Is Walmart Going Cashless in its Stores?
There have been a lot of claims on the social media space in the past few days concerning how retail stores in the United States, especially Walmart is moving towards a cashless form of payment in its stores. In most of these posts as seen on Twitter, Walmart is said to be planning on going cashless, a move which doesn’t sit well with Americans.
A Tweet with the claim had this to say, ‘I don't think I'm going to shop at Walmart anymore. The way they've been acting during the pandemic is ridiculous. Closing down at 8:30 when that'd be the safest time to shop. Now they are not taking cash, pushing for that cashless society stuff lol’.
Other Tweets with similar claims are all over Twitter as can be seen here, and here. In the face of all of these claims, it is important to dig deeper and find out if Walmart has been rejecting cash payments at its stores and insisting its customers pay with only cards.
After fact checking these claims, we can confirm that the scenarios portrayed in these social media posts do not represent the true position of things. Yes, Walmart has advised its customers to use cards in making payments if they can, but that has nothing to do with the retail chain store going cashless. Rather, it has something to do with the national coin shortage going on in the country.
According to an article on Inc. the situation is not limited to Walmart, as other retail stores have also been ‘advising’ their customers to use their debit and credit card for payments in the place of cash. Since there is no enough coin supply in the country due to the COVID-19 pandemic, it may be hard to provide customers with change after their transactions at the various Walmart stores, and to make sure this doesn’t repeat itself, customers are advised to pay with their debit and credit cards, as this would mean they would be charged the exact transaction fee when they pay with this method.
In the face of these allegations, a Walmart spokesperson has come out to set the record straight. In a chat with NPR, the representative said, ‘Like most retailers, we are experiencing the effects of the nationwide coin shortage. We’re asking customers to pay with card or use correct change when possible if they need to pay with cash. Cash is welcome at all our stores.’
It is important to say that the current nationwide coin shortage is caused by two main factors according to the Federal Reserve System. The first being a reduction in supply chain due to the reduced number of workers at the United Sates Mint currently. However, there is also the issue of hoarding as a significant number of people are not going out from their homes, which means a reduction in the amount of coins spent.
As can be seen from above, Walmart has only advised its customers to pay with their cards if possible due to the nationwide coin shortage, and they have not made the decision to go cashless.