Berlin pop-up restaurant: Diners pay in time, not money

WHAT'S HAPPENING

The German chapter of the Time/Bank artist collective recently opened Time/Food, a pop-up restaurant in Berlin (E-flux.com, 17 February 2012).

The restaurant serves lunch every other Sunday, in exchange for time currency, earned by helping others in the Time/Bank community. The price of a meal at Time/Food is half an hour of time.
To use the restaurant, "starving" artists and interested Berliners only have to open an account on the Time/Bank website and start earning time credits.

Time/Bank is an international community and a platform for cultural workers to get things done without using money.
The idea behind the platform is to develop a parallel economy based on exchange of time and skills. Time/Bank allows individuals to request, offer and pay for services in "Hour Notes".

WHAT THIS MEANS TO BUSINESS
Time banking is a creative way to deal with economic pressure. Everyone can chip in what they can, and they're valued for their contributions.

Time banking, and especially the concept of Time/Food, not only has financial benefits but fosters a greater sense of community. Consumers are realising that building local relationships can benefit themselves and support the regional economy too.

RESOURCES
Time/Food
Time/Bank

A crowdsourced credit card: Barclay throws the terms to its customers

WHAT'S HAPPENING

The credit card industry is ripe for a remake, thanks not only to new heavy-handed federal regulations that put a pinch on old profit lines, but because the marketplace and the times really demand it. Barclaycard is making a bold step into brave new territory with the Barclaycard Ring MasterCard, announced in March 2012 (NYTimes.com, 5 March 2012).

The Ring will actually be a social network moderated by Barclaycard in which card members will get full disclosure on the card's profits and losses; they'll vote on changes in terms such as interest rates, annual fees and late payment penalties; and most important they'll participate in a rudimentary profit-sharing program called Giveback.

WHAT THIS MEANS TO BUSINESS
More than allowing customers to participate in setting the terms, this program hopes to foster an online community that gives as good as it takes. Barclaycard hopes to get creative feedback from Ring members that it can use in other parts of the business.
We've been urging banks to position themselves as customer partners and advocates rather than hostile rivals. This is the best example we've seen so far, at least on paper.

RESOURCES
Barclaycard Ring

Hungry in Dubai? Push a fridge magnet to instantly order a pizza

WHAT'S HAPPENING

Dubai residents can now order their favorite pizza simply by pressing a special refrigerator magnet. This one-step gadget is a first in the fast food industry (DigitalTrends.com, 26 March 2012).

Created by the Dubai-based Red Tomato Pizza, the magnet button is synced to a user’s smartphone via Bluetooth. The Red Tomato customer has on file his or her favorite pizza choice, payment info and address.

When the “Push for Hunger” button is activated, the order is seamlessly placed and a confirmation SMS is sent to the user's phone. And if you pushed in haste, there is the option to cancel the order by sending a reply text.

The VIP Fridge Magnet has been so popular that Red Tomato has run out of them. Unlike its wood-fired pizzas, the next batch of magnets will take 6-8 weeks to arrive.

WHAT THIS MEANS TO BUSINESS
In a world where consumers would rather text than talk, and time spent chatting is time wasted, the pizza magnet speaks to the customer who wants speed, convenience and efficiency.
But is it too easy? We are already increasingly living in a cashless society where the price of everyday items are not top of mind. And when you add the instant gratification to the mix, satisfying our every want becomes dangerously easy.

RESOURCES
Red Tomato Pizza VIP Fridge Magnet