Coronavirus crisis greasing skids for rollout of cashless society
Amid the nationwide coin shortage, businesses across the U.S. have been offering their customers specials to bring in coins.
Smaller mom and pop convenience stores may offer a cup of coffee, while other companies – notably Chick-fil-A – are even going as far as offering free food.
At one Chick-fil-A in Lynchburg, Va., the company is offering coupons for a free entree in exchange for every $10 in rolled coins that guests provide, in addition to the same amount in cash. Each guest is limited to 10 coupons maximum, according to the Hill and the company’s Facebook page.
The store is allowing customers to come in on Wednesday between 9AM and 11AM to redeem the coupon. The company has said on its Facebook page that the response has been “overwhelming” and that they will definitely do another special of the sorts.
The special comes as the nation faces a massive coin shortage as a result of the coronavirus lockdown, which eliminated not only the amount of people going to stores – but specifically the amount of people using cash to pay for things.
The Federal Reserve imposed a rationing order last month, which limits the number of coins given to regional banks.
Fed Chair Jerome Powell had said: “With the partial closure of the economy, the flow of funds through the economy has stopped. We are working with the Mint and the Reserve Banks and as the economy reopens we are starting to see money move around again.”
Chick-fil-A commented: “Due to the decrease in coin circulation nationwide, some restaurants may choose to offer incentives like this one to ensure they maintain enough coins to provide guests proper change, should they choose to pay with cash. This is not a national promotion, as Chick-fil-A restaurants are individually owned and operated.”
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