> Businesses that still want cashless transactions can provide a machine that exchanges cash for a gift card, but must accept cash if the machine breaks down, according to the new law.

This would be a huge issue to me. I will admit that I don't live in NYC, but if I was to travel there on business and a random restaurant made me trade in $20 for a gift card to pay for a $8 meal in a place that I will probably never go back to, that's $12 out of my pocket that I paid in "cash is inconvenient" tax to that restaurant.

Even worse, if I go to a store all the time (e.g. it's the only grocery store within walking distance and I don't have a car) but I'm underbanked, then I have to continually keep money in their "bank".

> "Your total comes out to $20 but you only have $8 in store-bucks! Don't have exactly $12 in cash? That's a shame. I guess you'll have to come back to spend the rest!"

Later you find out that the gift cards expire. Oops.