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Category: Small Business / Business, Economics and Finance / Community and Society / Lifestyle

Cashless cafe out to prove model more efficient way to run business

Monday, 4 Jul 2016 13:20:22 | Allyson Horn

Customer uses a paywave credit card in store (AAP: David Crosling)

Allowing customers to only pay using bank cards and mobile phone apps is a cheaper and efficient way of doing business, the owner of a new cafe says.

Pablo & Rusty's Coffee Roasters owner Saxon Wright said his new cashless Brisbane CBD cafe, one of the first of its kind in Australia, was the way of future.

"We just were looking at the problems in running a cafe, and cash just came up as one of the biggest headaches," he said.

"So we thought, 'what if we didn't have it?'"

Mr Wright said the model had been popular with customers.

"I think it's going to become a cashless and even wallet-less society in time," he said.

"So we just wanted to take a step towards that and show other businesses that it's possible to do it."

Mr Wright said it was also a more efficient way of running the business.

"In terms of cash, you don't have errors at the till, you don't have cashing off at the end of the day, so the time to pack up at the end is much less, trips to the bank, risk of theft," he said.

"And also with insurance, because we don't have cash on the premises, it's probably 15 to 20 per cent off."

'Many businesses already have this technology in place'

Queensland University of Technology business analyst Dr Edwina Luck said many people would find the cashless option more convenient.

"A cashless society is just around the corner," she said.

"The benefits are time, safety, convenience, sustainability and cost saving."

Dr Luck predicted more businesses would take up the cashless option - but warned not everyone would be ready to make the change.

"Many businesses already have this technology in place," she said.

"It's about whether they want to take away the cash facility and in the short term, I suspect some won't."

Australia's first cashless cafe Pablo and Rusty Photo: Cashless business will be more convenient for some people, a QUT business analyst says.
(Supplied: Pablo and Rusty)

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