Word: coinless
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...summer's end, so companies such as 7-Eleven and Arby's franchiser Bailey Co. are blink-enabling their payment systems, beginning in Colorado-area stores; 7-Eleven's 5,300 U.S. stores will be enabled by next year, says Rick Updyke, V.P. of business development. And perennially coinless drivers in Coral Gables, Fla., can register online with Toronto-based PayMint and pay the city's 4,600 parking meters by cell phone. Parkers dial a toll-free number, log in, enter their lot number and log out after parking. (Of the current 850 users, 10% have agreed...
These days it looks as though more Americans than ever are willing to let go. They are traveling through coinless tollbooths, banking at branchless banks, riding in tokenless subways and paying for everything from taxi rides to mortgages with the swipe of a card or the blip of an electronic transfer. Such transactions accounted for 18% of the $55 trillion total that consumers, corporations and governments spent last year. But the number of electronic transfers has increased nearly 200% since 1986, in contrast to a 17% rise in the number of check and cash transactions. And the volume of household...
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