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Advocates for cash transactions, such as Jason Bryce, who established Cash Welcome, are pushing for a broader inclusion of businesses in a new mandate that aims to safeguard the use of cash for those who depend on it.
The mandate currently exempts small businesses with annual revenues under $10 million, unless they are affiliated with a larger retail brand through a shared trademark.
Previously, Australian regulations did not require businesses to accept cash payments, leaving consumers without legal recourse if their preferred method of payment was declined.
The government plans to reassess the effectiveness of this cash mandate three years after its implementation to ensure it meets its objectives.
In a statement to Cash Welcome supporters, Bryce emphasized that the mandate should, at the very least, encompass all major retail chains.
“Ideally we want all retailers to be accepting cash,” he said in his latest newsletter.
“The costs of distributing cash needs to be shared by the big merchants so banks, consumers and small business don’t end up paying all the costs.
“The best thing that could happen for small businesses who like to accept cash is that big businesses all support the cash system.
“Big business, utilities and government agencies have escaped from this proposed cash mandate scot-free with no obligation to accept cash and support the cash system.
“Large brands like Bunnings, McDonalds, KFC, Kmart, Big W, AGL, Tyrepower, Telstra, Optus need to be captured by this cash mandate.”
One Nation senator Malcolm Roberts has launched a motion to overturn the new cash rules, claiming the laws are a “back-handed” attempt to phase out the use of cash.
The sentate is set to vote on the motion tomorrow.
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