Manhattan Restaurant Stops Accepting Cash

In a previous newsletter, I talked about several restaurants that were offering up to 20% discounts to customers paying by cash. Now, we have a Manhattan restaurant in Greenwich Village that stopped accepting cash.

If you’re not using a credit card, take your business elsewhere. According to the restaurant, 90% of their customers already pay by credit card. People use their credit cards to pay for a taxi ride and contribute to the Salvation Army. According to Commerce Restaurant, if you don’t have a credit or debit card, you probably don’t have a checking account and probably shouldn’t be eating at the Commerce Restaurant. Tony Zazula, the owner is a veteran restaurateur with an M.B.A. from Cornell University.

According to the owner, credit cards only, mean no more armored trucks to deposit cash in the bank and possibly less scrutiny by the I.R.S.

It’s a pretty interesting concept and the restaurant has surely received lots of publicity including an article in the Wall Street Journal. See it at:

http://online.wsj.com/article/SB125260838282300453.html?mod=dist_smartbrief

Let me know your thoughts or email me at ray@tampabaymerchantservices.com