{"id":11521,"date":"2017-09-18T12:00:38","date_gmt":"2017-09-18T18:00:38","guid":{"rendered":"http:\/\/www.coolchecks.net\/blog\/?p=11521"},"modified":"2017-09-15T14:31:12","modified_gmt":"2017-09-15T20:31:12","slug":"helping-small-businesses-go-cashless","status":"publish","type":"post","link":"https:\/\/www.coolchecks.net\/blog\/business-2\/helping-small-businesses-go-cashless.html","title":{"rendered":"Helping Small Businesses Go Cashless"},"content":{"rendered":"

\"Small<\/a>
“We’re declaring a war on cash”<\/figcaption><\/figure>There are advantages to small businesses, particularly restaurants and food sellers in going cashless. Visa has undertaken a project to help them in the process, providing $10,000 each of 50 American businesses that are willing to commit to converting to digital payment technology. <\/p>\n

\u201cWe\u2019re declaring war on cash,\u201d said Visa spokesman Andy Gerit.<\/p>\n

After assessing the results of the first year of the program, Visa representatives said the company expects to expand the program into other industries and countries.<\/p>\n

Cash is still king in many industries around the world, despite the proliferation of credit and debit cards. To make the transition to cashless, it is necessary to upgrade their current point-of-sale systems, which hampers some small businesses that want to make the change. <\/p>\n

That\u2019s where Visa\u2019s offer of assistance steps in. The businesses that are considering the shift to a cashless environment have to assess how they currently use cash, what effect a change would have on customers and how workers would be trained to make the transition. <\/p>\n

Visa\u2019 contribution could be used to upgrade point-of-sale equipment or toward marketing and other efforts to promote their small businesses. <\/p>\n

Obviously, Visa stands to benefit over the long haul. The company already is the world\u2019s largest processor of credit and debit cards. It charges a small fee from every payment it processes. The more companies that convert to cashless business practices, the more Visa stands to profit.<\/p>\n

Visa\u2019s promotion is based on information from a study conducted recently that calculated the effects if the businesses in100 American cities converted to cashless. The prediction was that the net benefit to those cities would total some $312 billion per year. The benefits would come through savings in labor costs. New York City alone could save more than 186 million hours in labor, the study suggested.<\/p>\n

Later this year Visa says it will release a report titled \u201cCashless Cities: Realizing the Benefits of Digital Payments\u201d to summarize the effects of the project. <\/p>\n","protected":false},"excerpt":{"rendered":"

There are advantages to small businesses, particularly restaurants and food sellers in going cashless. Visa has undertaken a project to help them in the process, providing $10,000 each of 50 American businesses that are willing to commit to converting to digital payment technology. \u201cWe\u2019re declaring war on cash,\u201d said Visa spokesman Andy Gerit. After assessing […]<\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[557,635],"tags":[],"_links":{"self":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11521"}],"collection":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/comments?post=11521"}],"version-history":[{"count":0,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11521\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/media?parent=11521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/categories?post=11521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/tags?post=11521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}