New York Mandates Cash Acceptance to Protect Consumer Access

Under the law, food stores and other retailers cannot refuse cash or impose higher prices on customers who choose to pay with physical currency. Businesses that breach the rules face fines of up to $1,000 for a first offence and $1,500 for subsequent violations.

The measure was approved by the New York State Legislature and signed into law by Governor Kathy Hochul, aligning statewide policy with similar regulations already in place in New York City since 2020.

New York Attorney General Letitia James has issued a consumer alert urging residents to report non-compliant businesses, stating: “Businesses cannot deny New Yorkers access to necessities like food and clothing by refusing to take cash, or charging shoppers more for paying in cash.”

The move reflects a broader global trend as policymakers respond to the rapid shift toward digital payments by safeguarding access for cash-reliant groups, including lower-income, elderly and unbanked populations. Similar measures have been introduced in Australia, where new rules require many fuel and grocery retailers to accept in-person cash payments below a set threshold during standard trading hours.