Restaurant Segment Continues to Embrace the Move Toward a Cash-Free Future - AP Multimedia Newsroom

RESTAURANT SEGMENT CONTINUES TO EMBRACE THE MOVE TOWARD A CASH-FREE FUTURE

Small business owners across the country see true benefits in moving towards digital payments.

 

Cash may no longer be king.  Momentum continues to trend towards a cash-free digital future.

“Who still carries cash around? I barely ever do,” says Maria Eberhart.

“I use credit cards fairly often mostly because of the points,” adds Monica Magnay.

“I just don't use it as often it's just really rare that I have cash on me sometimes I just like I just need 20 dollars in my wallet for random things but I just don't use it,” says Anyka Barber.

 “Going cashless is definitely a trend moving forward,” says Nelson German, owner of AlaMar Kitchen + Bar in Oakland, California.  “I think for the neighborhood that we're in we saw that we weren't getting much cash anyway. Cash transactions um, maybe 2 percent for the whole month.”

Credit card merchants are taking notice.  Visa recently asked small businesses in the food-service category how cashless transactions could benefit their business and their customers.

“My involvement with Visa cashless challenge was a way to showcase just going cashless basically. Um different reasons for that—of course to reduce labor,” says Nelson German.  “It's the #1 thing right now in the industry. Also, less of a chance of getting burglarized and then also to make a kind of a clean streamlined environment.”

Mobile phone payment technology and wearables are contributing to the cash free movement.

“An alternate way people pay is actually using their phones,” says Nelson German.  “If somebody doesn't have their card on them they can use Apple Pay, Google Wallet, PayPal too.”

“I think there’ll always be a need for cash in certain situations,” says Mark Stinner.  “But I think everything at least here and everything that tells me is going definitely towards cashless.”

Additional edits on Media Port and Video Hub, Story No. 4146592. 

B-ROLL AND SOUNDBITES

Oakland, Calif. – March 12th, 2018

1. Exterior, AlaMar Kitchen + Bar

2. Patrons in line

3. Cash free transaction

4. “We’re going cashless” table top sign

5. Cash free transaction

6. Server talks to patron about the menu

7. Close-up of credit card, transaction

8. Patrons dining in the restaurant

San Francisco, Calif. – March 12th 2018

9. Patrons in line at the Señor Sisig food truck

10. Patron looking at menu

11. Patron handing her credit card

12. View from inside the truck of patron ordering

13. Food preparation

14. View from inside the truck of patron ordering

15. Patron paying with their wearable technology

16. Patroon paying with their smart phone

17. Visa cashless challenge decal

18. Soundbite (English) Nelson German, Chef & Owner, AlaMar Kitchen & Bar

“My involvement with Visa cashless challenge has been awesome. It was a way to showcase what we have done for the past year going from, just going cashless basically. Different reasons for that. Of course, to reduce labor which is the #1 thing right now in the industry. Also less of a chance to get robbed or burglarized which unfortunately it had happened to us and then also to make a kind of a clean streamlined environment.”

19. Soundbite (English) Nelson German, Chef & Owner, AlaMar Kitchen & Bar

“Going cashless is definitely a trend moving forward. I think for the neighborhood that we're in we saw that we weren't getting that much cash anyway. Cash transactions um, maybe 2 percent out of for the whole month so it was something that fit right in to where our location is and just the people around us. So, it was an easy transition for us.”

20. Soundbite (English) Nelson German, Chef & Owner, AlaMar Kitchen & Bar

“They either go up to the counter or they just sit down at a table if they already know what they want and just order through the phone and it's all cashless.”

21. Soundbite (English) Nelson German, Chef & Owner, AlaMar Kitchen & Bar

“So, an alternate way people pay is actually using their phones. If somebody doesn't have their card on them they can use Apple Pay. Google Wallet, PayPal too. Our system integrates with that very easily so it's a fun thing to see.”

22. Soundbite (English) Maria Eberhart

“No not that much. The cash restaurants are like my least favorite restaurants because, because who still carries cash around? I barely ever do.”

23. Soundbite (English) Anyka Barber

“I just don't use it as often it's just really rare that I have cash on me sometimes I just like I just need 20 dollars in my wallet for random things but I just don't use it.”

24. Soundbite (English) Monica Magnay

“I use credit cards fairly often mostly because of the points.”

25. Soundbite (English) Mark Stinner

“I think there'll always be a need for cash in certain situations but I think everything at least here and everything that tells me is going definitely towards cashless.”

SAN FRANCISCO, CA – MARCH 29, 2018: Visa (NYSE:V) today announced the 50 winners of the Visa Cashless Challenge. The contest asked small businesses in the food-service category to explain how the cashless movement could benefit their business for a chance to win a monetary prize. Each winning business received $10,000 they can use to assist in their plans for digital commerce enhancements, point-of-sale upgrades, marketing efforts and other business improvements. Challenge submissions showed their top reasons for their businesses preferring cash-free payments, including efficiency at the point of sale, increased security for employees and reduced overall costs.

“Going cashless was a major key to helping our local dessert business activate at a large multi-day event in Philadelphia. We were able to observe our inventory and keep top selling flavors in stock, cut down wait time for customers to processing every 32 seconds and reconcile our books easier at the end of the event,” said Andre Andrews of Dre’s Water Ice and Ice Cream in Philadelphia, PA. “We are excited to win the Visa Cashless Challenge and use the prize money to implement the same digital technologies used at the event into our store and better serve our customers.”

Visa received entries from across the United States and across a variety of food-service businesses, including coffee shops, food trucks, full-service and quick-service restaurants and juice bars. Winners were chosen based on video submissions that showed positive impact to employees, their businesses, as well as originality, creativity and passion.

“When we launched the Visa Cashless Challenge, we wanted to inspire and inform merchants on the benefits and effectiveness of going cashless,” said Jack Forestell, head of global product and solutions, Visa Inc. “Since announcing the challenge, we have continued to see businesses across the country go cash-free, and Visa is committed to tapping into our innovation and technology for merchants to remain competitively connected to their consumers.”

Momentum Continues Toward Cash-Free Future
Embracing digital payments can improve businesses bottom line and improve customer experiences, according to small business expert and author Melinda Emerson. In her new book, Fix Your Business, Emerson highlights the benefits of going cashless.

Small business owners across the country see true benefits in moving towards a world more reliant on digital payments,” said Emerson. “Whether it be reduced insurance costs, time saved not having to rectify drawers, or increased efficiency at the point of sale, going cash-free is a great way for small business owners to make their lives easier—something everybody needs.”

“We spend a lot of time counting and recounting cash. If time is money, cash is expensive,” said Phil Van Overeem of Doomie’s NextMex in Los Angeles.

Since the launch of the Visa Cashless Challenge in 2017, the restaurant segment has continued to embrace the move toward a cash-free future. Restaurants such as Dos Toros and Delaney Chicken have since transitioned to cashless environments.

To help businesses who are considering going cash-free, Visa will release research later this spring, which will look at digital transformation barriers and opportunities through understanding the ways U.S. consumers and small businesses conduct commerce, make/receive payments and the costs and benefits associated with these transactions.

“While we see a cash-free future on the horizon, we also realize the challenges that exist in making sure unbanked consumers have access to cashless payment methods and making sure the system is as inclusive as possible,” continues Forestell. “Visa is continuing to work with its partners on solutions that will help consumers and businesses prepare for the move towards a cashless future.”

For a full list of the Visa Cashless Challenge winners and how Visa is enabling the cashless movement, please visit www.visa.com/cashless.

Cashless Challenge Winners

Aburaya
Oakland, California

Alamar Kitchen
Oakland, California

Alli Mexican Cuisine
Austin, Texas

Bergerac
San Francisco, California

Bini’s Kitchen
San Francisco, California

Bombzie’s BBQ
San Francisco, California

Bright Yellow Creamery
Philadelphia, Pennsylvania

Burt’s BBQ Shak
Turlock, California

Capelo’s Hill Country BBQ
San Francisco, California

Caribbean Café
Chico, California

Carniceria Y Taqueria Karlita
Clovis, California

Chickie’s Wings
Greenville, Alabama

Cielito Lindo
San Francisco, California

Crisp
Portland, Oregon

Dorian
San Francisco, California

Dre’s Water Ice and Ice Cream
Philadelphia, Pennsylvania

Dum Truck
San Francisco, California

El Sur
San Francisco, California

Estudillo Produce and Deli
San Leandro, California

Fundamental LA
Los Angeles, California

Greenburgh’s BBQ
Claymont, Delaware

Gyro Stop
San Francisco, California

Island Shack
Philadelphia, Pennsylvania

Jeepney Guy
San Francisco, California

Korean Bobcha
San Francisco, California

Little Bee Baking
San Francisco, California

Little Green Cyclo
San Francisco, California

Mamacellas Pizza Station
Lima, Ohio

Masala Dosa
San Francisco, California

Mavens Creamery
San Jose, California

Doomie’s NextMex
Los Angeles, California

Novy
San Francisco, California

Olde Time Pastries
Turlock, California

Palm House
San Francisco, California

Peli Peli Kitchen
Houston, Texas

Polar Paw Shaved Ice
Bakersfield, California

Postrique
San Francisco, California

Project Pasta
San Jose, California

Protein Station Smoothies and Health Food
Seattle, Washington

Really Reel Ginger
Philadelphia, Pennsylvania

Senor Sisig
San Francisco, California

Shosho’s Kitchen
Cheltenham, Pennsylvania

Simo Pizza
New York, New York

Sol Cacao
New York, New York

Tai Chi Jianbing
San Francisco, California

The Hive Organic Café & Superfood Bar
Santa Monica, California

The Land of Kush
Baltimore, Maryland

The New Spot on Polk
San Francisco, California

The Shake and Smoothie Company
Portsmouth, Virginia

Waffle Roost
San Francisco, California

About Visa
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisavisacorporate.tumblr.com and @VisaNews.

29 March 2018