Post-coronavirus crisis, should we go cashless?

Source: Yahoo News - View Original Article
Published: May 06, 2020
Category:
Bias Rating:

66% Liberal


Bias Score Calculation:


Policies:

Illegal Immigration

Sentiments

99% "The 360 shows you diverse perspectives on the day's top stories and debates.""
98% "And who knows how long we're going to be operating with a latent amount of fear in our [customers'] minds about touching and extra ..."
96% "Cover thumbnail photo illustration: Yahoo News; photos: Getty Images""
95% "Read more 360s Is it worth risking lives to speed up a coronavirus vaccine?""
92% "-- Doug Pertz, USA Today Everyone should be able to participate in our economy Going cashless had positive results, but it also had the unintended consequence ..."
91% "Send your suggestions to the360@yahoonews.com.""
90% "-- Statement from SweetGreen restaurant chain, which reversed its cashless policy, Washington Post""
89% "What's next China is currently piloting the world's first digital national currency, and other countries are considering following suit.""
87% "Digital payment technology makes it too easy to surrender our privacy.""

We have listed the top 10 sentiments. More sentiments do exist. Please review the full article for more information.



*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization

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Contributing sentiments towards policy:

99% : "The 360" shows you diverse perspectives on the day's top stories and debates.
98% : And who knows how long we're going to be operating with a latent amount of fear in our [customers'] minds about touching and extra contact?"
96% : Cover thumbnail photo illustration: Yahoo News; photos: Getty Images
95% : Read more "360"s Is it worth risking lives to speed up a coronavirus vaccine?
92% : Cash can spread germs as it moves through hands, they say.
92% : -- Doug Pertz, USA Today Everyone should be able to participate in our economy "Going cashless had positive results, but it also had the unintended consequence of excluding those who prefer to pay or can only pay with cash.
91% : Send your suggestions to the360@yahoonews.com.
90% : -- Statement from SweetGreen restaurant chain, which reversed its cashless policy, Washington Post
89% : What's next China is currently piloting the world's first digital national currency, and other countries are considering following suit.
87% : Digital payment technology makes it too easy to surrender our privacy."
85% : I think it's a necessity after COVID.
83% : A cashless society is an exclusionary society
82% : Among the many lessons from this crisis, one will be that the U.S. must invest in its financial infrastructure to promote economic growth at home and its strategic influence abroad."
81% : Several states and cities, including New York City and New Jersey, have already banned cashless businesses.
79% : And a cashless world would be difficult for people who are less tech savvy, like the elderly, who often struggle to navigate digital systems.
74% : -- Aditi Kumar, Los Angeles Times
73% : Perspectives Proponents Cash is dirty and can carry germs "Do I want to grab the thing that you were just holding in your hand?
68% : -- Brett Scott, the Guardian Is there a topic you'd like to see covered in "The 360"?
67% : Advocates also argue that swiping or hovering a card over a terminal is more convenient than counting out bills.
66% : "Forcing customers to use only credit or debit is a discriminatory business model that disadvantages low-income people, people of color, undocumented immigrants and seniors.
65% : -- Harvard economist Kenneth Rogoff to Politico Digital wallets are more convenient "
64% : There are also privacy concerns, as it's easier to monitor digital payments.
64% : -- Steve Cannon to the Atlanta Journal-Constitution It's time to modernize our financial system "The U.S. financial system was once considered unrivaled, but COVID-19 has exposed a network of outdated and inefficient technologies.
62% : But opponents maintain that going cashless is discriminatory.
62% : Americans who signed up for direct deposit received stimulus payments much more quickly than those waiting for paper cheques" -- Gary Cohn, Financial Times Going cashless will help businesses recover in the pandemic
61% : Everyone in the community needs to have access to real food."
60% : What's happening When Amazon opened its first cashless Go stores in 2019, cities and states that banned cashless businesses forced the company to quickly pivot and start accepting cash.
60% : Why there's debate For cashless proponents, the pandemic is demonstrating why it's time to go digital.
60% : Story continues
58% : Critics also worry about scenarios in which, instead of being robbed of $20 from your pocket, you are hacked and lose everything in your bank account.
57% : Communities of color in New York City are more than twice as likely to be unbanked and are far less likely to host a branch of a bank than the national average."
57% : -- Stuart Appelbaum, labor union president, to the Guardian Without cash, it's easier to get into financial trouble "It can hurt people with low incomes when businesses go cashless, it can hurt workers who rely on cash tips and -- even if you're not in either of these groups -- it can hurt you because it's easy to get into financial trouble with credit cards."
56% : -- Sally French, New York Times Cash provides privacy "Cash safeguards our personal information, so each of us can decide whether or not to share the details of our spending habits.
51% : Amid the pandemic, Democrats have floated plans to give Americans "digital dollars" for future stimulus relief and to provide banking for those without accounts, but no legislation has yet been passed.
45% : What needs to happen for schools to reopen?
42% : According to a YouGov poll, almost half of Americans say that they are turning to cashless payments when making in-person transactions during the crisis.
40% : Going cashless excludes people without bank accounts -- such as those who are young, low-income, homeless or undocumented.
40% : For the U.S., digital wallets would have radically improved the government's ability to help individuals and small businesses in this pandemic.
37% : Digital systems can fail
37% : Cash, on the other hand, does not crash.
32% : Finally, critics say that there are logistical difficulties to a cashless society, given that there's no universal global digital banking system.
29% : "I think the business case spoke for itself before COVID-19.
24% : And as businesses look at reopening, they are implementing cashless protocols, such as Starbucks' pledge to shift to cashless payments so customers don't have to worry about virus spread.
24% : "Digital systems may be 'convenient,' but they often come with central points of failure.
24% : Should colleges give refunds over coronavirus?
20% : But amid the coronavirus pandemic, many Americans are rushing to use cashless payments, eager to avoid touching surfaces potentially contaminated with the virus.
20% : And cashless payments are faster: The millions of Americans still waiting for mailed coronavirus stimulus checks could have had the money deposited directly into their bank accounts.
18% : It does not rely on external data centres, and is not subject to remote control or remote monitoring."
6% : Plus, they say that thefts would decrease with the absence of money in cash registers and a better ability to track payments.
2% : Vulnerable people, such as domestic abuse victims, could no longer secretly save cash in hopes of escaping dangerous circumstances.
0% : Businesses would save money by saving the time that would otherwise be used to handle cash, they say.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization

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