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When Amazon began opening its Go stores, the company’s main point of differentiation was that they were a “cashless” convenience store. Customers entered Amazon Go stores by scanning the app, which is linked to a credit card or Amazon account. To check out, customers just rang up their own items. The company had big plans to open up 3,000 locations by 2021 , but recently faced complications. Earlier this year, major cities like Philadelphia and New York began banning cashless stores. Although an Amazon spokesperson tried swaying Philadelphia’s decision by saying a Go store wouldn’t open there if the bill went through, Philadelphia passed it anyway . Now, Amazon has opened its first Go store in New York City — and they’re taking cash. Customers using cash are swiped in by an Amazon employee, who scans items with a mobile device to check them out, Business Insider reported . However, there’s still no cash registers inside the store. Bans over cashless stores may seem frivolous, but...
The fight against cashless stores has been on the rise as cities like Philadelphia pass legislation to ban them. The push to ban cashless stores is a problem for Amazon Go locations, which are centered around having no cashiers or checkout lines. An Amazon spokesperson reportedly tried swaying Philadelphia’s decision by saying a Go store wouldn’t open there if the bill passed. Obviously, the tactic didn’t work. Now, it seems Amazon executives are aware they’re fighting a losing battle. According to CNBC , Steve Kessel, Amazon’s senior vice president of physical stores, told employees that the company is planning “additional payment mechanisms” at its Go stores. The outlet reported that was in response to a question about how Amazon plans to address “discrimination and elitism” within its stores. Supporters of cashless stores have argued that it’s just modernization. However, cashless bans aren’t making stores only accept cash. All they’re doing is making sure everyone has the option...
Bans on cashless stores are popping up across the country as officials begin to weigh how they exclude certain groups of people from shopping at certain stores. Now, San Francisco may be joining a host of other cities in passing similar legislation, but this time it could include Amazon Go Stores. Last month, San Francisco’s District Five Supervisor Vallie Brown introduced a bill requiring “brick-and-mortar” businesses to accept cash. The original bill excluded Amazon Go stores because there aren’t any employees present to take cash. However, Brown expanded the proposal to include Amazon’s stores on Tuesday. This is a bold move because Amazon isn’t the most graceful when it comes to the government trying to regulate its business practices. This was apparent when Seattle tried to propose a tax on big businesses to help the homeless. This was also seen in Philadelphia, where a public fight between Amazon and city officials occurred after a bill was approved to ban stores from not...
Philadelphia has become the first U.S. city to ban cashless stores, as reported by The Wall Street Journal . The law will take effect in July, but there are some exceptions. According to The Wall Street Journal, it won’t apply to parking garages or lots, businesses like Costco that sell through a membership model, rental-car companies, or hotels since they often require credit-card deposits for accidents. This decision comes as debates around cashless stores are taking place across the country . In New York City, councilman Ritchie Torres has introduced a similar bill , citing concerns for “New Yorkers who face historically rooted barriers to both credit and banking”, as he told The New York Times . Similar concerns are what prompted the decision in Philadelphia. Although some see the law as going against “modernization”, the reality is not everyone has access to cashless payment options. Philadelphia Mayor Jim Kenney’s spokesman told The Wall Street Journal that 26% of...
Houston, TX is said to be welcoming its first Black-owned supermarket, and it’s called the District Market! According to FOX26, the Black-owned District Market Green Grocer opened its doors during the holiday weekend after Robert Thomas decided to shift the narrative when the pandemic put a wrench in the plans of his original business. Originally operating as District 1960 Nightclub, Thomas owned and operated the nightclub for five years before the COVID-19 pandemic put a damper on the business. Instead of leaving his life as an entrepreneur completely, he decided to use his passion for nutrition to create a grocery store that is made with the Black community in mind.
With the COVID-19 crisis keeping us bound to the confines of our homes for months, and the world slowly reopening little by little, news of Squire Technologies’ Series B could not have come at a better time. Squire is a Black-owned scheduling, point-of-sale, and management app created for barbers and male groomers. With Squire, barbers can manage waitlists, set up loyalty programs, have their customers book and pay for services, and much more. Plus, all transactions are contactless and cashless, which is a major advantage in a post-pandemic society. In an announcement made on June 9, 2020, Squire has raised $34 million in Series B funding led by CRV, with participation from Tiger Global, San Francisco 49ers organization, and the former CEO and Chairman of Infor, Charles Phillips. In June 2019, Squire raised $8 million in a round of Series A funding led by Trinity Ventures, bringing their total funding at the time to $12.2 million. The tech startup can now proudly say they have...
Founder of Red Bay Coffee, Keba Konte , is no newbie to innovation. In 2014, the San Francisco native combined his passion for photographic journalism and coffee to create a Coffee Dojo that simultaneously served as the headquarters of Red Bay Coffee and a daily art exhibit that showcased his photography. With such creative ingenuity, it’s no surprise that Konte honed his entrepreneurial acumen when the COVID-19 pandemic hit hard. Due to coronavirus, Forbes reports Red Bay Coffee’s retail stores had to shut down resulting in an 85 percent decline in sales and a drastic reduction in his workforce. Now, that some of his six retail locations are reopened, he says the decline is only about 40 percent. However, according to Forbes , the Oakland, California coffee hub has seen a 350 percent increase in e-commerce sales since the start of the pandemic. Before the stay-at-home regulations, Red Bay Coffee’s supermarket sales from Whole Foods and Safeway made up 17 percent of overall sales....
Step — the FinTech startup helping families give their teenagers financial freedom — just closed its $22.5 million Series A funding round with the help of Will Smith’s Dreamers Fund and rapper, Nas. The funding round was ultimately led by Stripe, the payments software company; however, Crosslink Capital and Collaborative Fund also contributed. “The response from consumers after our launch has been both exciting and overwhelming,”Step CEO, CJ MacDonald, said. “In full transparency, we were not set up for or expecting the response that we received.” Photo: Step Step provides no-fee banking services to teenagers who are growing up in an increasingly cashless world. The company is also partnering with Mastercard, Evolve Bank & Trust and Stripe to create a debit card for teens and an app for families. Step’s bank accounts are securely held, and FDIC insured through Evolve Bank & Trust. “Our goal for this round is to invest in people, technology and product to bring our vision to life,”...
Google wants to close the gap for Android customers in emerging markets who may not be able to purchase apps with credit cards. The company announced during it’s Google I/O conference this week that it is letting customers complete app purchases with cash in some of their participating stores. The company has been expanding its payment offerings to include carrier billing partnerships and eWallets. Google’s new payment method for apps will come in the form of “pending transactions.” Users choose the alternative payment method at checkout when buying an app or making an in-app purchase. Then they are sent a code. Customers can then take the code to any local participating store. “This is a new class of delayed form of payment – like cash, bank transfer and direct debit,” Google Director of Engineering Aurash Mahbod, said to a crowd during the Google I/O conference. Customers won’t receive cash back for refunds. Instead, they will receive a credit on their accounts if they want their...
Across the country, a few states are considering new legislation that would force stores and restaurants to do the most basic of things: take your cash. In December of 2018, the New Jersey Legislature passed a bill requiring all “brick-and-mortar retailers ” to take cash. The synopsis of their bill was pretty simple: “prohibits discrimination against cash-paying customers.” N ot too long after, the Philadelphia City Council approved their own bill banning cashless stores . Now, Chicago, New York City, San Francisco, and Washington are all looking at similar bills tackling “cashless” payments, as reported by The New York Times. The popularity of using cashless payment options, like cards or even your phones, has risen as people say it’s convenient and quick. However, there’s a big difference between personal choice and forcing somebody into it. For many, stores that require cashless payment options immediately become inaccessible. “It’s important to recognize the fact that not...