Are you ready for the cashless society? Stroll into the airy Kit and Ace store on Woodward Avenue in Detroit and you’re struck by the minimalist style that highlights the brand’s comfortable, street-smart clothing line. But if you wanted to buy a scarf, maybe one that’s on sale for about $50, don’t bother paying with cash. The store won’t take your Benjamins — or Hamiltons, Jacksons or Grants.

It’s nothing personal. It’s a no-cash policy that has been adopted at other Kit and Ace stores, too. I don’t imagine anyone who favors don’t-look-like-you’re-trying-too-hard fashion is going to care too much if they can’t spend actual cash. But the oddity of a no-cash policy does make you think. How much closer, really, are we to a cashless society? Are we looking at the beginning of a more minimalist approach to money? READ MORE