Reverse ATMs Take Bills, Dispense Cards as Stores Go Cashless

As stores and restaurants attempt to go cashless, they’re installing “reverse ATMs” that dispense stored-value cards in exchange for greenbacks.

Why it matters: More businesses are eschewing cash — a trend accelerated by the pandemic — but states and cities are passing laws banning them from doing so, in deference to people who don’t have bank accounts or credit cards.

• Handling cash is also a hassle for retailers, with problems including theft and constant runs to the bank.

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Source: Axios