Page 4 October 5, 2017
Finance
(BPT) - The dollar, the
euro, the pound, the yen... the
currency people use around
the world has many different
names, but it all shares
something in common. Paper
forms of currency are out
and digital payments are in.
The security and convenience
of card based electronic
payments and digital payments
are driving a global
shift away from cash. As
consumers and merchants
around the world become
more and more digitally connected this shift
will continue to accelerate.
All over the world, the shift toward cashless
payments is well underway. On the beaches
of Cabo San Lucas, taco and tamale vendors
are starting to offer their delicious food to
customers with the swipe or tap of a card on
a mobile phone. In Singapore, consumers can
rent bikes, pay for their morning coffee and
Three Reasons to Go Cashless
split their dinner bill without ever needing
cash, and in Warsaw, as cashless payments
are becoming increasingly accepted, tourists
can start to tap and pay their way around the
city without carrying cash.
The United States is seeing similar changes.
Cash and checks are on their way out and
swiping, dipping, tapping and clicking are
filling the void - benefiting consumers and
Driver Safety from front page
F R E E F A M I L Y
T E V E N
Saturday, October 14, 20 17
10am - 2pm
Free Parking & Shuttle Service
1960 E. Grand Ave., El Segundo, CA 90245
Sponsored in part by:
AKM Consulting • Carollo Engineers, Inc. • CH2M • Continental Development Corporation
DRP Engineering • National Water Research Institute • The Solis Group
Tetra Tech • The Louis Berger Group
Sponsors listed represent commitments as of 09.19.17
Edward C. Little Water Recycling Facility
1935 S. Hughes Way, El Segundo, CA 90245
For more information, visit
ww w.westb asin. org
Water E ducation
Stage Shows Games
Kids Costume Contest
Water Recycling Tours
West Basin Board of Directors
Harold C. Williams Division I
Gloria D. Gray Division II
Carol W. Kwan Division III
Scott Houston Division IV
Donald L. Dear Division V
Cell phone data showed South Bay drivers being dangerous around schools. Credit: Zendrive.
Manhattan Beach: D- for Mira Costa High
School, very high cell phone usage.
Torrance: D- for Torrance High School,
with some cell phone distraction. D- for
Torrance Elementary School and Torrance
Montessori School, both with moderate cell
phone activity near the campuses.
Wiseburn: D-, with moderate cell phone
use nearby.
Drivers continue to ignore California’s
hands-free cell phone law, and far too
many drivers are multitasking with their
smartphones while in traffic, the Zendrive
project team said. The distraction of looking
away from the road to tap a phone
screen becomes especially dangerous in
congested school drop-off zones, they say.
“Our recent study revealed 88 percent of drivers
use their phones while driving--definitely a
contributor to the one in three drivers showing
unsafe pickup or drop-off behavior in school
zones,” according to the report.
Zendrive works with companies and
transportation companies to improve safety
of its drivers and lower accident rates and
insurance costs. The Bay Area company
measures driver safety using phone apps
and has tracked 30 billion miles of driving.
Zendrive used anonymous driver data from
customers and shared by partners, including
businesses alike.
A recent Cashless Cities study from Visa,
set to be released later this year, finds that if
businesses in the top 100 U.S. cities transitioned
from cash to digital payments, those businesses
and their cities would experience net benefits
of $312 billion per year. Businesses in New
York City alone would net $6.8 billion while
saving more than 186 million hours in labor.
But the benefits of taking checks and cash
out of the system do not stop at labor cost
efficiencies. They include:
• Convenience. Consumers and businesses
alike benefit from the speed and convenience
of electronic and digital payments. Faster
checkout times mean more sales for businesses
and more time to spend on the important
things in life for consumers.
• Security. Accepting cash payments has
always placed businesses in a bind; as their
revenue increases, so does their risk of falling
victim to theft. Transitioning to cashless payment
options enhances security and reduces
risk for businesses and their customers.
• Reduced costs. Cash payments must be
counted, stored and transported. There are
costs associated with all of these processes.
Adopting cashless payments saves businesses
time and money.
Many businesses across the country are
already benefiting from going cashless, but for
companies - particularly small businesses that
have yet to take the leap - now is the perfect
time to make such a change.
Visa is announcing The Visa Cashless
Challenge, a call to action for small business
restaurants, cafés or food truck owners
to describe what cashless means for them,
their employees and customers. Visa will
be awarding up to $500,000 to 50 eligible
U.S.-based small business food service owners
who commit to joining the 100 percent
cashless quest.
Business owners can learn more about the
challenge and the other benefits of going
cashless at www.visa.com/cashless. Complete
rules and information will be available on the
website on Aug. 15. •
GasBuddy, Life360, and HopSkipDrive, to
profile schools and districts nationwide.
Los Angeles County was 53rd in the state
ranking for driver safety around campuses
among 55 counties counted by Zendrive.
California and Florida received an F among
the 50 states, while Nevada and Arizona
made the bottom rankings with a D and
D- respectively. Oregon drivers were judged
best in the West, earning a B. •