Fast-casual restaurant Dos Toros is one of the latest chains to go cash-free.
Marketing manager Marcus Byrd said that the change saved the team time and that most customers didn’t even notice a difference.
“We found that 85 percent of customers use cards already at Dos Toros,” he said in a Cheddar interview. “And of those 15 percent that use cash, we only found that one percent could not go to Dos Toros.”
The company first went cashless in October and other chains such as Sweetgreen have made similar changes. One recent study finds that nearly two-thirds of smartphone users dole out cash sometimes, they prefer to use cards or mobile payments. Research firm eMarketer credits speed and convenience, safety, and rewards for the change.
Still, going all digital does come with disadvantages. Power outages or WiFi issues mean payments can’t be processed. And the “unbanked” population -- the estimated 7 percent of U.S. households without a bank account are excluded.
Byrd says that the company is focused on bringing in those consumers.
“We’re actually going to come out with an app next year, and we hope that there’s a location that can accept cash and turn that into money on your app or on a gift card, so that everybody can enjoy Dos Toros,” he said.
For the full interview [click here](https://cheddar.com/videos/dos-toros-goes-cashless).
Fintech pioneer Tom Sosnoff discusses the evolution of retail investing, the rise of AI, and his new platform Lossdog aimed at the next generation of trading.
The FAA prepares to select cities for its eVTOL pilot program, marking a major step toward electric air taxis and the future of urban air mobility in the U.S.
Rising oil prices tied to the Iran conflict are driving up gas and airfare costs, creating new challenges for travelers heading into the spring break season.
The Supreme Court strikes down Trump-era tariffs, limiting presidential trade powers and raising questions about refunds, global trade, and business impact.
New research from GoDaddy and UCLA shows small businesses signal shifts in GDP, jobs, and digital growth earlier than traditional data or Wall Street trends.
GoFundMe launches Back in Business Fund with Paris Hilton to provide targeted grants helping women entrepreneurs recover and rebuild after natural disasters.
Samsung launches its “AI in Action Lab” in NYC, giving public high school students hands-on AI experience and tools to prepare for real world innovations.
Gen Z workers are increasingly worried AI could replace their jobs. However, experts say companies are using AI more to assist workers than replace them.
