What’s up everybody? It’s Justin Live from B2B Vault, the Payment Technology Podcast sponsored by Nationwide Payment Systems, hosted by Allen Kopelman, and we’ll be providing you educational information about small business FinTech, payment processing, and the technology business. Are using in the world today, and in today’s podcast it’s titled Cash versus Cashless.
Um, it’s been a lot of disputes or, you know, going back and forth about the cashless society, uh, whether people are looking to stop using cash. Will we stop using cash or business is gonna stop accepting cash. I myself, uh, I don’t use cash a lot, but I still use cash and I don’t think that businesses are gonna be going to cashless anytime soon.
The numbers behind that statement, you know, they, they, they agree, they’re, they’re, they’re saying that people still spend lots and lots and lots of cash. Uh, so yeah, I. Let’s top into it cash versus cashless. What you got. So is cash still king? I agree. So I say cash is still king and I’ll give you some. So looked up some, some things.
There’s 1.7, Excuse me, I typed her trillion in circulation. Yeah, like that’s not enough. Right. 7.1 trillion in circulation. It says the average American spends like $165 a day, but that’s like all your bills. So that’s a lot of spending. And it says, for cash, 5% of Americans polled in a poll, right? Use cash for all purposes.
8% said they used cash for most purchase. 13% said they use it for half of their purchases. 49. So that’s half the people. Let’s just say use it sometimes. So that means that people are still using cash. 11%. Never use cash, right? Never use of your life. , the 11% of you that said that, you’re just a liar. I mean, I don’t believe you.
I don’t believe you at all. Not right. Well, they’re not tipping anybody, that’s for sure. Like right, Someone’s taking your bags at a hotel. It’s there. You know, it’s difficult to get away from cash because especially when you have tipped employees, you know, and somebody’s gonna get a tip. Sometimes I feel bad, like once I was at a hotel, this guy.
You know, carry all my stuff in. Mm-hmm. , there was a lot of bags. I was going to a convention, so we had the booth with us and all that, and I didn’t have any cash on me. So later I went to the atm, went back, found the guy who helped me, gave him money, gave him some money, cuz I felt bad. Like, you know, so, you know, you, you know, it’s just, you don’t think about it sometimes.
Like, Oh, do I need some cash? But she always carry some cash with you. So then I wanted to see like how many ATMs are in the united. It’s a lot. So 480,000 and you know, that’s probably an old number. So approximately 200,000 are bank owned. The other. , let’s say about 300,000 are independently owned. So that’s, you know, bank owned means like you go to the bank at Bank of America, Wells Fargo, Chase, wherever you bank, they have an ATM at the bank.
Sometimes those companies put banks like in a mall, right? Mm-hmm. , where they put their advertising and then they’re like, let’s say they have, um, I bank it Trus, so let’s just say. There’s, uh, truest sponsors the mall, right? And you go there, they have a truest ATM in the mall, right? You don’t pay fees on your own when you use your own bank.
So it said, I wanted to look up like what banks had the most ATMs. So Bank of America, 16,000 ATMs. Wells far, you know, over 12 Wells Fargo, 12,000 Truist has over 9,000 at. That’s probably like a little bit low cuz they merged, uh, bb and t SunTrust. And some other few other smaller regional banks into Trus.
So there’s a lot of ATM machines, but you know, also independent ATMs are growing because a lot of banks are finding that, you know, they have to go digital, so open the bank account online. Right, right. And some of them are finding it very difficult to open up, like personal accounts is easy. Mm-hmm. , Right.
Business account. A lot of banks have a lot of trouble opening up business accounts over the internet, like unless you already have an account there for your business and you just need, need another, because the business requires a little bit more documentation and. They need what? Well, they gotta verify the federal tax ID number.
You do that in the application. Right. But I’m saying they haven’t reached those digital platform. They haven’t gone that far into their digital transformation. A lot of banks I saw, uh, I was reading that they’re struggling in their digital transformation of how to even, We looked at a bunch of, I was looking at a bunch of bank websites the other day.
Cause I’m going to this financial brand conference. Right. And it’s all banks from all over the United States and the world. Mm-hmm. , 30,000 banks are coming into the. Um, to the convention in Las Vegas next this month, on the 13th through the 16th. So we was looking at different banks to see what they have, and I would say like the, you know, except for the neobanks, but most of them are concentrated on person personal accounts, not business accounts.
So they have a little trouble, you know, And they’re gonna have to step up their game and, and get people to open up, you know, Otherwise they’re gonna lose, They’re gonna, business are gonna lose to companies like PayPal, and that’s holds people’s money. They’re not really a bank, but they hold people’s money.
Right. They’re gonna lose to some of these FinTech companies. Oh yeah. Like there’s another one. There’s a couple that I was reading about. They’re small right now because they have to have capacity. Right. They just can’t just, Oh, let’s just open up 500, you know, a thousand business accounts. Right. They have to have capacity to do that with employees technology.
You know, backing by the F D I C cuz they’re limited and like how much money you can hold, you know, depending on your charter and all different things like that. So these banks need to step up the digital, the digital game, you know. But we were just at the National ATM Council mm-hmm. . And then we saw there.
How kiosks are being like added on to the ATM machine and services are being added on and really interesting stuff. Right. And then you have the, this new thing, open banking. Right? So open banking’s really interesting because with open banking I could go to a random ATM deposit, cash in there or checks, and then it would go to my bank as long, you know.
Um, pretty much would say that those ATMs would’ve to be serviced by somebody like Brinks or something like that, not by just a random ATM guy. They would have to be serviced by, you know, a company that’s engaged in open banking. Right. And also, you know, when you talk about like impoverished areas or.
Areas, like rural areas, you know that those are places that really need ATMs because when somebody needs a financial service, whatever that financial service is, getting money or depositing money or something like that. The banks are like going outta business in those areas, so there’s less, less, less amount of banks.
Like my daughter lives in Cedar Rapids, Iowa. I remember driving around there. I didn’t see Chase and Bank of America. Now it’s a city of over a half a million people in Cedar Rapids. So it’s not a big banks. No big banks. Maybe there was one downtown. I didn’t go. There had to be a couple downtown, but I didn’t see, you know, the bank.
I saw everywhere. These community banks and say, and stuff like that. They were all over the place. Mm. The local bank, like they don’t have trues there and my daughter still has her accounted. Trus. So she still, you know, has her bank account there. And, uh, you know, with, you don’t really need to go, like now, like most paychecks are electronically deposited.
Right. So people don’t need to have, go take your check to the bank as much anymore. No, never. Right. And even some places, like if the employee doesn’t have a bank account, they give ’em a debit card. Yep. And then so people get their money on a debit card. And then they have their money on a debit card and they, and whatever company that is, is providing like bill pay services and all that, or they’re going to the atm, taking out the money from the paycheck and spending the cash.
So it’s, you know, it’s not completely. Cashless because of the way that’s going. But I think with, you know, with open banking and these additional services like Hi Song and Gen Mega are adding on all these additional services that you’re gonna be able to do at the, at the atm. Yeah. It’s gonna be really, uh, uh, it’s gonna be a game changer for a lot of people.
Yeah. The way that you’d be able to pay bills, Right. You know, transfer money from one account to another, send people money. Do, you know, Western Union type of deal? Is this the endless opportunities for, for the atm? Is is really cool to, to watch it, uh, you know, grow. Yeah. It’s gonna become more of a financial, a financial hub for a community, you know, and, and maybe we’ll see, even see some of these neo things.
My, my thing about the, the ATM thing is it’s always kind of sketchy, right? Like, What you going to the atm? It’s kind of sketchy, you know, when you’re taking out money, you have to be aware. It’s not the safest thing. Right. Well, yeah, you could get robbed. That’s my point. Right. Well, so doing so when these, you know, that’s the one thing that is always in the back of my mind, these ATMs and kiosk, you know, there should, they gotta be like a more, a better.
Way of, you know, maybe some sort of lighting. Well, like I don’t go to the, like, I’m not, like, I’m not gonna go to the drive through ATM at 10 o’clock at night, and then somebody might follow me. Well that’s, But I’m just saying like, I’m just saying like, I think it’s kind ATM’s. My, I’m just saying ATMs are sketch, right?
So like if you go into a safe location, like let’s say there’s an ATM at the corner store in your neighborhood and you can go there, you know, you gotta pay your FPL bill and instead of taking money outta the atm, handing it to the guy at the counter and all that, they’re not gonna have to do that anymore.
Soon. Soon they’re gonna go to the atm, put in their ATM card, go, Oh yeah, I need to pay my fp and l. Click bill pay. FP and l um, you know, there, there’s already like software that exists to do this, so instead of the guy doing it at his computer, he’ll just do that and it’ll be less cash for the business to handle.
It’s nice things like that, safer for the business. Safer for the customers to go in there and they don’t have to take the cash out of the ATM or go to the check cashing store or go to, you know, take the money outta the atm. They can just pay the bill directly right on the atm. Pay your cell phone bill, pay your, pay your FB and L bill, you know, whatever bills you have, you know.
Bills you have cuz there’s already bill pay software. Many convenience stores have that in the, in the store. But you have to hand them cash. Yeah. The deposit, you know, at the ATM is gonna be a game changer. Yeah. Then you won’t have to go like to your bank to go deposit. Well I’m just saying for people who don’t have banks too, you know, like when Yeah, you could put the money on your card.
Yeah, yeah. You’ll be able to go have a debit. Cause you said, what’s the unbank. Yeah. Number. Oh, there’s millions of unbanked people because they don’t, and, but they use things like Chime, you know? So, but now to go put money on Chime, you gotta go to like Walmart or some store store. Walgreens. Walgreens, and you gotta give em money and then they put it on your Chime card.
You don’t get all the money. No, no. And it’s not instantaneous. Um, sometimes. You sure? I’m not sure if it’s some of them. No, it’s instantaneous. Oh, it’s instantaneous. When you’re load cash on a card, you get the cash right there. Right? So now it’s on your chime card and those, you know, or it’s on some other, There’s so many of these like fintechy card things, right?
And they’re growing, you know, slowly, slowly, slowly, but soon you’re not gonna, and you have to pay like Walmart to fee whatever it is, or Walgreens to fee to do that. It’s a big hassle for the store, you know what I mean? Yeah. They gotta count the cash. They gotta take the cash to the bank, you know? So now with these ATMs, you’ll be able to go up to the atm, stick in your chime card or whatever your Justin card.
Whatever it’s called, or the Rocky card go, Oh, I want to put $300 on my card, put $300 into the Bill Accepter. And we saw like some of these Bill Accepters were crazy. Some of ’em feed one by one, but some of them just had, You just could put a pile on top and it sucked it in. Yeah. You know, Sucks the money.
He counts. It says, Oh yeah, there’s 300 bucks. Boom, now it’s on your card. And then the money gets picked up by, you know, the armored car company and gets, you know, gets deposited to wherever it needs to go. So it’s really interesting, you know, how financial services is gonna move into a, you know, might put these, like now there’s like check cashing stores are pretty much like almost outta business.
See em? Yeah. It’s one by my house and I. Uh, there’s never anyone there, so I often wonder how or why are they still open? Well, a lot of them sell like bus passes. Yeah. They’re like community, like that’s utility shops, right? They, you could pay your bills there, you could pay your bills there. You could with suit, you’d be able to do it on a atm.
Imagine you could open up a small shop or you’re a store owner in an area where you have a lot of foot traffic and you could just put that, add that onto your current atm cuz it’s like a little side. I mean, for me it doesn’t make sense, right? Like I don’t use any of that type of stuff, right? I’m a techno, I’m using whatever the best way, the fastest, most efficient.
But I could see how this stuff is gonna be u utilized. Yeah. But let’s say, give you an example. Let’s say you’re a hairdresser. Mm-hmm. , right? You made $200 in tips, and now you don’t want to carry that around with you all day. So you go to the machine, put it in there, boom, it’s in your, That’s, Yeah. That’s huge.
That’s huge. Waitress. You know, there’s so many uses for it, you know, And these use cases where the person doesn’t want to carry around that much cash. Or they got paid in cash for whatever reason. Somebody gave the business owner cash and now the bank’s closed. Oh, go to be able to go to the machine, put it in, goes right on the guy’s debit card.
Yeah, that’s good. That’s real good. You know, so there’s a lot of good use cases for that. Or let’s say you’re traveling. You know, and now you need to pay a bill and you’re, don’t have your computer and whatever. Go over, you can pay your bill, whatever, whatever it needs to be. Or even, like you were saying, transfer money to somebody.
Yeah. Maybe that person doesn’t have Zelle. I mean, I, you know, with all the stuff going on with Zelle and all the problems they’re having, you know, Yeah. They’re in there, high water complaining. I see there’s other companies trying to get into the, get into the mix. Elizabeth Warren is after the c. Pbs, which is the Consumer Financial Protection Bureau.
You know, she’s after them with the whole Zelle situation and the fraud and Which Zelle situation? Which one? Zelle. Oh, with Wells Fargo Bank. Oh, yeah, yeah. Right, right, right, right, right. Cause there’s a determination. Oh, did the person get scammed or was there actual fraud? And there’s a whole fight now as to like what was fraud and what was the.
And they’re trying not to pay back the scams. Right. They’re, they’re trying not to pay back The fraud. The scams. Yeah. The scams. You got scammed. They don’t want to pay it back, which is what? Fraud, right? . It’s the, it’s the same thing. It was, you know, like the, they’re just saying it’s just like human negligence basically.
Like you should have known better. Right. Type of thing. So, but you know, but there was incidents where like, there was text mess, there was texts sent out and it says, Oh, your mortgage payment didn’t go through in order to not pay late fees, Zelle your money. And then the person was stupid enough to not look, pay attention, and they logged, did a login, and then put in an amount.
On the other end, the scammer actually saw the login logged into the person’s bank account. Zel themself the money. But now I don’t know about all the banks. I just know Trus cuz that’s where I bank everything now is like they send you a text. If you put a new person in, they you have to hit Yes. That you put it in there to put a code in on every single transaction.
Oh, the transfers, Yeah. Transactions and everything. Yeah. Navy federal’s the same. Yeah, they put, they added that on. But I don’t, you know, Zelle, I think that they should be held responsible for some of this stuff. But Zelle, I don’t know. I don’t know what, you know, Howard, someone has to determine, was it fraud or net fraud or scam, right?
So who’s gonna determine that? But also the cfpb, I mean, you can’t help people. I don’t know what’s making mistakes. Yes, you can help that. Right? Well, we did a whole talk about it last month. We did cyber security month and we gave a whole talk about cyber security and being careful. I was like, I was looking yesterday, like at email, right?
So I got a note from Microsoft. Oh, now you can set up two factor authentication on your email account, right? So go look at it like how to go set it. It was like the most confusing thing ever. I don’t understand why there was like all these steps to do this. Now you need some app on your phone and this and that.
Like why can’t you just do it through a text message, link it to the phone number, Boom. The person gets the thing. Puts it, Yeah. And log into the email. Some of ’em are really stupid, like they need you to, First you log in, then you get a text message, then it refreshes. Then you gotta answer a question like, come.
Yeah, it’s a little bit, It’s a little bit much, I think just the text. But then, you know, Microsoft has this authenticator app. I don’t know. It’s too many steps. Yeah. Although Microsoft is just doing too much. They’re, You guys gotta dumb it down a little bit, man. But I think there’s, Hello everyone. We like to take this time to thank our sponsors Nationwide Payment Systems and NPS Printer.
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Look, it’s a way where you can set it up where it just sends a text and I was like, I’m gonna have to call up like GoDaddy or Microsoft and find out exactly how to set it up because it doesn’t. It. Their little portal where you go set it up. I tried to do it, you know, Good work. I was. There’s no, it’s not asking you, like, it’s not telling you like, Oh, put in the phone number or put in the email or do this or do that.
So I was like, No, forget it. So I disabled this, but I, I would like to put it in cuz I think it’s important to have two factor authentication. It is very important, but the CF p b is also in a bunch of trouble because they’re making all these rules and then somebody took them to court over a bunch of the rules that they made that they’re involved in and said, This agency is illegal because it’s not governed by anybody.
It’s just some agency that the F D I C apparently created. Yeah. That was when I Googled it and didn’t really see what was going on. I’m like, Oh, they got. They, they just do what they want, right? They’re just doing whatever they want, making all these rules, Having hearings, hearings, right? I’m like, Hearings.
Who are these guys? Who appointed them? Right? They weren’t even appointed. Like there was no vote. There was, there was no vote to appoint there. This guy, this, these, this, this, this, this guy, this guy, that guy, this ch, this woman, that one, that one, that one you. That’s the. Right. It doesn’t make sense to me.
And then they’re making all these rules for open banking, crypto, uh, taxes, all kinds of stuff, then No, those things need to be voted on. Yeah. You know, there needs to be like votes, like, you know, Congress needs to vote. Like there’s not, they can’t just make up all these rules. So, I don’t know this, this thing might get defunded to, I hope it, and I hope it gets defunded because, you know, we first started reading about them a few months ago.
Remember it started coming up a lot and I, you know, cons, Sounds good, right? No, it sounds like its a great thing for the consumer, right? Consumer Financial Protection Bureau sounds good, but who is it? I looked it up. I’m like, , and then I see all these court cases recently, and they’re being struck down everywhere.
They’re being like, No, this is illegal. They can’t, You can’t make this rule. That’s something that has to be voted on. I didn’t even know that. I thought it was like a real thing. . Mm-hmm. , because, you know, Nobody was questioning it, but now it’s being questioned in the courts, they’re getting shot down everywhere in court, like everywhere.
All these cases. What? What do you, I mean, come on ladies and gentlemen. You can’t just start your own gang and then take over some stuff in Congress or whatever. That’s basically, that’s basically what they did. That’s what it sounds like to me. F D I C and like the financial committee or somebody just decided, Oh, here, let’s just, we’re gonna branch off.
We’re gonna create our own little set over. And we’re gonna gang bang on all these other bits, right? And they’re over there just beating up on everybody, like all the FinTech companies and all this stuff, and making all these rules. And then all of a sudden I’m like, somebody’s gotta like do something.
Right? What’s the lady’s name? Who runs it? Well, no, Elizabeth Warren is the one pressuring them to like do stuff, right? Oh, that’s right. She’s like the. The mouth, the mouthpiece in their ear, right? She’s the mouthpiece in their ear and she’s like, Oh, do something about Zelle. Do something about this. Do something about open banking.
Do this. So I’m like, Okay, well I don’t understand. So whatever. So now it’s a big. A whole big thing. There’s multiple court cases. They lost every single court case. So now I’m wondering like, is that gonna get defunded? Like what is the government gonna do about this? They created some kind of organization without having the taken the legal steps to do that.
It doesn’t sound like it should be a organization. I think. Yeah. You know, I understand consumers need protect. So that’s for sure. But you know, you also have F D I C, you have the ftc, the fda, the dea, you know, they, you know, you have fin send your mama. No, but I’m saying you have Fin Sen, which is the, the financial, um, Instrument that makes sure, like companies who move money around have to be registered with fins then, and they have to be aml, anti-money laundering, uh, you know, they have to have anti-money laundering.
So I don’t understand, like, you need who, who’s governing like this group, but let’s get back. Obviously no one is. Right. So, but they’re also like going after like the cash versus cashless thing too, and they’ve been commenting on it. So that’s why I brought them up into the conversation. But you know, cash is still out there.
ATMs are out there. There’s all nowhere. There’s a lot of movement with, you know, with cash versus cashless. I mean, we’ve even seen like, you know, like you go to the gas station to have a cash price and a credit price, and you go to many businesses and there’s a cash price and a credit price. And even the A C L U uh, reigned in on it, you know, they rang in on that a couple years ago and they said, Yeah, people who pay cash should get a.
Yeah, because I mean, they’re not paying with a credit card. People pay with a credit card should pay a little more maybe. Why is the reasoning? Um, because, uh, because they’re getting rewards and things like that. So ma you know, and a lot of businesses, especially with accelerated by the pandemic epidemic, You know, started charging like a fee.
When you use your credit card at some businesses, you know, they charge a fee, 2% percent. You got, They need to work on that answer. Who, Why? Why? What? Why they’re doing that? No. Why do you get a discount? Oh, cuz they’re saying because they’re not getting the re the benefit of rewards I underst that needs to be better.
Well that’s just was part of the reasoning. Yeah. I’m just saying. But even, you know, Maxine Waters doesn’t always agree with the guy on the other side of the aisle, which is, uh, John Rose, you know, and, but you did agree with him. And there’s a bill to keep cash to make it illegal for businesses to say they won’t take.
Yeah. That’s ridiculous then. And that needs to become a law. Yeah, because I don’t think, I think that’s punishing people who don’t have access to banking. It is a punishment. Yeah. I mean, he could look at it a lot of different, Even my son told me it was stupid during the pandemic, he would’ve people come into the store where he was working at and they would want to pay in cash, and he had to tell ’em like, Sorry, we can’t take cash.
And he said it was dumb. They, he started counting up how much money he was losing every day. Because he’s dealing with young people. So what does their parents do? They’re not gonna give them a debit hour. A 16 year old, Oh, here’s 40 bucks. Go to the mall. Right? Go get a pair of pants and a shirt. Yep. Right.
So they would come in and they couldn’t spend their money and none of the stores in the mall, but finally they loosened up cuz my son goes, Hey, today we missed, you know, a thousand bucks in sales. We missed 500. We missed this, right? We missed that. We missed 50 bucks, we missed this, we missed that. We’re not.
So this started taking cash again. Definitely starts adding up, I’m sure. Yeah, well it adds up because it depends who your customer is, you know, Depends who your customers are as as to how they’re gonna pay you. Obviously you walk into like some expensive steakhouse. You’re not gonna have that many people.
And let’s say they serve a hundred tables, right? You might have one or two where they whip out a bunch of cash and pay. Mm. And the rest of everybody else is putting it on a credit card. But let’s say now you’re at the corner bodega, he’s be spending a cash, right? And the person’s coming in getting a chiro and a coffee, or a bag of chips and a soda, and they’re just, you know, mostly, you know, a lot of people paying cash in those.
Yeah, man. I mean, people are worried about going into those types of small businesses and using their cards too. No, it’s, I mean, as long as they have, you know, EMV machines, I mean, it’s very, very safe. I’d say. I always put in your pin don’t, I don’t like using credit at those type of, You don’t like using credit?
No. I don’t know. I just feel safer. That’s one thing. Yeah. And that’s, you know, but that’s a whole nother discussion. You know, debit versus credit. One thing for sure is during the, during the times of the pandemic, that the amount of people who use tap and pay cards who are using Apple Pay and Google Pay and things like that, cuz they don’t want to touch the credit card machine.
You know, that accelerated, Huh? I didn’t get my, my. Well, when I was banking with pnc, they didn’t send me our new tap and pay cards. Right. Until like, I don’t know, 2021 something. Oh no, I just got mine like from my bank. I just got it recently. That’s what I’m saying, like they, you would go to this and I was seeing those people like how are they able to do that?
Yeah. Cuz some of the, Well, a lot of Chase was one of the first ones. No, I have Chase. I just got. And they literally just switched it out like six months ago. That’s crazy. Yeah. But I think they did it more on like personal accounts before business accounts and, But still, like Trus hasn’t changed their cards yet to tap and pay.
Oh, so you can’t tap and pay? Not with my truest card. No, it’s, it’s actually kind of annoying now that I’m so used to doing it and when I can’t do it, I get frustrated. Yeah. Cuz people want to do it at the gas station everywhere. They’re tap, tap, tap, tap. They even have signs up like, Costco, tap your card.
Tap your card. You know, that’s what they want you to do. So it’s, you know, It’s Accel, you know, that’s accept, but it’s not stopping people from ca paying cash. I would say probably like gas stations, you know, if people want to pay cash, they have to go inside the gas station and pay cash. So yeah, it’s kind of a hassle.
But when you, it depends on the neighborhood you’re in. If you’re in a neighborhood where there’s a lot of people that have cash, then you gotta be ready to take cash. It just agreed. Depends and you know, many, a lot of times in rural areas, People are, you know, they’re, they’re spending cash cuz maybe they’re selling, you know, watermelon farm, you know, they’re a farm and they’re selling stuff on the, you know, they’re have selling their goods.
I only said watermelon because every down here to watermelon trucks are crazy. Yeah. Like you stop on the, like, or you go to the, you go to the market. Yes. Stone craft shrimp or you go on the farmer’s market, right? Oh yeah. And every, all this, you know, the vegetable guy, everything is cash. Fill up a thing for 10 bucks.
You know, yellow, green market. They, they actually is pretty advanced. Well, you can actually pay with card. Right. But I’m saying like, if not, not regular farmer’s markets, most of ’em, you’re not paying with a card. Right. But if you go like to the, those ones people have like a permanent space thing. Yeah, but I’m talking about like, Like the city where I live.
Oh, right. You have like Coral Springs and you have Coconut Creek, and you have a Parkland. They have a farmer’s market, they have vegetable guys there, Fish guys, most of them don’t take credit cards. You have to pay ’em with cash. Have a random question. How can a watermelon be seedless? I’ve, I guess it’s through, you know, through genetically, genetically modified through farming.
Okay. How can a great be seedless but not be gmo? I don’t know. It’s impossible. Right, Right. Uh, you guys are liars, . I don’t, I don’t trust anything to anybody’s talking about with food anymore. Yeah. I have like one of my friends that’s a scientist and, uh, Eduardo and he, um, He developed a, we, he developed seeds so that they could be grown, like something that need could be grown in like Florida, let’s say like broccoli, right?
Well, you can’t, you know, they can’t grow broccoli like in Asia in a rice patty, but he developed a seed that will. With that, doesn’t need to have that exact kind of weather. Mm-hmm. . And it’s just like modified stuff. Like, you know, people get into that whole, you know, all our food is modified. Like when I was a kid, like Monsanto was like this company doing all this genetically modified.
And also when I go to Iowa, . I did a lot of reading about, cuz I asked my daughter, I go, What are all these signs? Like when we’re driving down the road out in the country to go hiking? Mm-hmm. . So you drive past like all these farms and they’re growing soybeans. A lot of soybeans and corn and I forget what else other, And then there’s labels, there’s some big signs on all the fields.
What seeds are planted there. Really? And they know exact, Yeah. It’s crazy that they know I looked it up. They know exactly. Like those seeds, where they came from and that they were planted there and they know after it was grown, that’s where it came from. I thought that was like a little bit outta like, I thought it was a little crazy.
That’s how they regulate cannabis too. That’s how they regulate cannabis. Yeah. So it’s pretty crazy how they can genetically track all these seeds and everything seed to farm. To sail. To sail, right? Yeah. So they can track and it’s for everything that’s grown, basically. Yeah. Cause we went by all these farms and I saw all these signs and I looked it up and I was like, Wow, that’s pretty crazy.
And the reason for that is, is let’s say Justin buys some seeds. And then he can’t just sell ’em to me to plant cuz he bought ’em for a special price. Ah, it’s like some whole weird thing about that. So that’s today’s podcast, Cash versus cashless and cash is here to stay. So except cash at your business.
Don’t be scared to go, you know, if you’re thinking about, put out some gloves. If you’re thinking about putting an ATM in your business, maybe it’s a good idea if you have enough traffic and it may, or maybe it’s a good idea to, to think about, you know, do you want to put in one of these ATMs that has. All the financial services on it, which is gonna be available very, very soon.
You know, they’re manufacturing the machines, they’re getting ’em ready for deployment and all that. Soon. I see those types of ATMs being really big in like, you know, like Walmarts and uh, you know, um, grocery stores. Yeah. Um, Malls maybe, or like, maybe not a mall, but high traffic type of stuff. Yeah, could be.
Yeah. Any place. But there’s a lot of like corner stores where you can go pay your bills. That’s, Oh, that’s what I’m saying. Like that’s liquor stores, right? Stuff like that. Yeah. Just depends on the neighborhood. But it’s gonna be a way for business owners to make a little less money, make a. Make a little bit of commission off of those extra services that are on the ATM machine and, and, uh, provide a service to the community.
Yep. Or let’s say you’re in a rural area and you need to have, you know, People can’t drive, you know, 30 miles into town to go do stuff. And you have the, the local store, you know, you got, you know, think about putting something like that in there. And also, I think we’re gonna see some of these like online banks put out their own.
ATM slash kiosks too. Maybe when the, when those services become available so that they can make it easier on their customers, you know? All right. So that’s today’s podcast. Thanks for listening. Carpay, DM, and peace out.
