Laundromats Can Go 100% Cashless – Advantages of Contactless Payment Terminals

• Embrace cashless laundromat payment solutions for improved customer experience and loyalty programs
• Contactless payments add convenience, eliminating the need for coins, reducing operational costs, and lowering maintenance for laundromat owners
• Increase safety by preventing cash-related crimes and counterfeiting risks with digital payment methods

Cashless laundromat payment systems are increasing due to their convenience for customers and ease of management.

These systems can be transformed into loyalty programs by using reloadable cash cards. Although coin-operated laundromats are still popular, cashless systems are gaining popularity among customers and operators. Read on to discover the benefits of going with cashless payment solutions for laundromats.

Benefits of Contactless Payment Systems

1. Improve Customer Experience with Cashless Payments
Many consumers nowadays prefer to pay for their purchases using credit or debit instead of cash. According to CNBC, about 30% of American consumers do not use cash for transactions in a given week. For some people, a laundromat that only accepts cash can be inconvenient and require a trip to the ATM to withdraw cash before washing their clothes.

There is a growing trend towards digital payment methods, such as Venmo and micropayment systems. Integrating credit and debit processing into your business can also enable the use of digital loyalty cards, which can enhance the customer experience. Implementing a loyalty program can help attract and retain customers if you operate a laundromat in a competitive area.

In major cities such as New York, Los Angeles, and San Francisco, many households do not have their own washing machine. To prevent potential customers from washing their clothes elsewhere, a loyalty program can be a valuable tool. Digital loyalty programs integrated with online payment platforms are the most effective way to implement this strategy, as it eliminates the need for an attendant to track and punch loyalty cards manually.

2. Contactless Payments Add Convenience

When using coin-operated laundry machines, customers need to ensure they have the correct coins on hand. But, with a cashless laundromat payment system, this inconvenience is eliminated as customers can pay with their debit or credit cards. This makes payment as easy as a simple tap and go.

As a business owner, you also benefit from not having to collect coins and make frequent trips to the bank. Instead, payments are received directly into your account, lowering operational costs and saving valuable time.

3. Maximizing Revenue with Multi-Pricing and Removing Barriers

By using cashless card readers, laundromat owners can potentially increase their revenue. Accepting various payment methods removes barriers for customers and allows for more spontaneous and off-hour visits to your laundromat.

With multi-pricing, you can provide additional incentives for your customers. By offering different prices for cold, warm, and hot washes or for wash and dry combinations, you can boost your average transaction value and attract more customers. This can be set up seamlessly with a POS system when it’s connected to contactless payment terminals.

4. Increase Safety with Contactless Payments

It’s a well-known fact that businesses that use cash as their primary mode of payment tend to attract criminal activity. For example, the cash present in the machines may be tempting for criminals to steal. Additionally, payment systems that only accept cash require customers to carry and count their coins. This can be inconvenient for customers who prefer a faster and more efficient payment method. Moreover, the customers themselves may also be a target for criminals looking to steal their money. This is why laundromats need to consider using cashless payment systems.

By accepting cards or other digital payment methods, unattended laundromats can eliminate the risk of cash-related crimes. While no payment system can guarantee complete safety, digital payments are a step in the right direction. Digital payment options, such as credit cards or Apple Pay, can help create a safer environment for their customers. With the convenience and security of these payment methods, customers can focus on getting their laundry done instead of worrying about their safety.

5. Avoid Counterfeit Money with Cashless Payments

Not only is it safer for customers to use contactless payments, it’s also safer for businesses. This is because cash-operated businesses are often vulnerable to counterfeiting, which can cause significant damage to the company.

• People may use counterfeit money for small transactions, such as exchanging $20, $10, or even $5 bills for coins.

This can lead to money laundering on a smaller scale, especially in laundromats that do not have an attendant to monitor transactions.

• Criminals may also use metal slugs to trick coin machines, which can be a form of foreign coinage or a metal washer.

However, if customers use their credit cards to pay for laundry, the risk of cash-related fraud can be significantly reduced.

6. Digital Laundromat Payment Systems Have Lower Maintenance

If your machines only accept cash, you will need to collect the cash at least once a week, possibly more frequently, if your business is busy. Otherwise, you will need to hire an agency to handle it for you.

On the other hand, an unattended laundromat that accepts debit cards, credit cards, and other digital payments will require less maintenance. In the event that a customer damages the coin-operated component of the machine, you will have to repair it yourself or hire a professional, which could cost anywhere from $85 to $150 or more, depending on the issue.

Accepting debit and credit payments will give you a nearly maintenance-free experience in your laundromat. You may still offer cash payments, but you could also consider providing a laundromat debit card that can be reloaded, similar to a prepaid arcade card.

Shifting towards card payments over cash will significantly reduce your time and money investment in active maintenance. Additionally, online laundry reloads for money cards could be an option if you prefer not to have a cash machine.

Ready to Upgrade your Laundromat’s Payment System?

Embrace the benefits of our Unattended Laundry Terminal and offer convenience and safety to customers with contactless payments. Reduce maintenance hassle, increase profitability and avoid counterfeit money risks. Integrate a seamless digital solution that elevates your laundromat’s efficiency and customer experience.

Upgrade now and take your laundromat’s operations to the next level. Click here to get a free obligation quote.