The Old Pawnbroker's Blog

News for Pawnbrokers and Precious Metals Dealers

Cashless Society Getting Closer

And the noose tightens. I paid my mechanic yesterday with cash, mostly hundred-dollar bills. Before doing so I asked him, jokingly of course, “Do you still take cash.” . He smiled and said “Yes but most of my customers, about 90 percent, pay with a credit card.”. He explained that most auto repairs are an unexpected expense. If it weren’t for credit cards, many Americans would be walking because they have no cash reserves.

http://www.reuters.com/article/us-global-economy-cash-idUSKBN17S001

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