PHOENIX — They say cash is king, but the monarch of money seems to be getting dethroned.
Studies done by Pew Research Center found that about four out of 10 Americans last year said they didn't use cash for purchases in a typical week; relying instead on cards and mobile payments.
It's also becoming more common for retailers to go cashless.
Gadzooks Enchiladas and Soup has multiple locations in the Valley. The founder and co-owner Aaron Pool said it was a year ago when they decided to stop accepting cash. The decision was made after four of his locations were burglarized.
“All the cash was gone,” Pool said. “It’s just brutal situation to go through so that was when we were like it’s not worth it anymore.”
Now when you first walk into their doors, there is a sign warning customers that they do not accept paper money. Pool said at first, the majority of customers were okay with that, except for a select few.
"I think I've been called a communist," Pool said.
Now, he said lines go by a lot faster with people not having to wait to get their change. It's also created some stress relief by not having to worry about keeping cash inside the store.
"Overall it's a much more efficient process for us," Pool said.
Still, it's not a popular move with the Arizona Legislature.
State lawmakers tried to stop businesses like Gadzooks from banning cash. State Rep. Joseph Chaplik, R-District 3, introduced a bill that would require all retailers to accept paper money.
In a statement, Rep. Chaplik said minority populations are less likely to be enrolled with banks and rely on cash.
The bill made it all the way to the Senate where it stalled. Chaplik said it did not pass because the penalties were too stiff. However, he plans on reintroducing the bill next session.
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