Even in the digital age, many people still prefer using cash to make payments. Some industries that initially entered headfirst into mobile and card-only payments that didn’t support cash are now having to rethink that strategy. Here are some industries that have recognized consumer demand for cash and the convenience of kiosks and are making the most of both trends.
Amazon launched self-checkout stores without the ability to pay in cash, which caused tremendous backlash as it prevented the underbanked segment of our society from shopping at these new stores. Amazon quickly reacted and has since launched its new Amazon “Go” stores that accept both cash and electronic payments.
To help the City of Chicago process billions of dollars each year in annual revenue, 18 self-service kiosks were deployed throughout the city in community-focused locations such as payments centers and libraries. Surprisingly, 47% of all kiosk payments were made with cash, the highest percentage of any payment category, even higher than credit cards. The kiosks have been very successful, attracting many people who prefer this method for its convenience and flexibility of payment. Chicago recognized that 8.4 million households in America are unbanked, and of those households, about 66% prefer to pay their bills with cash. Tina Consola, first deputy director of Chicago’s Department of Finance, spoke on the importance of cash kiosks “It’s important to serve customers who primarily pay in cash, because they may not have access to a checking account or credit card.”
Healthcare payments have historically been inconvenient with inflexible options. Fortunately, that is changing. The healthcare industry is continuously making strides towards improving the experience of healthcare payments. Healthcare providers realize that patient experience is a priority and are working towards optimizing payments. Patients want more convenient options such as self-service that they can access at times that work for them with the payment choices they prefer. Kiosks can simplify the payment process by offering all payment options in one convenient, secure location. It is also better for healthcare providers as it eases the amount of paperwork many facilities have to go through. In addition, older generations are more likely to see a healthcare provider regularly and are more likely to utilize cash as their primary payment form. Healthcare kiosks offer the convenience of self-service alongside flexible payment options, making them a better experience for patients.
The way people buy cars is changing, and it is important that auto dealerships change to meet the new demands of customers. Customers want convenience and speed, which means the traditional model of purchasing a car may have to change. There are many options smaller dealerships can take to keep up, but one option that many have been turning to, is cash kiosks. Not only are kiosks in auto dealerships more convenient for customers, but they also ensure fewer errors and reduce security concerns. In addition, cash kiosks speed up the transaction process. This allows the dealership more time to form better relationships with their customers and gives the customer the quick transaction they were hoping to have. Kiosks are immediate for the payer and results in faster deposits for the dealership, by avoiding cash sitting idle in the cash drawer or vault. Customers prefer more options and installing kiosks in the dealership provides convenience for customers and optimizes the car purchase experience from search to payment.
These are just a few industries that are benefiting from the use of cash kiosks. Contact us today to learn how a QuotePro Kiosk can make it easy for you to accept cash in any type of business.
Phone: (312) 654-8045 #110