Mo (paper) money mo problems; just like The Notorious B.I.G., we are finding this to be true. Thus, our new cashless initiative is testing the waters in what it would be like to ultimately get rid of paper money and all that accompanies it, including: a whole lot of bacteria, the increased threat of robbery or theft and longer transaction times. With the potential transition into a full on digital society looming in our not-too-distant future, as we’ve seen take place in India already (more on this below), we’re getting on the band wagon to simplify and want to inform our customers exactly why we are doing so.
Business Insider recently published an article, written by Stephen McBride, entitled “India Might Be First Cashless Society.” Here they explore Prime Minister Modi’s cash ban which took place earlier this year, which is being called the action that forced everyone into a new digital system, “India Stack” or Aadhaar, which could also fast track the move to digital payment systems across the developed world and mark the end of cash altogether. Many are saying if this can happen in India, where just 2% of transactions were non-cash just a few years ago, then it can happen anywhere. So, we prepare.
Not only in the effort to keep up with the modern world, we are also going cashless for cleanliness reasons. After all, we are a business surrounding food. Paper money can reportedly carry more germs than a household toilet (I know, eek!). Bills are usually full of bacteria that can spread easily through their exchanges, especially when handled by those with weakened immune systems. Cutting out the use of cash has also proved in like-minded businesses to speed up service by 10%, creating more efficiency at the register and enabling customers to get their products faster. Lastly, by cutting out the presence of paper money the threat of theft and robbery is greatly reduced. In return, our employees are able to feel safer and go about their work with less worry.
Overall, we believe going cashless will improve our service. Hoping this won’t even affect too many customers, as less than 10% of sales are usually made up by cash transactions anyway, we want to move forward in the effort to create a cleaner, safer and more efficient community. As always, experiments like this one come with pros and cons, and we always encourage feedback! We are confident that taking this next step will truly be more beneficial across the board and keep our passion for transparency and wellness alive and well.