REGULATION · US
Illinois mandates retail cash acceptance by 2028 via Retail Cash Payment Act
Illinois Gov. Pritzker signed HB 4592 on July 31, requiring retailers to accept certain cash payments starting Jan. 1, 2028. Law bans blanket rejection of physical currency but exempts online/remote transactions and allows merchant-specific exceptions.
WHY IT MATTERS
First state-level mandate of its kind; signals broader pushback on cashless retail. Fintech/POS vendors now face compliance burden to ensure payment processors support dual-rail settlement; impacts BNPL and digital-only payment models.
Source: PYMNTS · 2026-08-05