Unfortunately the bottom rung can least afford the fraud. If the currency is good enough to fool a street vendor, it’s probably good enough to spend with their

Unfortunately the bottom rung can least afford the fraud. If the currency is good enough to fool a street vendor, it’s probably good enough to spend with their suppliers. Not like they’re sticking it in a bank. I suspect those street vendors are also not accepting bills so large they’re worth counterfeiting. Chargeback fraud of course being more likely with credit card payments - but again, unlikely for small vendor transactions. It’s not worth it for anyone. The argument that people don’t carry cash anymore is certainly real enough - and the beggars/window washer at a red light types are the most impacted rather than real merchants.