Looks like Visa is trying to give major incentives to small businesses so they’ll no longer accept cash. According to a new press release, the credit card company is offering U.S. restaurants, cafés and food trucks up to $500000 to join their 100% cashless quest.
The company is calling it ”The Visa Cashless Challenge” and says they’re “aiming to create a culture where cash is no longer king.” In other words, customers will have no choice but to use credit cards or digital payments.
Not only that, but credit card companies charge processing fees and tack on other charges to businesses that accept their cards as payment.
“To Visa, a cashless culture means convenience- security and ease of use,” said Jack Forestell, Visa’s head of Global Merchant Solutions. Visa will also give $10,000 to restaurants that opt in to help pay for technology upgrades, according to CNN.
#Roommates, what do you think of this new cashless challenge?