Tony Zazula, owner of New York City eatery Commerce, decided to go cashless in 2009. The Huffington? Post recently caught up with the restaurant owner to discuss the move in light of the credit card terminal now reigning supreme in the business.
The increased use of credit card terminals to process payments has translated into a small increase in fees, but Zazula claimed that even before the change, most of his patrons were pulling out their plastic.
“Somewhere between 85 and 90 percent of revenue was coming through credit cards already,” Zazula said. “So to have two systems, and to have 10 percent be so burdensome to reconcile, and to go to the bank every day and to have several different cash registers in the restaurants just didn’t make any sense.”
Convenience, Zazula told the news source, was a big factor in removing the option to pay in cash, and he has seen a reduction in logistical issues. He also felt that the restaurant now seems cleaner and more exclusive, which may be attractive to some guests.
According to data provided to the Huffington? Post by Visa, 93 percent of full-serve restaurants take credit and debit cards. In 2012, 81 percent of purchases at establishments like this were made with a credit, debit or prepaid reward card. At fast food establishments, 37 percent of purchases were charged, but many of these types of locations have only been accepting card payments since the early 2000s.
New York isn’t the only place where cashless restaurants are enjoying success. Wired Magazine reported that San Francisco sandwich shops Split Bread and The Melt only accept credit and mobile payments as well.
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