Vended Laundry Payment Options: The Transition to Cashless

If you are debating on what payment options you should use for your vended common area laundry facility, it is essential to decide what is right for you and the residents living in your buildings.

Technology is rapidly changing our everyday lives. There is a tremendous opportunity for property owners to stay at the forefront of new and emerging technology to ensure that the laundry experience is the best it can be.  At the same time, we are experiencing a worldwide pandemic that has temporarily, but most likely permanently, reduced cash use as the general population has a reluctance to use coins or bills deemed unsanitary.

Emerging technologies combined with a pandemic have accelerated self-service in the payment arena, focusing on creating technology-based solutions that provide touch-less alternatives and increased automation and self-service.  Overall, Covid-19 has highlighted a consumer preference for a cashless, touchless user experience when making payments.

Coin Laundry: Traditional

Coin systems are easy to use and easy for people to understand; however, the reluctance to handle coins and the inability to access or gather enough coins has become a hurdle for many.  Areas with coin-operated laundry are also experiencing increased vandalism, and this is expected to continue while economies and the population struggle to recover.

Card Systems: It’s What People Are Coming to Expect.

Card systems allow you to remove cash handling from the property entirely.  Cloud-enabled technology captures data to track usage and can provide insights to help determine how best to equip, price, and maintain your laundry facility – ultimately leading to increased profitability.  The card systems are easy to use, however, there will be some people who are not comfortable using a common area reload centre shared by many.

Payment Apps: The New Trend.

Mobile apps using Bluetooth technology and a secure digital wallet make it possible for residents to pay for laundry using their phone – no quarters or cards required and no reason to visit a Reload Station.  Users download the app, add funds electronically, see which washers and dryers are available, and swipe to pay, allowing them a much more touch-less payment experience.

While app payment is easy and secure, a small group of residents may still be uneasy about using the new technology. However, you can still offer the option of coin or card payments for those who prefer that method as mobile can be layered onto most existing coin or laundry card payment systems—ideally providing the consumer with payment choices!

As we look towards the end of 2021, Mobile payments should be at the centre of any vendor payment discussion and strategy. At Coinamatic we are happy to help you with those discussions and find a right solution for you and the residents in your building!