N.J. lawmaker moves to keep stores from phasing out cash transactions

A New Jersey lawmaker wants to make it illegal for stores in the state to refuse cash payments from their customers.

Assemblyman Paul Moriarty was inspired to introduce his legislation after learning that Visa wants to give retailers cash incentives for accepting only credit card payments.

“I believe the move towards cashless retail is discriminatory towards people that don’t have high incomes or can’t actually get credit, can’t get a credit card, also towards young people who haven’t established credit yet,” said Moriarty, D-Gloucester.

And transaction fees for credit card use could drive up the cost of goods, he said.

Moriarty, who said he’s not aware of any stores in the state that have moved to cashless payments, said Wednesday he wants to be proactive. He hopes the Legislature will act on his proposal in the fall.