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).
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
