COVID-19 pandemic could accelerate shift to cashless, experts say

Article Link: https://torontosun.com/business/money-news/covid-19-pandemic-could-accelerate-shift-to-cashless-experts-say/wcm/c69ecfa4-b8a5-42af-b8cb-b08c595fb39d

Discussion posted by: IRWeasel

Some businesses reopening with pandemic protocols in place have said they won’t accept cash for the time being, potentially accelerating what the Bank of Canada describes as a decade-long shift away from the banknote. Cashiers at Longos, Best Buy and The Shoe Company, for instance, will refuse cash out of concern the bills are a vector for the novel coronavirus. But experts — and Canada’s central bank — warn this leaves those without bank accounts, and some others with low incomes, by the wayside.