Even today, as mobile and e-commerce payment options flood the market, few companies are willing to do away with cash acceptance. But a handful of brands have launched cashless locations, taking a bold step into a future where cash is no longer king.
This listicle is compiled from reporting by PaymentsSource writers including John Adams, Kate Fitzgerald and Nick Holland. Click the links in each item to read more.
Sweetgreen and the credit card diet
Not all diets last, but this one did. In 2017, Sweetgreen, which operates 64 fast-casual salad eateries, went fully cashless.
“Getting rid of cash improved efficiency, cut operating costs around transporting cash to the bank and we promoted it as environmentally friendly," said Theresa Dold, who was Sweetgreen’s director of product until she joined mobile payments firm LevelUp in mid-2017 as vice president of agency strategy.
At the time the cash ban went into effect, just 10% of Sweetgreen's sales were handled in cash. A year earlier, the company tested the cashless concept in six locations — resulting in a 10% boost to service speed.