News Details

Visa Awards 50 Small Businesses $10,000 as Winners of the Visa Cashless Challenge

March 29, 2018

Restaurant segment continues to embrace the move toward a cash-free future, including cashless recommendation in new Fix Your Business book.

SAN FRANCISCO--(BUSINESS WIRE)-- 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. Small business owners said some of the top reasons their businesses prefer cash-free payments include 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 small businesses become more digitally enabled, 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

El Sur

Peli Peli Kitchen

Oakland, California San Francisco, California Houston, Texas
 

Alamar Kitchen

Estudillo Produce and Deli

Polar Paw Shaved Ice

Oakland, California San Leandro, California Bakersfield, California
 

Alli Mexican Cuisine

Fundamental LA

Postrique

Austin, Texas Los Angeles, California San Francisco, California
 

Bergerac

Greenburgh’s BBQ

Project Pasta

San Francisco, California Claymont, Delaware San Jose, California
 

Bini’s Kitchen

Gyro Stop

Protein Station Smoothies and Health Food

San Francisco, California San Francisco, California Seattle, Washington
 

Bombzie’s BBQ

Island Shack

Really Reel Ginger

San Francisco, California Philadelphia, Pennsylvania Philadelphia, Pennsylvania
 

Bright Yellow Creamery

Jeepney Guy

Senor Sisig

Philadelphia, Pennsylvania San Francisco, California San Francisco, California
 

Burt’s BBQ Shak

Korean Bobcha

Shosho’s Kitchen

Turlock, California San Francisco, California Cheltenham, Pennsylvania
 

Capelo’s Hill Country BBQ

Little Bee Baking

Simo Pizza

San Francisco, California San Francisco, California New York, New York
 

Caribbean Café

Little Green Cyclo

Sol Cacao

Chico, California San Francisco, California New York, New York
 

Carniceria Y Taqueria Karlita

Mamacellas Pizza Station

Tai Chi Jianbing

Clovis, California Lima, Ohio San Francisco, California
 

Chickie’s Wings

Masala Dosa

The Hive Organic Café & Superfood Bar

Greenville, Alabama San Francisco, California Santa Monica, California
 

Cielito Lindo

Mavens Creamery

The Land of Kush

San Francisco, California San Jose, California Baltimore, Maryland
 

Crisp

Doomie’s NextMex

The New Spot on Polk

Portland, Oregon Los Angeles, California San Francisco, California
 

Dorian

Novy

The Shake and Smoothie Company

San Francisco, California San Francisco, California Portsmouth, Virginia
 

Dre’s Water Ice and Ice Cream

Olde Time Pastries

Waffle Roost

Philadelphia, Pennsylvania Turlock, California San Francisco, California
 

Dum Truck

Palm House

San Francisco, California 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.

Source: Visa Inc.

Visa Inc.

Andy Gerlt

agerlt@visa.com