Traditional coin-only laundromats have been around for decades. Today, consumers are looking for more convenient payment options. Newer laundry payment methods allow for faster payments, more options, safety benefits and much more. For the owner, the right laundry system can also streamline operations, increase profits and expand your customer base while improving the loyalty of existing customers.
Of course, each system has different features to consider, and every laundromat is unique. Let’s go over some of the things to look for when choosing a laundry payment system.
7 Factors to Consider When Choosing a Laundry Payment System
Is your current laundry payment system outdated, making it frustrating for customers to use and for you to manage? Updating your laundry payment system allows you to offer more options to your customers, which is necessary in today’s modern world of convenience and versatile consumer preferences. Before investing in a new laundry payment system for your laundromat, you should consider if it will add new payment methods, management solutions, loyalty integrations and other valuable features that we will discuss in greater detail in the next section:
As you shop for a laundry payment system, consider the following factors.
Payment Types Accepted
One of the most significant benefits of modern laundry systems is the ability to accept a variety of payment types, including:
– Swipe or chip-based credit and debit cards.
– Tap-and-go contactless credit cards and debit cards.
– Near-field communication (NFC) mobile wallets, including Apple Pay, Google Pay and Samsung Pay.
– Loyalty and laundry cards.
– The option to keep coin payments.
How you pay is a major part of the customer experience. If you need to search for quarters or run to the ATM to take out cash, then convert it to coins in the laundromat and plunk them in individually, you must complete many cumbersome steps to wash your clothes. Compared to the simple option of holding your card or phone near the terminal and waiting for the ding, it seems rather old-fashioned. Customers like these modern options and look for laundromats that make their wash process simple, quick, secure and safe. The payment options you accept can be one of the most influential reasons a customer goes to your laundromat over your competitors’.
With multiple payment types, customers have the freedom and convenience to pay in the way that works best for them. People have certain preferences, and the more you can offer, the more customers you can satisfy. It widens the scope and simplifies modern payments within one easy system.
Safety & Cleanliness Concerns
In the wake of COVID-19, contactless payments saw a huge spike in popularity. In early 2021, almost two-thirds of consumers said they would prefer contactless payments as much as or more than they currently were, even after the vaccine was available. Contactless payments allow users to limit the physical touch between themselves and the payment terminal. It’s a great way to minimize the spread of germs and help people feel safer when doing everyday tasks like laundry.
Customer Preferences
Laundromats serve all kinds of clients in a wide range of locations. From your everyday users in commercial laundromats to university students, RV park residents and truckers, your clients can come from all walks of life. They have differing preferences. Older customers may prefer to use cash, while younger clients often like contactless laundry systems. A small, rural town may be fine with cash and traditional card swiping. At the same time, a bustling city laundromat could have clients more concerned about convenience and contactless technology.
Credit and debit card laundry systems might work well for some customers, while others might want coin-based or cash-based payment options as well.
With so many potential preferences, your best bet is to offer as many options as possible to satisfy all types of customers. Even if your existing clientele is happy with one method, adding options could draw in customers you never even knew were in your area.
Your Competition
Being proactive as opposed to reactive is the best way to achieve success. Cashless laundry systems can also give you a leg up on the competition. If your biggest competitor is still only taking cash payments, offering contactless options puts you at a significant advantage, especially for the modern consumer. You can bring in more customers with a convenient option and keep your loyal visitors from heading to the laundromat across the street. Adding these types of systems before your competitor is very important as it allows you to capture that customer base and keep them through convenience and loyalty programs.
Long-Term Viability and ROI
Remember — contactless payments are here to stay. With a compound annual growth rate of 20.3% from 2021-2028, contactless payments are an excellent way to prepare your laundromat for the future. Investing in cashless laundry systems allows you to futureproof your payment strategy and be ready for any way your customers want to pay.
When spending money on a payment system, you want to focus on long-term ROI and make sure the system you are purchasing has all of the necessary features to grow with you for the foreseeable future.
Consider what else your payment system can offer, such as loyalty programs, customer apps and remote management. These are great features to have, and if you think you’ll want them someday, integrating them with your payment system can help you get a head-start and avoid compatibility and obsolescence problems in the future.
While the payment system you invest in is important, equally as important is the manufacturer of the payment system that you partner with. The vended laundry industry has seen many payment companies enter this market only to leave it a couple years later. This leaves the laundromat owner who invested in these systems with little to no support. It is important to select a payment partner that shows longevity, innovation, and expertise in the commercial laundry market.
Ease of Management
Owners of coin-only laundromats must go through a manual, tedious process to report revenue and individual machine usage. They must constantly empty money boxes and log collections. This is a very time-consuming process, especially if you’re a multi-store owner. Try reading our article about being a new owner of your own laundromat and managing it!
A comprehensive laundry payment system can track the cash, card and mobile-wallet-based payments that go through your machines. You can manage payments from any Internet-enabled device and generate reports for the money you’ve collected in all forms.
Don’t forget about customer-side account management, either. Another stand-out feature you can find in a payment system is apps that your customers can use to reload their cards, see washer and dryer availability and make contactless payments.
Loyalty Program Integration
Loyalty programs keep your customers coming back and make their experience easier and more rewarding. Integration with your payment system can make it even more convenient and straightforward — no punching in phone numbers or checking in with an employee to earn loyalty rewards. With cashless integration, you can offer bonuses like free washes after a certain number of uses or free dry for card-based customers. These systems give you unmatched flexibility, which coin-only stores can’t compete with.
Learn How SpyderWash Can Help Improve Laundry Payment
SpyderWash is an all-in-one laundry payment system that allows you to take payments in just about any form— credit/debit card, loyalty/laundry card, contactless (via NFC mobile payments and Tap & Go credit/debit cards) and coin. With a modern addition to your laundromat payment system, you can attract new customers, satisfy existing ones, and futureproof your facility.
SpyderWash offers all of the features mentioned above, allowing you to choose the best laundry payment system so you can take advantage of a variety of benefits to both your customers and yourself. We’ve been in business for over 50 years and have a long-standing history in the payment technology space. Reach out to a knowledgeable representative today to learn more about what SpyderWash has to offer.
By Setomatic Systems on November, 15 2021
