When compared to coin, card systems have been the technology evolved payment solution for decades. However, with the smartphone investing in card system is now an investment into the past. No one wants to carry cards with them. Everything revolves around the smartphone.
Today’s laundromat & multifamily customers prefer to use their smartphone for purchases. Mobile payment solutions are great because they are low-cost and featureful. Investing now in a card system could be a costly mistake and here’s why:
- Cost -- Card-based systems have always been known to be notoriously expensive and prohibitive for most coin-op laundry operators. Mobile systems change the game by offering all the features of a card based system at about 1/10 the cost. Doing a large laundromat with ShinePay will set you back under $10,000 vs $100,000+ with a card system. You can try one machine for as little as $149. And there is zero obligation and 30-day return policy.
- Simplicity -- Mobile systems have a small box that go securely inside your machines. The user brings all the complex stuff in with their phone. With card-based systems you were taking something simple like laundry and making it very complex. You need to purchase expensive credit-card readers which open yourself up to costly vandalization. You need to purchase special WiFi and Cellular base-stations, kiosks, and cards. This adds up not only in money but also in time spent playing with payment systems instead of investing time in additional opportunities.
- Upgrading is Expensive -- Card system hardware is expensive to upgrade. It has a screen, connectivity, and payment processing. With mobile payment solutions the user brings this technology in their smartphone and they bare the cost of upgrading it.
- Mobile Payments Change With The Times -- The core of mobile payment technology is the software that resides on the users phone. As payment technology change with software we integrate this into our system at no cost to you. The investment you make now will improve with time like a fine wine.
More-costly not to upgrade -- This probably sounds like a scare/sales tactic but it’s not. People spend more when they use a credit card. They choose where to go based off convenience. Many studies show this. And you can choose to pass on the cost of the fees to the user as a convenience fee, if that’s something you desire to do. Giving them the option to pay a lower cost with cash similar to many gas stations.