We all miss our favorite coffee shops. It's part of our routine. It's habitual. Coffee, or any caffeinated drink, also happens to be addictive. So how are coffee shops surviving during this pandemic? This pandemic has highlighted our need for convenience and minimal touching. With one click, we have our favorite drink ready for pick up, without the need to touch anything! This is the future of digital payments that we've seen work really well in countries like China.
In today's episode, we learn about the coffee shop business and how they relate to the evolution of digital payments. We sit down with Tim Griffin, founder of Cloosiv, a payment platform focused on coffee shops. We learn:
Why the US is behind in digital payments in comparison to China.
How Starbucks created one of the most used payments app.
How the coffee shop business works, and how they're adapting during COVID.
Why contactless payments are the future.
This is our last episode of the season, but we'll be returning soon after a short break. Thank you to all our guests from this season for participating. Thank you to Olivia Briley for producing and to Maia Tarrel for editing the podcast. Thanks to my wife for doing all our pre-rolls and editing the notes. Thank you to our listeners, for sticking with us and giving us your time. Stay safe out there.
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The Price of a Pandemic: The Coffee Shop | Talk Money podcast - Listen or read transcript on Metacast
