New York (CNN) New York is on track to ban cashless businesses after the city council voted to join San Francisco and Philadelphia in requiring brick-and-mortar stores to accept cash.

Under the law, food and retail establishments would have to accept American bills and coins or face a fine. Mayor Bill De Blasio is expected to sign the bill, his office told CNN.

"When you open a dollar bill, it reads 'This note is legal tender for all debts, public and private,'" said Councilman Ritchie Torres, the sponsor of the bill. "Cash ought to command universal acceptance."

Once signed, businesses would have nine months to adjust before the law takes effect.

Torres said the bill would protect the most vulnerable New Yorkers, such as seniors, homeless people and undocumented residents.

Read More