The future — for cash! Especially if Visa has something to add to this.
The company encourages restaurants to completely abandon cash and Visa launches Cashless Challenge. Prize — $10,000.
«At Visa we believe that you can go to any place you wish. And you should have the ability to easily pay and receive money through mobile phones, credit cards and any other devices.
70% of the world’s population use mobile devices. We have an incredible opportunity to tell the sellers and customers about the effectiveness of cashless payment.»
Visa will distribute $500,000 fifty small restaurants, cafes and mobile eateries that will be able to do the job Visa Cashless Challenge.
Many sellers have already moved exclusively to cashless payments. Sweetgreen and some other chain restaurants by Danny Meyer’s Union Square Hospitality Group does not take cash. They can pay only using credit and debit cards, the system ApplePay and other forms of mobile payment.
Digital payments can radically change the conduct of business around the world. In particular, in the developing world where the financial system is not as rigid as new technologies faster enter circulation.
However, with the full implementation of cashless payment are coming and concerns that low-income people who rely more on cash, will remain «outside» of the customer base.
In this project, Visa is betting on small business owners in the United States. It’s an easy way for small businesses to $10 000 — but only if your customers do not pay cash.
