others simply prefer to use cash. "Whatever your reasons, consumers should have the power to choose their preferred method of payment," City councilman Ritchie Torres said. Councilman Kalman Yeger, a Brooklyn Democrat, said that businesses should accept cash but that the local government shouldn't force them to. But some businesses that will be affected by the no cash ban said they will follow the law when it is enacted. "We are proud to do business in NYC and will of course comply with all NYC laws and statutes," Nick Marsh, CEO of Founders Table, parent company of the Chopt Creative Salad Co. and Dos Toros Taqueria chains, said in a statement. A company spokeswoman said six of New York City's 18 Chopt locations and all of its 17 Dos Toros locations are currently cashless. Search for old postings at: http://www.mail-archive.com/[email protected]/ To unsubscribe send a message to [email protected] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in Disclaimer: 1. Contents of the mails, factual, or otherwise, reflect the thinking of the person sending the mail and AI in no way relates itself to its veracity; 2. AI cannot be held liable for any commission/omission based on the mails sent through this mailing list..
