What Happens to Street Performers in a Cashless Economy? [View all]

[brooklynite]

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In 2017, the Federal Reserve system estimated that, month-to-month, 27 percent of transactions in the U.S. are in cash, down from 32 percent the year before and 40 percent three years before. Debit and credit cards combined made up 48 percent of all transactions in 2015, a gain from a combined 42 percent in 2012.

The push toward plastic comes from multiple directions. In 2017, Visa offered $10,000 grants to businesses to go cashless. While it’s no surprise that a card payment processing corporation is interested in a society in which everyone constantly uses their cards, many businesses are making the switch without incentives, citing the relative safety of electronic transactions or customer behavior. Indeed, consumers often lead the charge, so to speak, by favoring credit cards for their rewards, convenience, or safety features.

But the relative absence of cash in the average American wallet can mean a smaller take for those whose businesses depend on it, and entertainers working for spare change may be among the most vulnerable. Will they be able to adapt to cashless societies?

Nick Broad, founder of The Busking Project, had this question in mind when he and a cofounder developed a busking-specific payment app in 2015. On a street performance-focused trip to 40 countries, they found that buskers in many locales called an inability to receive non-cash payments a problem. Their solution, Busk, permitted performers to create a profile that spectators could use to tip them via credit or debit. The app integrated a real-time map of street performances, links to downloadable music, and a way for performers to capture patrons’ contact information.