American Consequences - August 2019

much easier than digging through my wallet or keeping track of loose pocket change. Mobile payments are still relatively new in the U.S. But as I’ll share today, that’s starting to change. And a surprising example shows this lucrative trend could take over sooner than you think... I live in a small town outside of Jacksonville, Florida, with a population of less than 13,000. And yet, I can still pay for coffee at the local Starbucks with my smartphone. The foundation for mobile payments has already been laid... Tech giants like Amazon, Apple, and others are all trying to get consumers to move to a more cashless society right now.

Interestingly, if you want to see a good example of what this means down the road, look no further than China... For a visitor, walking into a restaurant in China might feel like stepping into the future. In some places, you won’t see any cashiers or servers. No cash changes hands. And you certainly won’t find any paper receipts. My friend and colleague Dr. Steve Sjuggerud just returned from one of his many trips to China. And it was a trip from a few years ago that first inspired him to break this story. Here’s what he told investors in 2017... I wouldn’t have believed in this “cashless society” idea if I hadn’t seen it firsthand.

American Consequences


Made with FlippingBook flipbook maker