Instant Alert: Shake Shack is opening its first-ever location that won't accept cash

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   Shake Shack is opening its first-ever location that won't accept cash by Kate Taylor on Oct 2, 2017, 9:47 AM Advertisement Shake Shack is opening its first-ever cashless location.  The burger chain will open a cashless kiosk in New York City later in October, CNBC reported. Customers will order via phones or kiosks and then receive a text from the location when their order is ready for pickup.  Shake Shack CEO Randy Garutti told CNBC that the location will serve as a testing site to see if certain aspects of cashless ordering could be applied at other restaurants.  Shake Shack isn't the only chain exploring the potential of cashless payments. In January, the popular salad chain Sweetgreen transitioned to only accepting payments via its app or credit card. Going cashless tends to cut service time, as employees no longer have to spend time counting money. It also reduces the threat of theft and robbery.  However, cutting cash isn't without its own problems. Some customers may be confused by the new ordering methods. Further, about 7% of the US population doesn't have a bank account, meaning that they are automatically excluded from ordering at cashless locations.  SEE ALSO: A popular fast-casual chain is making an unprecedented move to stop accepting cash   Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011