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.
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Cashless Challenge Winners
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Aburaya
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El
Sur
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Peli
Peli Kitchen
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Oakland, California
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San Francisco, California
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Houston, Texas
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Alamar
Kitchen
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Estudillo
Produce and Deli
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Polar
Paw Shaved Ice
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Oakland, California
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San Leandro, California
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Bakersfield, California
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Alli
Mexican Cuisine
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Fundamental
LA
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Postrique
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Austin, Texas
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Los Angeles, California
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San Francisco, California
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Bergerac
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Greenburgh’s
BBQ
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Project
Pasta
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San Francisco, California
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Claymont, Delaware
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San Jose, California
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Bini’s
Kitchen
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Gyro
Stop
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Protein
Station Smoothies and Health Food
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San Francisco, California
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San Francisco, California
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Seattle, Washington
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Bombzie’s
BBQ
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Island
Shack
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Really
Reel Ginger
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San Francisco, California
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Philadelphia, Pennsylvania
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Philadelphia, Pennsylvania
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Bright
Yellow Creamery
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Jeepney
Guy
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Senor
Sisig
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Philadelphia, Pennsylvania
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San Francisco, California
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San Francisco, California
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Burt’s
BBQ Shak
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Korean
Bobcha
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Shosho’s
Kitchen
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Turlock, California
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San Francisco, California
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Cheltenham, Pennsylvania
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Capelo’s
Hill Country BBQ
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Little
Bee Baking
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Simo
Pizza
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San Francisco, California
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San Francisco, California
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New York, New York
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Caribbean
Café
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Little
Green Cyclo
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Sol
Cacao
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Chico, California
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San Francisco, California
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New York, New York
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Carniceria
Y Taqueria Karlita
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Mamacellas
Pizza Station
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Tai
Chi Jianbing
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Clovis, California
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Lima, Ohio
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San Francisco, California
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Chickie’s Wings
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Masala
Dosa
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The
Hive Organic Café & Superfood Bar
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Greenville, Alabama
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San Francisco, California
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Santa Monica, California
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Cielito
Lindo
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Mavens
Creamery
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The
Land of Kush
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San Francisco, California
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San Jose, California
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Baltimore, Maryland
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Crisp
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Doomie’s
NextMex
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The
New Spot on Polk
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Portland, Oregon
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Los Angeles, California
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San Francisco, California
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Dorian
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Novy
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The
Shake and Smoothie Company
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San Francisco, California
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San Francisco, California
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Portsmouth, Virginia
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Dre’s
Water Ice and Ice Cream
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Olde
Time Pastries
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Waffle
Roost
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Philadelphia, Pennsylvania
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Turlock, California
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San Francisco, California
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Dum
Truck
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Palm
House
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San Francisco, California
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San Francisco, California
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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/aboutvisa, visacorporate.tumblr.com and @VisaNews.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180329005255/en/
Source: Visa Inc.