Since the outbreak of the COVID-19 virus, many places have gone cashless. This includes businesses and college campuses, including UTSA. These places have started only accepting credit cards, digital payments through apps or tap-to-pay methods. In response, many large cities, including Los Angeles and New York City, have placed bans on cashless businesses, claiming that it is discriminatory to low-income people, people with learning disabilities, seniors and people of color. Nevertheless, people still see cashless payments as modern and efficient as opposed to paper currency.

The debate over cashless businesses in the wake of the COVID-19 Pandemic has raised valid concerns about accessibility and equity. While cashless transactions are undoubtedly convenient and efficient, they exclude segments of the population who may not have access to the necessary technology or financial resources. Economic disparities are a significant issue, as not everyone has access to a bank account or credit card, and low-income individuals often rely on cash for their transactions. A 2022 survey by the Federal Reserve Bank of San Francisco showed that 18% of people still make all or most purchases with cash. The more places that only accept cashless transactions, the less accessible these places are to some of the population.

For colleges, going cashless can streamline transactions on campus, making it quicker and more convenient for students and staff. This efficiency can be valuable in campus cafeterias, bookstores and parking services. Going cashless can also reduce the need for handling physical cash, which can lower the risk of errors and theft as well as the risk of disease transmission. Cashless transactions are also easier to trace, which can be useful for students to do financial tracking and budget management.

That being said, going cashless can exclude students who may not have access to digital payment methods or bank accounts. Many students, especially those from low-income families, may rely on cash for their financial transactions, and campuses going cashless could pose a barrier to their participation on campus. 

At UTSA, 75% of students qualify for financial aid as they are considered to come from low-income families. Many of these students could rely on cash transactions, but with a cashless campus, Roadrunner’s spending would be limited and the amount of businesses they can interact with would be sparse. 

Handling cash can also be an important life skill, especially for college students transitioning into adulthood. Using cash can help students develop better financial literacy, as they can see and manage their physical money more effectively than through digital transactions.

The decision to go cashless or not should be made carefully, taking into account the needs and preferences of the student body. A hybrid approach may be the most suitable to accommodate different preferences and needs. Having both cashless and cash payment options can prove beneficial to the campus, as they will still utilize increased efficiency while ensuring that no student is excluded from participation due to their payment preference or financial circumstances.