ND North News

U.S. Senators Kevin Cramer and John Fetterman have introduced the Payment Choice Act, a bipartisan bill aimed at preserving payment options for consumers. The legislation ensures that customers can use cash as a form of payment without facing higher prices.

"Cash is still legal tender in the United States, despite some businesses’ exclusive acceptance of electronic payments," said Senator Cramer. "Forcing the use of credit and debit cards or imposing premium prices on goods and services paid for with cash limits consumer choice. Americans should have the option of using cards or cash, but they should be the ones who make that choice."

Senator Fetterman added, "It’s simple: if you’re open for business in America, you should take U.S. dollars. I’m proud to introduce the bipartisan Payment Choice Act with Senator Cramer because every American should be able to use paper currency if they choose. We have millions of people in this country who don’t have access to bank accounts, and they must be able to go shopping with their hard-earned dollars."

The National ATM Council expressed gratitude towards both senators for their leadership in maintaining U.S. currency as legal tender and a payment option for basic goods and services. They emphasized that "the continued vitality and universality of cash in America is essential to maintaining the US Dollar’s position abroad as the world’s premier fiat currency, while also preserving personal financial freedom of choice and purchasing privacy for us all here at home."

Despite most American households having access to financial services, 4.5% do not have a checking or savings account. Those without access are often from lower-income backgrounds or minority groups. Cash payments remain significant, accounting for nearly 20% of all transactions in the U.S.