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New York City Council Bans Cashless Food And Retail Stores

PYMNTS

The New York City Council on Thursday (Jan. 23) passed a ban on cashless food and retail stores. Applebaum added that communities of color in New York City are more than twice as likely to lack access to a bank and are less likely to host a branch of a bank than the national average.

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US retailers' EMV pain opens path to contactless-only checkout lanes

Payments Dive

Mobile Payments Today spoke about this concept with payment technology providers at the recent National Retail Federation Big Show in New York City.

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Report: One-Third Of NYC SMBs Could Close Permanently

PYMNTS

It’s closing time for many small businesses in New York City. The New York Times said a new report from the Partnership for New York City estimated that one-third of the city’s 240,000 small businesses could close down and vanish.

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Senators Push For Bill That Would Force Retailers To Accept Cash

PYMNTS

Robert Menendez (D-New Jersey) and Kevin Cramer (R-North Dakota) have introduced a bipartisan measure that would forbid merchants from declining cash payments from customers as businesses promote contactless digital payments amid the COVID-19 health crisis, CNBC reported.

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Retail Lease Defaults Have Ripple Effect

PYMNTS

As it does during the first week of every month of the pandemic, attention turns to retail leases. This week found that one of the crisis’ most troubled retailers — Nordstrom — will only pay half of its rent for the balance of 2020. Retail Properties of America, Inc. percent of Q2 2020 rent as of the end of June.

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The Three Big Legal Issues Retailers Face From The Coronavirus

PYMNTS

With the current health emergency retailers face unprecedented issues. Closing stores, limiting hours, changing order patterns, remote work — all of these issues have joined basic survival as retailers contend with sudden and unpredictable challenges during the coronavirus pandemic. 1: Employees. Read the fine print in the lease.

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Retail ?Armageddon? Predictions Spur Alternative Scenarios

PYMNTS

As retail reopens and starts to spur some optimism for the future, a dark number appeared on the scene on Tuesday (June 10). Coresight released a report that says 25,000 retail storefronts will close by the end of the year. However, this shift does not portend a complete abandonment of brick-and-mortar retail.

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