In a modern world where businesses are seeing consumers desire to reduce line wait times and learn to service themselves. The consumer demand for a cashless society is increasingly becoming more and more popular. A businesses decision to add cashless programs can increase in park sales between 25% – 40% for US consumers per-visit. Creating a simple checkout process for cashiers helps the company be more productive in the workplace and limits the amount of cash an employee will handle day to day.
Cashless programs provide benefits to the consumer and the business in many ways:
Reduces Crime – Creates a safe environment
Going cashless protects your revenue by reducing the risk that cash can be lost or stolen because there is no tangible money to steal.
Time Saving – No need to balance cash
Closing and balancing tills is easier than ever! No cash means no reconciling a till or worrying about cash handling procedures. End of night closing times are reduced leaving you time to spend in other areas of the business.
Quicker Check Out – Service more customers
Processing payments faster allows you to service more customers and provide better services. Therefore, a happier customer and a better guest experience. No more handling wet or dirty cash!
Secures Your Revenue – Pre-authorized hold
Knowing that a customer has the funds to charge to their cashless tab protects your products and services from being lost to a declined payment.
Increases Profits – Encourages customer spending
When a consumer opens a cashless tab, they will more often choose to make in park purchases. The consumer is less likely to track their in park spending as much as they would with cash.
Customer Convenience – Issue waterproof bands
Whether it’s an RFID band or a wristband printed with a barcode. Consumers can charge to a cashless tab at the ease of a scan or a simple tab name search. No need to carry around credit cards or cash. Leaving these items secure in a hotel room or day locker.
Consumer analytics – Know what your customers are purchasing
Collecting customer data and understanding what products a consumer is more likely to purchase will allow you to create smart analytics. This give you the ability to target those who fit the criteria of the promotion you may want to offer.