Family entertainment centers (FECs) have since transitioned to cashless and contactless from its humble beginnings of coin-operated hardware, games, and attractions. The COVID-19 pandemic accelerated the rise of cashless payments. Research finds that 71% of point-of-sales payments come from debit and credit card transactions. The remaining 12% are payments made from digital wallets.
Incorporating an arcade machine card reader to your FEC business will increase your facility’s security and verify transactions, freeing up your staff from tedious ID verification for every single card payment. Aside from this layer of ease and security, a recent study shows that 90% of consumers prefer using debit or credit cards to pay for goods and services. 83% of consumers also prefer cashless mode of payments, and when they do, they tend to spend more. This means more profitability for your FEC. In this article, we will emphasize the top benefits going cashless with a card reader into your FEC business.
What is a Card Reader?
In general, a card reader is a hardware that processes either physical card transactions or digital wallet payments, allowing customers to use their preferred payment method. This is usually built on a POS or point-of-sale system and provides a customer’s card/digital wallet details for payment processing. From a business standpoint, you get valuable sales reporting through the software tied up to the system, allowing you to see your guests’ patterns and spending behavior. Card readers can also help consolidate payments with business tools and insights at the backend.
Benefits of Using a Card Reader
Here’s what you’re missing out on arcade machine card readers:
1. Better Security
The speed, accuracy, and efficiency of accepting card payments through readers are essential to maximizing your staff’s overall productivity. Receiving payments through card readers modernizes your FEC’s ability to process payments, as you now get to offer other modes of transaction other than cash, which is prone to theft and other security risks, like bringing thousands of dollars in cash/coins to the bank every close of the payment cycle.
2. Reduced Accounting Errors
Investing in arcade machine card readers also reduces the risk of human error in cash handling methods. Counting coins and giving change can easily incur mistakes that will affect your accounting backend. Since card readers are built as part of a POS system, transactions are consolidated accurately at the backend, giving you and your staff more time to focus on the guest experience instead of calculating possible losses to costly cash handling errors.
3. Actionable Insights
Thanks to customer information from card transactions going through the reader and POS, you now have access to valuable data you can leverage to improve the guest experience at your venue. You can assess your average reload value per card transaction and see how you can design offers and promotions that will further increase your profitability. This may include exclusive bundles or loyalty points/rewards when reloading a certain amount via card payment.
4. Payment Integrations
With arcade machine card readers, you can integrate the hardware with the terminal to provide a broader platform with a simple and integrated payment system. This means that you can efficiently organize and reconcile both online and in-person payments, creating a holistic payment processing experience that:
· Simplifies the transaction process.
· Reduces the need for multiple payment systems across different offerings and attractions at your FEC.
· Streamlines operations and back-of-house management.
Increase Business Revenue with Card Revenue
So, are you ready to purchase your card reader system? Go for an arcade machine card reader with a technology that’s well-known for its contactless features and speaker-audio and touchscreen capabilities. Visit the link and get the card reader today.
Whatever business you plan to operate, your customer satisfaction is tied to the ease of your payment experience. At the end of the day, you wouldn’t want to give your guests time-consuming and high-friction checkouts. Equip your business with readers that can quickly and easily accept swiped, inserted and tapped card payments and foster a better customer experience.
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