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Fear of Virus-Tainted Dollars Opens New Front in War on Cash

  • Some banks urge Fed and Treasury to vouch for safety of bills
  • Yet payments firms could benefit if cash is labeled a threat
Dick’s management placed notes requesting customers use credit or debit cards in lieu of cash.
Dick’s management placed notes requesting customers use credit or debit cards in lieu of cash.Source: Dick’s Drive-In

The signs began appearing around Seattle in the windows of Dick’s Drive-In, the city’s iconic burger chain: “In an abundance of caution, we ask you to please pay with credit or debit card if possible rather than cash.”

Fear of dollars is now palpable in the U.S. epicenter of the coronavirus.