Cashless Trend Leaves Vulnerable New Yorkers Struggling Now

UPDATE: A growing cashless economy in New York is leaving vulnerable residents behind, as many struggle to make ends meet without access to digital payment methods. New reports reveal that while affluent New Yorkers thrive in this tap-to-pay environment, those relying on cash are feeling the pinch.

Just announced findings from a 2022 Pew survey highlight a stark divide: approximately 60 percent of adults with household incomes over $100,000 report making no cash purchases in a typical week. In contrast, only 24 percent of those earning less than $30,000 can claim the same.

This rapid shift to cashless payments significantly impacts street performers, food vendors, and individuals facing financial hardships. One such individual is Rob Brender, a disabled man who has been panhandling in New York for nearly a decade. “I sit in the street with a cup for change and I listen to 104.3 and I rock it out,” he shared. However, Brender’s routine has been disrupted as the cash flow into his cup dwindles amidst an ever-increasing number of shoppers.

Brender, who resides in a group home at Creedmoor Psychiatric Center, recently received a sign featuring his Venmo username from a friend. Yet, he admits he doesn’t even know how to access the account, rendering this modern payment solution useless for him. “Lately, I’ve seen more people but cash hasn’t been flowing in,” he lamented.

The urgency of this situation cannot be overstated. As New Yorkers embrace digital transactions, the needs of the city’s most vulnerable populations are being overlooked. Authorities and community leaders must address this growing gap to ensure that no one is left behind in the transition to a cashless society.

What happens next? Activists and local organizations are calling for increased awareness and support for cash-based services to aid those reliant on cash. As the city moves forward, it remains critical to monitor how this digital shift affects all residents, particularly those who are struggling the most.