Eliminating Coins on Your Property
Community laundry industry studies have shown that approximately 30% of residents leave their property to do their laundry. The number one reason they leave the property…residents don’t have exact change to do their laundry. Coin-operated washers and dryers defy today’s U.S. consumer payment trends where digital payment volume (e.g. debit, credit, prepaid, mobile app) has surpassed coin and paper-based payment methods. These consumer trends have led Automatic Laundry over the past 30 years to migrate away from coin-operated laundry equipment to card and mobile app-based laundry payment systems where today, almost 90% of Automatic’s volume comes from digital payments.
Additionally, residents are finding it more difficult to find quarters due to the circulation problem created by the pandemic when business as usual came to a grinding halt. On its website, the Federal Reserve notes there’s an adequate overall amount of coins in the economy, but business closures disrupted normal circulation patterns and reduced coin availability in many areas of the country.
Property Benefits
Card-operated laundry equipment encourages residents to do laundry on-site by eliminating the number one reason residents leave the apartment building to do their laundry…they don’t have enough quarters. A smart card laundry payment system creates loyalty as residents return to their community laundry facility since they have money on the card.
Additionally, card-operated laundry equipment allows for total pricing flexibility so vend prices can be programmed to change annually to better manage ever-increasing water and utility costs. Washer vend prices can also be varied to charge more for hot water cycles and higher soil level washes.
Lastly, card payment systems provide for complete revenue accountability to property owners and managers with an easy, accurate way to audit the revenue being generated from the community laundry facility.
Providing convenient amenities to residents leads to increased laundry machine usage. Coupled with incremental pricing changes and revenue accountability, property owners will recognize higher revenue for their property.
Resident Benefits
With card-operated laundry equipment, residents no longer need to keep a supply of quarters in their apartment in order to do their laundry. Residents only need their laundry smart card or debit/credit card with them to do their laundry. Refunds to residents can be made instantaneously as card payments systems provide a remote resolution. No need to wait for a refund check. All of this adds up to a more convenient experience for residents.
