Category: Uncategorized

Customer Service Matters in a Cashless Payments Vending Machine Business

In the fast-paced world of vending machine businesses, where cashless payments are often swift and impersonal, the importance of exceptional customer service cannot be overstated. This emphasis on customer service is reflected in statistics from Vending Market Watch’s 2020 State of the Industry Report, which provides valuable insights into the customer experience within the vending machine industry. It highlights the critical role that customer service plays in shaping customer perceptions and driving business success. According to the report, small independent operators, who are often more agile and responsive to customer needs, dominate the market, controlling a significant 67.1%. This breakdown underscores the importance of prioritizing customer satisfaction in a competitive landscape. 

These statistics emphasize the significance of catering to customer needs and delivering exceptional service to maintain a competitive edge in the vending machine business. 

In the vending machine business, customer service isn’t just about fixing technical glitches. It encompasses a range of interactions that shape the customer experience, from maintaining clean and well-stocked machines to offering personalized recommendations and assistance. Here’s why prioritizing customer service matters in this industry: 

First impressions count 

Your vending machine is often the first point of contact between your business and potential customers. A positive first impression can influence whether customers choose to engage with your machines or seek alternatives. By ensuring that your machines are well-maintained, visually appealing, and easy to use, you create a favorable impression that encourages repeat business. 

Building trust and loyalty  

In a competitive market, a vending operator’s ability in earning the trust and loyalty of customers is essential for ensuring long-term success of any operator. Offering dependable service and promptly addressing customer concerns are crucial steps in cultivating trust and fostering loyalty. Customers are more likely to return to machines operated by businesses that prioritize their satisfaction, even if it means paying slightly higher prices for products.

Differentiation in a crowded market: Cashless Payments   

In a market where vending machines are ubiquitous across various settings, distinguishing your business can be challenging. Exceptional customer service serves as a key differentiator that sets many vending operators apart from the competition. Whether it’s offering a wider selection of products, implementing innovative technology, or providing healthy, sustainable, and unique offerings, going the extra mile for customers can give you a competitive edge. Effective customer service extends beyond completing transactions; it involves understanding and anticipating customer needs. By actively staying up to date with the latest trends, integrating cashless payments, or offering promotions and discounts, your sales will naturally increase. 

Enhancing brand reputation in your self-service business   

Positive word-of-mouth remains a powerful marketing tool for any business, even vending machine operators. When customers have positive experiences with your vending machines, they’re more inclined to recommend them to friends, family, and colleagues. This not only aids in attracting new customers but also solidifies your brand reputation as a provider of quality products and service. In today’s digital age, maintaining an active social media presence to promote your offerings and encouraging customers to share their experiences online can exponentially boost your visibility and credibility.

Check out Louis’ Slab Sauce’s growing social media here. They are a family-owned business that has partnered with us to introduce Canada’s First barbecue sauce vending machine, located at Tecumseh Mall in Windsor. 

Conclusion 

Customer service plays a crucial role in the success of vending machine businesses. By prioritizing customer satisfaction, operators can create positive experiences that drive repeat business, foster loyalty, and differentiate their brand in a competitive market. In an industry where cashless payment transactions are often automated, it’s the personalized service that leaves an impressionable mark on customers and propels businesses towards enduring success when. 

As a single-source provider in Unattended Solutions for over 20 years, KioSoft’s KioVend line, offers top-of-the-line vending machines equipped with our integrated payment solutions, wireless communication, vending management system, and direct bankcard processing. Each machine is built and deployed to operators fully assembled and configured according to your requirements. This approach enables us to deliver unparalleled service and around-the-clock support to all our partners. At KioSoft, we prioritize the customer experience just as much as you do. So, if you’re ready to take your vending business to the next level, contact us today. 

References: 

Vending Locator – Vending Machine Statistics in 2023

IBIS World – Vending Machine Operators in the US – Number of Businesses

Exploring the Benefits of Laundry Cards in Modern Laundromats

Laundromats, once synonymous with coin-operated machines and the jingle of loose change, have undergone a remarkable transformation in the last two decades. Since the early 2000s, laundromats have witnessed a revolutionary shift in their integrated payment solutions with the introduction of laundry card kiosks. These innovative kiosk have transformed the laundry experience for both laundromat operators and customers alike. In this post, we will explore the various benefits of using laundry cards in modern laundromats. 

Streamlined Transactions and Operational Efficiency 

Laundry cards have become a classic standard of convenience, offering a streamlined and efficient payment solution for both customers and laundromat owners. The archaic process of fumbling for coins or cash has given way to a simple swipe of a card or tap of a mobile phone payment, allowing patrons to load credits onto their laundry cards effortlessly. This not only reduces transaction times but also enhances the overall efficiency of commercial laundromat businesses. 

According to the most recent Coin Laundry Association Industry Survey, 43% of laundromat operators indicated that finding and retaining reliable employees was a major issue for their business, while 26% claimed that the high cost of labor was a significant problem for the industry. Given these challenges, it’s not surprising that many operators have chosen to eliminate labor altogether and operate unattended laundromats. In the same CLA study, when broken down geographically, reveals that certain segments of the U.S. boast a high rate of unattended stores – with 32% of laundromats in the Northeast completely unattended and 47% in the western portion of the country being unattended. This shows that laundry operators have been shifting to more unattended transactions to create maximized operational efficiency for their businesses. 

Heightened Security and Fraud Prevention 

Traditional coin-operated machines have long been vulnerable to theft and fraud, with criminals tampering with coin slots or pilfering from machines. Laundry card machines address these security concerns by eliminating the need for physical currency with an integrated mobile payment solution. Moreover, these cashless payment systems often incorporate advanced security features, providing robust protection against potential risks. 

Loyalty Programs and Customer Engagement 

Laundry cards empower laundromat owners to implement innovative loyalty programs and incentives, fostering customer loyalty and engagement. By offering discounts, promotions, or bonus credits through the credit card laundry system, operators can not only attract new customers but also retain existing ones. This dynamic coinless laundry approach not only boosts customer satisfaction but also creates a sense of loyalty that positively impacts a laundromat’s bottom line. 

Real-time Monitoring and Reporting 

A game-changer for laundromat operators, laundry card systems provide the ability to monitor and track usage in real-time. Detailed reports on machine usage, peak hours, and revenue generation empower owners to make informed decisions. This data-driven approach allows for the optimization of machine availability, leading to enhanced operational efficiency and improved customer service. 

Consider Josh Capman, owner of Wash Bar, who shares his experience with KioSoft’s backend management and reporting system:

“Ever since choosing KioSoft, their CleanOperator mobile app has provided seamless backend management, simplified daily reporting and real-time insights into my customer engagement. I can stay connected with just a glance at my app, no matter where I am.”  

Environmentally Friendly Practices 

The shift towards laundry cards isn’t just a technological advancement; it’s also a step towards sustainability. By reducing reliance on coins and paper receipts, laundromats contribute to an eco-friendly laundry experience. Laundry card kiosks promote a paperless and efficient payment process, aligning seamlessly with the global focus on sustainable practices. The environmental impact of laundromats is a critical consideration, and the adoption of laundry cards demonstrates a commitment to reducing the industry’s carbon footprint. 

User-friendly Technology and Accessibility 

Laundry cards are designed with user-friendliness in mind. The technology is accessible to a broad range of users, including those who may struggle with the transitioning from traditional coin-operated machines. This inclusivity ensures that the laundry experience becomes more accessible to everyone, regardless of age or technological familiarity. The intuitive nature of laundry cards contributes to a positive user experience, attracting a diverse customer base and ensuring that laundromats remain relevant and easy to adapt too.  

Conclusion 

The widespread adoption of laundry cards in modern laundromats represents more than just a shift in payment methods; it signifies a fundamental change in the way we approach coin laundry. From streamlined transactions and heightened security to loyalty programs, real-time monitoring, and environmental considerations, laundry cards have become the linchpin for creating a convenient, efficient, and customer-centric laundry experience. 

As we navigate an era of laundry tech solutions, KioSoft stands as a global leader in unattended solutions, making significant strides since entering the industry in 2002. Our revolutionary payment solutions have transformed both route and retail laundromats, underlining our commitment to innovation and efficiency. KioSoft has become synonymous with cutting-edge technology. 

At KioSoft, our Laundry Card System seamlessly integrates laundry card kiosks, value cards, and connected payment readers, providing a unified solution to enhance laundry operations. This innovative system optimizes efficiency by facilitating secure fund loading, enabling seamless digital transactions, and bolstering connectivity with laundry machines.

The AVU Touch 17” kiosk, our flagship product, empowers operators to offer customers an interactive 17” touchscreen and a smart dispenser. It provides diverse payment options through value cards and facilitates credit additions via various payment methods. The kiosk also includes bilingual capabilities, enhancing the overall user experience. In addition, our connected payment readers and Cloud Cards are designed to support value card and mobile app payments at unattended machines. This offers flexibility, allowing users to choose between individual prices or predefined packages. As we navigate the evolution of laundromat payment systems, it is evident that KioSoft stands at the forefront, delivering unparalleled solutions for a seamless and modern laundry experience.

Disclaimer: AVU Touch 17″ is only available for retail operators.

References:

Coin Laundry Association Industry Survey 2019 – https://coinlaundryassociation.com/wp-content/uploads/2019/08/IndustrySurvey19.pdf 

The Unattended Laundromat – https://planetlaundry.com/the-unattended-laundromat/

Robot Coffee Solutions for Hospitals

In the fast-paced world of healthcare, where precision and efficiency are paramount, the KioCafé Kiosk Series 3 emerges as a game-changer, integrating technology, convenience, and excellence into the coffee experience. Let’s explore the benefits of this fully unattended, enclosed robot coffee kiosk, complete with a state-of-the-art robotic arm for healthcare facilities.

1. Enhance Staff Productivity and Patient Satisfaction 

The KioCafé Kiosk Series 3 goes beyond a standard coffee machine. With a sleek touchscreen order interface, this fully automated solution serves 75-100 cups of hot espresso-based beverages per hour. The robotic arm, akin to a skilled barista, meticulously prepares each cup, ensuring consistency, precision, and high quality. Imagine the impact on staff productivity when healthcare professionals and visitors can access a premium cup of coffee with the touch of a button, anytime. This level of convenience not only saves time but also contributes significantly to the overall satisfaction of patients, visitors, and staff alike. Serving within various healthcare environments in Canada and the US, healthcare workers have expressed that KioCafé has truly been impressive. 

“It has been so pleasant to access specialty coffee with just a few taps in under 2 minutes. This convenience has been incredibly helpful during late-night shifts and those odd hours when you need a quick pick-me-up. Not to mention, there are options to adjust sugar levels, choose milk alternatives such as oat milk, and opt for decaf or hot chocolate for children!” 

-Toronto General Hospital

2. Operational Efficiency 

Optimized reporting, data collection, tracking, and inventory management are seamlessly woven into the fabric of the KioCafé Kiosk Series 3. KioCafe Analytics is our backend management system that ensures that every transaction and order detail is tracked, providing valuable insights for operational enhancements. The robotic arm, a symbol of precision, not only crafts exceptional coffee consistently but also contributes to the overall operational efficiency of the coffee kiosk. The elevator delivery safely transports freshly brewed beverages to the pickup station, further enhancing the overall efficiency of the coffee-serving process. 

3. Increased Revenue through Cost-Effective Solutions 

The KioCafé Kiosk Series 3 is not just a robot coffee machine; it’s a cost-effective, passive revenue-generating powerhouse. Integrated with an unattended payment solution, this coffee kiosk creates an automated revenue stream for healthcare facilities. By reducing the need for additional staffing, it directly contributes to lower operating costs, making it a financially sound investment. The convenience it provides, coupled with its diverse menu options, makes it an attractive choice for healthcare environments seeking to bolster their revenue streams without compromising on service quality. 

Key Metrics

Features that Set KioCafé Apart 

• Robotic Arm: Incorporating cutting-edge technology, the precision and efficiency of the robotic arm ensures consistently exceptional coffee preparation every time. 
• Elevator Delivery: Safely transports freshly brewed beverages to the pickup station, minimizing wait times and maximizing efficiency. 
• Hot or Cold Beverages: The Kiosk offers a wide range of beverages, catering to diverse preferences with options for both hot and cold drinks. 
• Lid Dispensing: Ensures sanitary and convenient access to lids, guaranteeing a spill-free experience for users. 

In conclusion, the KioCafé Kiosk Series 3 is not just a mere coffee solution; it stands as a transformative addition to healthcare facilities, revolutionizing the way we perceive self-service commercial coffee machines in these environments. Elevate your healthcare hospitality with a fully automated, cutting-edge coffee experience that goes beyond routine caffeine delivery. This innovative, automatic coffee machine not only caters to the diverse needs of healthcare facilities who require access to premium coffee around the clock but also significantly enhances productivity, ensures operational efficiency, and contributes to increased revenue. KioCafé powered by KioSoft can transform your healthcare space with a robot making coffee solution that seamlessly integrates into the daily lives of those who rely on caffeine for focus and energy today.

How Unattended Payments Solutions are Reshaping Arcades

Arcades and family entertainment centers, the nostalgic hubs of yesteryears, are undergoing a transformative journey into the future of payments. The timeless appeal of arcade games, blending seamlessly with modern technology, has sparked a renewed interest among gaming enthusiasts. According to TechNavio, the arcade gaming marketing size is estimated to grow at a CAGR of 1.99% between 2022 to 2027. The market size is forecast to increase by $1,984.1 million USD. From classic games like Pac-Man to the rise of VR-based arcade games like VR Agent, there is something for everyone at these game stations. Yet, the evolution doesn’t stop at gameplay. The way we handle payments has been experiencing a significant shift with the introduction of unattended payment solutions, particularly those embracing the future of transactions through contactless payment systems. 

Efficient Transactions: 

The era of fumbling for coins or tokens to continue your arcade adventure is a thing of the past. Integrated payment readers, armed with contactless payment options and digital wallets, have revolutionized the way customers settle their gaming expenses. A swift tap or swipe initiates a seamless gaming session, eliminating the inconvenience of physical currency and reduces transaction time. This not only heightens customer satisfaction but also encourages repeat visits, fostering a hassle-free arcade experience. 

Lower Operational Costs:

Juggling cash flow and managing physical currency is labor-intensive and a costly undertaking for arcade owners. Cashless payment systems come to the rescue by automating the payment process, reducing the need for manual cash handling and minimizing the risk of theft. With fewer resources dedicated to cash management, arcade owners can redirect their attention and resources toward enhancing the overall customer experience, investing in new game stations, or implementing revenue-generating initiatives. 

Adaptability to Trends: 

The gaming industry is so dynamic, with trends evolving rapidly. Unattended payment solutions play a crucial role in enhancing the adaptability of arcades to emerging trends, including virtual reality (VR) gaming, fitness simulations, and multiplayer experiences. These versatile solutions easily integrate with new technologies, affirming arcades’ position at the forefront of the ever-changing gaming landscape. According to Grand View Research, the market for new gaming stations with unattended payments totaled nearly $21.5 billion in 2021, with a continued growth of 6.5% CAGR over the next six years.  

Data-Driven Insights: 

Integrated payment readers provide arcade owners with valuable insights into customer behaviour and preferences. Leveraging the data collected from transactions, this enables arcade businesses to gain a profound understanding of popular games, peak operating hours, and even customer demographics. Being able to easily access these analytics empowers arcade owners to make informed decisions regarding game selection, pricing strategies, and promotional efforts. By tailoring their offerings to meet customer demand, arcades can optimize their revenue potential and stay ahead of industry trends. 

In conclusion, by streamlining payments, cutting operational costs, adapting to payment trends and offering powerful data insights, these innovative solutions are reshaping the arcade industry for the better. Embracing this evolution isn’t a step forward; it’s a leap into the future of arcade entertainment. 

Our unattended Ultra VXT payment readers enhance the user experience by streamlining transactions on game machines and accepting a host of digital payments. Our AVU Touch 21 self-service kiosk provides a convenient and efficient way for customers to manage their game cards and power them up. The KioPay mobile application ensures a user-friendly interface for quick and easy game credit top-ups. Beyond payment solutions, KioPlay also comes equipped with a robust SCOREBOARD management tool, empowering arcade owners to remotely track insights, usage, location performance, and daily transactions, providing a comprehensive solution for efficient arcade operations.

To delve into the future of arcade payments, contact us here.

References: 

https://www.technavio.com/report/arcade-gaming-market-size-industry-analysis#:~:text=The%20arcade%20gaming%20market%20size,increase%20by%20USD%201%2C984.1%20million.

https://www.grandviewresearch.com/industry-analysis/self-service-kiosk-market-report

KioSoft Appoints Charles Lim as CTO

Charles (Charlie) Lim, M.Eng, P.Eng, MBA, PLD
Chief Technology Officer 

(Boynton Beach, FL, Friday, July 15, 2022) As a part of our commitment to continuous innovation and in developing our next generation of technology-enabled products and services, KioSoft announces with pleasure the appointment of our new Chief Technology Officer, Charlie Lim.

Mr. Lim is an innovation-focused senior technology leader with >20 years of experience in driving cross-functional global programs, international partnerships, technology investments, and initiatives. He is currently the Chief Technology Officer for KioSoft where he oversees our technology teams and the management of our globally dispersed field devices and infrastructure being used by millions of users all over the world.

Previously, Lim led eSight’s transition from a revolutionary hardware company to an agile, mobile integrated, cloud computing and connected IoT device with an AI backend. Lim held progressive global senior leadership positions with IMAX where he led strategy, technology, and operations during key moments in the company’s rapid global growth in Asia and North America. He’s also acted as a consultant with MaRS Discovery District where he worked closely with technology startups to ensure their success and was a key player in building the MaRS technology innovation ecosystem that is now a large part of the Canadian Innovation Space. Prior to that, Lim was a technical lead engineer and has successfully led engineering teams developing leading edge fiber optic broadcast systems, consumer electronics and aerospace technologies that earned him the NASA Goddard Space Flight Center Award of Excellence.

Lim is a registered professional engineer by the Association of Professional Engineers of Ontario; holds an MBA from the Rotman School of Management at the University of Toronto and is an alumnus of the Harvard Business School. Lim is also an Advisory Board Member with Lighthouse Guild in New York as well as the Managing Director of the Veritas PLD Partners group in Hong Kong. Lim lives near Toronto with his wife and two children.

About KioSoft Technologies, LLC

Headquartered in Boynton Beach, FL (USA), with international offices in Toronto (Canada), Qingdao (China), Seoul (Korea), and Mexico City (Mexico), KioSoft has emerged as a global leader in unattended payments. Since 2002, the company has been at the forefront of self-service solutions, kiosks, payments, and integration technology. KioSoft provides clients with a complete systems approach including hardware, software, mobile app, and support tools as a single-source provider, thus ensuring a harmonious solution.

KioSoft’s CleanPay Mobile Laundry App Amasses Over 3 Million Users

(Boynton Beach, FL, Monday, November 22, 2021) As contactless methods of payment continue to gain traction worldwide, KioSoft’s CleanPay Mobile app for laundry has experienced dramatic growth, surpassing 3 million users. Residential laundry users and laundromat customers alike are gravitating to CleanPay Mobile as their preferred payment option – offering heightened levels of functionality and convenience at their fingertips. The pandemic has accelerated the transition to mobile payment and the adoption of cash alternatives, particularly in the wake of coin shortages. In fact, the user base for CleanPay Mobile tripled within one year, skyrocketing from 1 million to 3 million.

In 2017, KioSoft recognized how reliant today’s consumers were becoming on their mobile phones for getting day-to-day tasks done and realized there was a gap in the Laundry market. Customers no longer wish to fumble for coins and have transitioned to card or mobile app when it comes to paying for services. KioSoft strategically developed CleanPay Mobile to offer the option for payment via app in the Laundry Room.

CleanPay Mobile is available on both Android and iOS. This dedicated laundry app allows users to add funds, view machine availability, start machines, and request refunds all within a few clicks. There is even an option to share an account with your family members or roommates for added functionality. CleanPay Mobile also delivers real-time cycle notifications so customers know when to head back to the Laundry Room. The app is available to multi-housing laundry operators and laundromat owners and brings significant benefits to both, including:

• Greater revenue, as laundry users are not limited by cash and run more cycles
• Owning their customer data and being able to support their own customers
• Accessing KioSoft’s Washboard online portal – providing a cloud-based reporting and management system so that every detail can be tracked in real time
• Offline mode & Coin payment reporting
• Opportunity to brand the app

On average, operators have seen an increase of over 20% in net new revenue and a decrease of 10% in operational costs when making the shift to CleanPay Mobile in the Laundry Room. KioSoft also offers additional technology for flexible payment options including kiosks that allow for payment by Laundry Card and Pay-at-the-Machine Readers that accept laundry card, tap, swipe, insert and mobile wallet. The company recognizes that accessing data is an important part of running a business and provides clients with a comprehensive management portal called Washboard. Washboard combines web-based reader configuration, financial reporting, plus KioSoft equipment health & management and reporting. Also available to operators when needed is a dedicated, knowledgeable, and multi-lingual support team.

KioSoft is a world leader in facilitating the growing trend of cashless & unattended payments, with presence in over 35 countries.

About KioSoft Technologies, LLC:

Headquartered in Boynton Beach, FL (USA), with international offices in Toronto (Canada), Qingdao (China) and Seoul (Korea), KioSoft has emerged as a global leader in unattended payments. Since 2002, the company has been at the forefront of self-service solutions, kiosks, payments, and integration technology. KioSoft provides clients with a complete systems approach including hardware, software, mobile app, and support tools as a single-source provider, thus ensuring a harmonious solution.

KioSoft’s CleanPay Mobile Surpasses 2 Million Users

(Boynton Beach, FL, Friday, July 16, 2021) Mobile technology is revolutionizing payments; laundry is no exception. KioSoft is thrilled to announce that their industry leading mobile app for laundry payments, CleanPay Mobile, has surpassed two million users around the globe, and continues to experience rapid expansion. With presence in over 35 countries, KioSoft is a world leader in facilitating the growing trend of cashless & unattended payments. The CleanPay Mobile app is a prime example of contactless alternatives gaining traction in the market, as indicated by end-user adoption levels, customer satisfaction and the company’s market share worldwide.

The popular iOS and Android app has gained significant traction in the wake of the pandemic, in which coin shortages presented new challenges for laundry users. CleanPay Mobile offers the most convenient and simple way to pay for laundry in both residential laundry rooms and retail laundromats, providing an ideal solution that is contactless and clean. KioSoft has been a technology leader in the Electronic Payments space since 2002 and specializing in residential and retail Laundry industry since 2013.

CleanPay Mobile is specifically designed for the laundry industry and delivers heightened functionality at the users’ fingertips. This mobile wallet with stored account balance enables laundromat customers or residents of a multi-housing facility to activate machines via QR Code scan or by simply entering the machine number. Not only does the app enable starting the laundry machine, but it also provides users with full access to:

• View machine availability
• Alerts when laundry cycle is complete
• Purchasing machine credit
• Complete purchase history
• Ability to initiate refund requests and request support

Customers are not the only ones that substantially benefit from CleanPay Mobile – Operators also reap the benefits, including:

• Greater revenue, as laundry users are not limited by cash and run more cycles
• Owning their customer data and being able to support their own customers
• Accessing KioSoft’s Washboard online portal – providing a cloud-based reporting and management system so that every detail can be tracked in real time
• Offline mode & Coin payment reporting
• Enhanced mobile management functionality with KioSoft’s full-featured technician application, KioSoft Laundry Manager (KLM)
• Opportunity to brand the app

KioSoft prides itself in not being limited to Mobile payments, offering a full range of technology to cover all applications. The company also offers Kiosk technology that allows for payment by Laundry Card, where value can be added at a secure payment station. Additionally, Pay-at-the-Machine Readers present another effective option for accepting various forms of payment via laundry card, tap, swipe, insert and mobile wallet. KioSoft also provides clients with a comprehensive management portal, Washboard, which combines web-based reader configuration, financial reporting, plus KioSoft equipment health & management and reporting. Support tools are a necessity when it comes to operating a Laundry facility, which is why KioSoft created the mobile app, KioSoft Laundry Manager, where technicians can remotely update technology.

With presence in over 35 countries, KioSoft is a world leader in facilitating the growing trend of cashless & unattended payments. Their CleanPay Mobile app saw a dramatic spike in users in the wake of the pandemic, jumping from one to two million in a period of 9 months.

About KioSoft Technologies, LLC:

Headquartered in Boynton Beach, FL (USA), with international offices in Toronto (Canada), Qingdao (China) and Seoul (Korea), KioSoft has emerged as a world leader in unattended payments. Since 2002, the company has been at the forefront of self-service solutions, kiosks, payments, and integration technology. KioSoft provides clients with a complete systems approach including hardware, software, mobile app and support tools as a single-source provider, thus ensuring a harmonious solution

Consumers Turning to Unattended Payments Amidst the Pandemic

Trending Away from Cash – Consumers Abandon Cash, Turning to Contactless & Unattended Payments Amidst the COVID-19 Pandemic

COVID-19 has impacted our world in many profound ways, including payment preference. One of the most widely adapted COVID-19 trends amongst consumers is abandoning cash. With heightened awareness that the virus can be spread via shared surfaces or through human-to-human contact, 80% of Americans prefer payment with a card, and only 26% consumer transactions in the US are paid with cash (spendmenot.com). This new attitude toward cash, as well as many Americans staying home, has caused a coin shortage in the US and Canada, affecting several traditionally coin operated industries like laundry (slates.com 2020). Of course, the world will soon return to normal, but certain behaviors and inherent concerns will remain. Knowing what we now know about transmission of viruses, the consumer mindset is forever changed with regards to cash. Sanitation will remain a greater concern in a post-COVID world, and distancing from unnecessary human-to-human interaction will remain top-of-mind.

Contactless payment options can eliminate those fears as consumers do not have to touch payment readers or even interact with other people. At KioSoft, we saw an increase of 78% within 5 months (August 2020 to February 2021) in our CleanPay Mobile payment app users, jumping to 1.6 million. CleanPay Mobile allows users to top up their balance on their phone and start their laundry cycles via QR code scan, so the payment process is completely contactless. Not only has the number of mobile payment app users increased significantly, but we have also seen heightened demand from laundry operators for our new contactless payment readers which offer flexible payment options including tap, swipe, Google Pay & Apple Pay and CleanPay Mobile.  This is largely because consumers are trending away from cash/coin and migrating toward contactless and mobile payments. 

Advantages of Contactless & Unattended Payments

As the name implies, contactless payments eliminate all forms of contact in the payment process. There is no human-to-human contact, entering PIN codes, swipe, insert or cash/coin.  Unattended payments do not require the presence of a store attendant. This self-serve concept is paving the future of the payments industry not just at gas stations and ATMs but also grocery stores, parking garages, public transit, vending machines and more. Not only do contactless unattended payments lower the risk of germ transmission, there are also many more benefits such as lowered overhead costs, transaction speed, reduced labor costs, increased customer satisfaction and the competitive advantage of Grab and Go (globalpaymentsinc.com 2019). 

Overhead costs can be significantly lowered by implementing an unattended payment solution. Expand outside of brick-and-mortar locations with unattended payment kiosks and benefit from extended hours, a reduced footprint and managed overflow. By partnering with KioSoft, these unattended payment devices require no upkeep and can be both weatherproof and vandal proof for outdoor application. With unattended payment solutions, the entire consumer experience is self-serve, so the presence of a staff member is not required, thus saving on labor costs. In today’s fast-paced world, consumers are used to having everything at their fingertips and are always looking for convenient options when it comes to purchasing an item or service. Unattended payments have become a huge competitive advantage as consumers can essentially grab & go quickly and safely, instead of having to line up in stores and wait for the store attendant to serve them. Furthermore, unattended systems are accurate as there is no potential for human error or verbal miscommunication.

The Importance of Connectivity & Reporting

With a presence in over 35 countries, KioSoft is a world leader in facilitating the growing trend of cashless & unattended payments. Major cities in China, for example, are almost completely free of cash purchases as approximately 92% of citizens have switched to the mobile apps WeChat and Alipay for payment (daxueconsulting.com 2020). This trend, though slowly adopted in North America over the last 5 years, has grown exponentially since the pandemic hit. Some of the key components in operating a business with cashless payments are connectivity and reporting. 

Unattended payment devices require a wireless connectivity infrastructure. The key elements are routers with combined Wi-Fi and cellular network connectivity. KioSoft offers complete wireless connectivity solutions that are crucial to the success of your business, making sure you are always up-and-running.

Reporting plays a large role in managing finances and consumer purchasing trends at your locations. With unattended payments, instead of counting coins at the end of the day, business owners can simply log on to their portal and see all the purchases made that day. KioSoft understands the need for unattended systems management via an intuitive portal interface. We provide our clients with secure enterprise portal access where not only can they view real-time financial data, but they can also view the machine status and troubleshoot any issues. Settings (such as pricing) can be configured remotely, across multiple locations. Our mobile applications provide customers payment capability, but also give them access to important information. They can easily view their purchase history, real-time machine status as well as request a refund or report an issue with a machine. Meanwhile, facility managers can view daily activity through the convenience of our industry-specific management apps. We recognize the importance of continuously improving, adapting, and developing technology to meet clients’ demands while offering ease-of-use to end-users

Bottom Line

The world has changed tremendously over the last year. Some of these changes, such as the migration to digital currency and unattended payments, are here to stay. With safety being of the utmost importance for today’s consumers, they are choosing to ditch cash and are transitioning towards contactless payments like tap or mobile wallet. Additionally, there is a growing demand for unattended payment systems that eliminate the need for potentially risky human interaction. Adoption will garner trust from your customers as a business that looks out for their wellbeing and caters to their needs. 

You don’t have to make this change alone – consider KioSoft your one-stop shop partner for the successful Integration of all things Unattended. We provide hardware, software, and support tools that are customizable to your environment. Access and control over your communication portfolio is vital. KioSoft also provides the tools and flexibility you need to properly manage your Wireless, and we have the vision to bring you more. No matter what your unattended application may be, KioSoft will provide you with a complete solution with more flexibility, better uptime, and instant access to vital information. Our powerful, unattended payment solutions include:

• EMV, Chip, NFC, Mobile Wallet, and mag stripe payment acceptance (model dependent)
• Branded mobile app payment solutions
• Wireless connectivity for seamless transactions and telemetry to our reporting system
• Focus on solutions that provide efficiency and cost effectiveness 

Contact us today to learn more.