Free 2019 Report & eBook
Get the top 100 trends happening right NOW -- plus a FREE copy of our award-winning book.
Our Research Methodology
This article is one of 350,000 experiments. We use crowd filtering, big data and AI to identify insights.
London’s Globally Local Vegan Drive Thru is Now a Cashless Restaurant
Globally Local introduced the world's first 24-hour vegan drive thru and has recently become a cashless restaurant. The change was implemented last February and has resulted in phasing out cashiers completely from the restaurant. The self-checkouts accept debit, MasterCard and Visa and will decrease the prices and increase efficiency. Cashless restaurants also increase safety for workers by discouraging robberies.
From a business perspective, this makes fiscal sense, however experts agree going cashless encourages more spending as "it’s psychologically more painful to pay in cash," Rod Duclos, a specialist in behavioral psychology, stated. Globally Local understands this may deter a sector of consumers and will accept cash with managers present. These consumers are in the minority, and experts predict that cash use in the next ten years will decrease to 10% of all transactions.
As paying electronically becomes increasingly easier with features like Apple Pay and Tap, cashless restaurants may become the norm in the future.
Image credit: Andrew Graham, 980 CFPL
From a business perspective, this makes fiscal sense, however experts agree going cashless encourages more spending as "it’s psychologically more painful to pay in cash," Rod Duclos, a specialist in behavioral psychology, stated. Globally Local understands this may deter a sector of consumers and will accept cash with managers present. These consumers are in the minority, and experts predict that cash use in the next ten years will decrease to 10% of all transactions.
As paying electronically becomes increasingly easier with features like Apple Pay and Tap, cashless restaurants may become the norm in the future.
Image credit: Andrew Graham, 980 CFPL
