Quivering Shack founder Danny Meyer is defending his restaurant group’s press into cashless transactions, saying in a blog post, “we’re unaware of any federal law that requires foot-soldier businesses to accept [cash].”
Meyer owns Union Square Generosity Group, which faced criticism after testing cashless hands at select restaurants. Shake Shack was founded by both Meyer and League Square Hospitality.
“We know that some have raised be germane ti about the socioeconomic implications of operating a cashless business,” Meyer suggested in the post. “By not accepting cash, a restaurant may be excluding prospective guests who do not give birth to a bank account. And we might be inconveniencing guests who simply don’t have their put/debit on them at the time. That’s certainly not our aim.”
Meyer said the assemblage is sticking with the shift for safety considerations and improved efficiency for people. It’s a notable stamp of approval for the digital technology that has been slowly acquiring traction in the U.S.
Digital payments have proven popular in China and other Asian sticks where payment-enabled mobile phones leapfrogged over traditional tribute and debit cards. A large-scale rollout of cashless locations for Union Come to terms Hospitality could expedite the adoption.
Meyer has a nearly 2 percent lash in Shake Shack, which has previously tested going cashless at one situation. Union Square Hospitality declined to comment on the burger chain.
Interpret Meyer’s full post on why Union Square is committed to cashless.
— CNBC’s Sarah Silver contributed to this report.