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Visa to merchants: We’ll give you $10,000 if you stop taking cash

Visa plans to give $10,000 apiece to 50 small businesses to upgrade their payment technology — as long as they stop accepting cash. The Wall Street Journal reports that the $500,000 campaign is designed to start merchants on a “journey to cashless” by giving their customers a way to pay via phone or other contact-less payments such as Apple Pay. Businesses can apply to be included starting in August, Visa said. American consumers pay with cash for the majority of their transactions, found…

Article by Riley McDermid (c) San Francisco Business News - Local San Francisco News | The San Francisco Business Times - Read full story here.