I actually think this is fundamentally an attack on the right to transact anonymously. Trends towards the confiscation of large sums of cash, increasing restrictions on moving money relating to KYC/AML, and the further emphasis on digital forms of payment give governments and, more worryingly, banks the ability to exert incredible influence over the day-to-day lives of individuals.
Here's a good Canadian example - banks now refuse accounts to "high risk" businesses like money services (currency conversion etc.) under the guise that the KYC/AML requirements involved make it too risky for the bank to service them. And yet, our major banks have huge currency conversion businesses - so in essence these laws are being used to stifle competition.
For merchants, credit cards and debit were originally billed as items that would improve their sales - so who cares if interchange fees add up to a whopping 3% on transactions? But now with almost everyone demanding that stores accept credit/debit, merchants are hit with what is essentially a non-government tax on their revenues. Every "cash back" or "rewards" card is basically funded at the expense of merchants.