Philadelphia Outlaws Cashless: What it Means to You
May 1, 2019In early March, Philadelphia became the first city in the U.S. to forbid restaurants from refusing cash payments. As of July 1, all Philadelphia restaurants will have to accept cash payments and cannot charge cash-paying customers more than non-cash ones. Several other cities and states are considering similar rules.
What’s going on? Does it matter to you as a Little Rock restaurant owner and manager focused equipment for the restaurant?
It certainly does, especially if the initiative spreads into our area. Here’s what you need to know.
Why Restaurants Go Cashless
Restaurants choose to go cashless for two reasons: efficiency and security. When you don’t accept cash payments, you can process transactions much more quickly in any establishment. This is especially important to quick service, fast food, and coffee shops.
No one wants a long line waiting for service, and by offering only cashless transactions you can significantly speed up how quickly everything moves.
In addition, cashless transactions help with store and restaurant security. When there’s no cash on site because cash is not accepted, there is no reason for anyone to rob the store.
Restaurant owners enjoy that the equipment for the restaurant can be simplified when you don’t need safes, cash drawers, and other cash-related supplies.
Why Philadelphia Outlawed Cashless
So if it’s both more efficient and faster, why would a major city outlaw businesses going cashless? The answer is related to the fact that a certain percentage of people are “unbanked,” or don’t have access to a bank or credit account.
If businesses and restaurants don’t accept cash, they are excluding these folks from the local economy. This is seen as unfair discrimination against those who don’t or can’t, use traditional banking services. They need eateries to have equipment for the restaurant that allow cash payments.
The pushback against cashless businesses was started by advocates for the unbanked, but many say that Philadelphia’s rules don’t go far enough because there are still exclusions. For instance, parking lots and garages, large membership stores like Sam’s Club, and retailers that accept mobile payments can all refuse to accept cash payments.
What This Means for Your Little Rock Restaurant
Neither Little Rock nor Arkansas have introduced an initiative regarding cashless businesses. However, many eyes are watching the outcome of the Philadelphia ban and other similar laws. If the movement becomes widespread, you may face difficult decisions about this in the future.
Maybe you are perfectly comfortable accepting cash now, but technology is moving quickly and you may find yourself relying on equipment for the restaurant that is primarily cashless in the future. Or, perhaps you are already eying cashless tech in the hopes of cutting costs and improving safety.
Either way, knowing the trends around cashless nationwide can directly impact your business.
Get the Equipment for the Restaurant That You Need
Are you looking for additional equipment for your restaurant? From cooking equipment to smallwares, there always seems to be something you need. Fortunately, you can work with a local supplier who can help you source everything you need.
No matter what equipment for the restaurant you’re looking for right now, let us help you. Contact us today for availability and pricing!
Don’t Buy a Commercial Refrigerator Before Considering These 4 Things
A commercial refrigerator is an equipment staple of every restaurant. There are several things to consider when acquiring a commercial refrigerator for your kitchen. When searching for the correct type of unit, here are four things to consider to help you choose the...
5 Ways to Get the Most out of Your Dishwasher
Dishwashers are an incredibly helpful timesaver, and in the fast-paced restaurant industry, staff and managers are desperate for even a small amount of extra time. Although simply putting dishes into a machine seems simple, if your dishwasher is not well-maintained...
How to Keep Having Fun while Running your Restaurant
Restaurant owners typically have a passion for cuisine. Opening and running a restaurant is exciting, providing the opportunity to fully explore and develop your vision. However, if you have been in the restaurant business for any length of time, you know that it is...
3 Great Reasons to Maintain Your Restaurant Equipment
As the owner of a restaurant, you want a healthy and clean business. In the hustle of everyday restaurant management, it can be easy to forget to take care of issues that don’t seem as pressing as the customer complaining that they got the wrong order or that their...
Avoid Surprises During an Appraisal of Your Restaurant Equipment
When it comes to time for your restaurant equipment to be appraised, confusion can set in. For the purpose of the appraisal, personal goods are given value, but goods that are classified as ‘real goods’ are considered part of the real estate or the building structure...
Essentials of Cleaning and Preventative Maintenance for Your Restaurant Equipment
When it comes to your restaurant equipment, regular cleaning and maintenance is essential for making sure your equipment lasts for years to come. And it isn’t simply a matter of making your food processors and commercial mixers more efficient. There are considerable...
3 Tips for Maintaining Your Commercial Oven
As a restaurant owner, buying a commercial oven is an enormous investment. You will desperately want this oven to work properly and you need to make sure it does. You are responsible for your restaurant business. But what if your commercial oven stops working on the...
5 Steps to Cutting Food Waste from Your Kitchen
Food waste is a problem around the world. Taking steps to prevent food waste in your kitchen doesn’t just make your restaurant more morally strong; it can also help you save money on ingredients and attract more customers. Here are some steps you can take to reduce...
Planning Your Equipment Needs When Your Restaurant is Expanding
Your restaurant is doing great, guests are coming in, and they’re spreading the word about the culinary masterpieces your restaurant offers, as well as the exceptional service that is provided by the kitchen equipment and staff. But with all the new business, you’ve...
How to Keep Cool in the Restaurant Kitchen
Being in the kitchen, it’s hard not to feel overheated, especially during the summer. The heat of the stoves and ovens will quickly make the restaurant kitchen somewhere you don’t want to be. How do you keep cool in the kitchen? We have brought together some of the...
How and Why to Make Your Restaurant Lead-Free
If you own a restaurant, then you already know how important water is to your operations, and that poor water quality can adversely impact the success of your business. That is why you should ensure a restaurant lead-free environment. Water is an integral part of all...
Can You Handle These 5 Types of Difficult Restaurant Customers?
No matter how much you love it, running a restaurant certainly has its challenges. It is time-consuming, hectic, labor-intensive and competitive. And to cap it all, there are the difficult restaurant customers you often have to deal with. It’s impossible to please...
5 Unique Restaurant Concepts Guaranteed to Thrill Diners
With restaurants on almost every block, having a unique restaurant concept can help set you apart, making your establishment stand out. These concepts may have taken a bit to catch on, but they have quickly become popular sellers. Here are 5 unique restaurant concepts...
How to Run an Energy-Efficient Restaurant
You probably don’t need to be reminded of the high cost of electricity in running a restaurant compared to an energy-efficient restaurant. Right now, many establishments, including restaurants, are going green and adopting eco-friendly strategies to conserve...
Tipping: A Restaurant Controversy
When it comes to tipping or no-tipping policies in restaurants, there are strong feelings on both sides. While many restaurants have implemented no tipping policies, others are strong proponents for tipping. Still others aren’t sure which policy is right for their...