Will Paying With Actual Money Soon Become a Thing of the Past?

Why businesses are embracing the cashless trend, and what's at stake when they do

The cashless movement is largely coastal and urban, and confined to restaurants and takeout places, at least for now. Illustration: Miguel Montaner

In his nearly 30 years in the restaurant business, having done every job from waiter to regional director, Michael Ryan has learned a good deal about running a profitable house. His operational savvy helped make a success of legendary New York City names like Shaw’s Crab House and Blue Water Grill. Meanwhile, his watchful eye took note of many liabilities: the time it took to count the register drawers at night, for example, or the fivers and ten spots that would sometimes disappear into employees’ pockets as they worked behind the bar.

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This story first appeared in the Feb. 4, 2019, issue of Adweek magazine. Click here to subscribe.
@UpperEastRob robert.klara@adweek.com Robert Klara is a senior editor, brands at Adweek, where he specializes in covering the evolution and impact of brands.