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22 HARTFORDBUSINESS.COM | June 6, 2022 What better banking's all about sm . westfieldbank.com Member FDIC Having a vision for your business is great. Adding our insight? Commercial Lending Term Loans n Lines of Credit n Commercial Real Estate Loans n Letters of Credit n SBA Loans You don't just want a loan. You want solid advice from an experienced business banker. You want a fair rate, flexible terms, and local decisions by a bank that's invested in your community and your success. That, plus a whole lot more, is what you can expect from Westfield Bank. How can we help your business? Call 860.265.3920. That's better. accounts — the underground economy of people who work a lot of blue collar jobs, day laborers, migrant workers and so on who don't have any way to operate this way," Johnson said. Because of this, there has been some political pushback on going fully cashless. Some states and cities — including New Jersey, Massachusetts and New York City — have passed laws requiring merchants to accept cash payments. Connecticut considered a similar law in 2019, but it didn't pass. "I think you might see more businesses taking things like PayPal or Venmo in lieu of taking cash because not everybody has a credit card or debit card — not everybody can get a bank account, so there has to be some other way for those consumers to be part of the process," O'Reilly said. Here to stay Even still, Johnson said he doesn't see the cashless trend slowing down. "I think it will even accelerate," he said. With younger generations increasingly using cashless options like those provided by Apple and Google, O'Reilly said more companies will have less cash transactions in the future. Lake Compounce currently has four cashless stations and more could be added if they are needed, Winters said. One concern ahead of opening day was that lines might build up around the kiosks, but that hasn't been the case, she said. "I have been here every weekend and I haven't seen a line at all, which is great," Winters said. Winters said she looks forward to seeing how the cashless payment system affects guest spending habits in the coming year. "I think it depends on the person, but it'll be interesting to see the data that we get back from it," Winters said. Lake Compounce opened its 2022 season in April and will remain open throughout the summer. It also hosts special events in the fall and during the holidays. HBJ PHOTO | STEVE LASCHEVER