Latest news with #cashpayments
Finextra
5 days ago
- Business
- Finextra
NY legislature passes Statewide cash law
A bill banning retailers from refusing to accept cash payments has passed both houses of the New York State Legislature. 0 The legislation, sponsored by Senator James Sanders Jr and Assemblymember Catalina Cruz, prohibits food stores and retail establishments from refusing to accept payment in cash. The sponsors say the move ensures that all New Yorkers — especially low-income, elderly, and unbanked people — can access essential goods and services in an era increasingly dominated by digital payments. The measure now awaits Governor Hochul's signature. Says Senator Sanders: 'Cash is still king for many New Yorkers who live paycheck to paycheck or who simply don't have access to credit or banking services. 'No one should be denied a sandwich, a bottle of water, or a loaf of bread because they don't have a debit card. This bill is about fairness and basic dignity.'
Travel Daily News
23-05-2025
- Business
- Travel Daily News
Moroccan Dirham sales surge amid tourism boom says Travelex
Travelex reports 67% surge in UK sales of Moroccan Dirham, driven by Morocco's tourism boom and strong local preference for cash payments. Leading foreign exchange brand Travelex has seen an increase in the sale of the Moroccan Dirham (MAD), reflecting the country's new status as North Africa's most popular tourist destination and its prevalence on cash transactions. Between January and March of this year, Travelex reported Moroccan Dirham sales increasing by 67% in the UK and 33% in Europe compared to the same period in 2024. According to UN Tourism data, last year Morocco emerged as Africa's most-visited tourist destination, attracting 17.4 million international travellers in 2024 – a 20% year-on-year increase from 2023. In Q1 2025, Morocco attracted four million visitors, which is a 22% year-on-year increase on Q1 2024. 'Morocco has become an attractive destination for international visitors and we're seeing this reflected in our sales of MAD,' said Simon Jackson, Chief Customer Officer at Travelex. 'Travellers are looking for affordable destinations, and given the cost-of-living challenges customers are facing, it's no surprise that Morocco is becoming a tourist hot spot. With heavy investment in tourism and budget airlines increasing flight paths, it's a great time to buy MAD and spend like a local.' Morocco remains one of the world's most cash-reliant nations, with cash still used in 90% of all purchases according to Western Union data. In particular, smaller vendors, taxis, bazaars and public transport are unlikely to accept card payments with a preference for cash. 'Travel money is especially important for cash-centric societies like Morocco and while digital payment will likely increase in the future, it's our mission to ensure our customers have access to the currency they need – both cash and card – whenever and however,' Jackson added.
