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Bank of Canada urges retailers to stop banning cash transactions

Thursday 19 March 2020 10:57 CET | News

The Bank of Canada has urged retailers to stop banning cash transactions for fear of spreading the coronavirus, saying the practice could hurt people who relied on physical money.

Several Canadian outlets, citing health concerns, are declining to take cash. For instance, coffee store chain Second Cup said that its outlets would only accept debit, credit, gift cards and mobile payments.

“Refusing cash could put an undue burden on people who depend on cash as a means of payment. The Bank strongly advocates that retailers continue to accept cash,” the central bank said in a statement.

“The risks posed from handling Canadian bank notes are no greater than those posed by touching other common surfaces such as doorknobs, kitchen counters and handrails,” it said.


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Keywords: Bank of Canada, cash, coronavirus, retail
Categories: Payments & Commerce | Payments General
Countries: Canada
This article is part of category

Payments & Commerce