In a political climate that often leaves us exasperated, a rare bipartisan effort has emerged to protect the simple right to pay with cash.
At a Glance
- The Payment Choice Act mandates businesses to accept cash for in-person transactions.
- Senators John Fetterman and Kevin Cramer co-sponsor the bill, citing consumer choice and financial inclusion.
- The shift to cashless payments risks excluding unbanked and underbanked populations.
- The bill, introduced on July 17, 2025, awaits committee consideration.
Bipartisan Push for Cash Payments
Senators John Fetterman, a Democrat from Pennsylvania, and Kevin Cramer, a Republican from North Dakota, have joined forces to introduce the Payment Choice Act. This legislation aims to enshrine the right of Americans to pay in cash, a concept as American as apple pie but increasingly under threat in our digital age. As more businesses shift toward cashless transactions, vulnerable populations are being left behind. This bill is a necessary response to protect those who are unbanked or underbanked.
The bill stipulates that retail businesses with physical locations must accept cash for in-person transactions up to $500. Exceptions are permitted if businesses provide machines that convert cash to prepaid cards for free or if technical issues prevent cash acceptance. This provision ensures that businesses can innovate while still respecting the legal tender status of cash.
The Digital Divide and Consumer Choice
The rise of cashless businesses highlights a growing digital divide. Approximately 4.5% of U.S. households, often lower-income and minority groups, lack bank accounts. These individuals face exclusion from the modern economy as businesses adopt cashless models. The Payment Choice Act is a step toward bridging this divide, ensuring that every American can participate in the economy regardless of their financial status.
Senator Fetterman emphasized, “Every American should be able to use paper currency if they choose.” This statement underscores the importance of consumer choice in a free market. Meanwhile, Senator Cramer noted, “Cash is still legal tender in the United States,” highlighting the fundamental principle that underpins this bipartisan effort.
Implications for Businesses and Consumers
The Payment Choice Act would require retailers to adapt their operations to accept cash, potentially incurring costs for compliance and security. However, this move could broaden their customer base, including those who rely on cash transactions. For consumers, particularly the unbanked, this bill preserves access to essential goods and services without barriers.
Cash transactions also offer greater privacy, an aspect often overlooked in our digital age. As businesses increasingly track consumer behavior through digital payments, cash remains a bastion of anonymity. By preserving cash payments, the bill safeguards this important facet of consumer choice.
Broader Impact and Industry Response
The Payment Choice Act’s introduction has drawn attention from advocacy groups and media alike. Supporters, including the National ATM Council and the Amusement & Music Operators Association, argue that the bill is crucial for preserving “financial freedom of choice and purchasing privacy.” This support reflects a broader industry acknowledgment of the bill’s potential to maintain financial inclusion and privacy.
While some businesses and tech groups may prefer cashless operations for efficiency and security, the bipartisan nature of the bill demonstrates a shared recognition of cash’s enduring role in our economy. As the bill awaits committee consideration, its outcome will signal whether America will uphold the fundamental right to pay with cash, ensuring that all citizens remain included in the economic fabric of our nation.
