There was an interesting story on Axios yesterday detailing how many stores have been installing what are called “reverse ATMs” – which dispense store-value cards in exchange for paper money.
A regular ATM, of course, gives US money when we put in our debit or credit card, but reverse ATM’s do the exact opposite. These machines take OUR paper money and give us a prepaid plastic card in return.
The net result of this is that there is less cash in circulation with consumers, as the average citizen is slowly weaned off of paper money in favor of using a prepaid plastic card.
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