Challenge
Speed Queen, a leading manufacturer of commercial laundry equipment, faced challenges related to cash payments in their machines, including vandalism and the cost of handling cash.
Solution
Speed Queen went cashless with UnattendedPayments from ĢƵ – a solution that supports tap-and-go payments through cards and mobile wallets.
Benefits
The transition to cashless payments significantly increased Speed Queen’s revenue, with increases ranging from 25% to 400% across its different sites. The convenience of card payments improved customer satisfaction and reduced the operational burden of handling and securing cash.
“The cutting-edge tech of Speed Queen matches very well with the ĢƵ solution, with card payment systems, we’re the only manufacturer that’s able to offer a per machine card payment system, which is unique in the commercial laundry industry.”
Jason McSweeney
CEO, F.L. Costello and Co, a Speed Queen Distributor
LegendaryReliabilityMeetsPaymentsInnovation
Speed Queen is the world’s largest manufacturer of commercial laundry equipment.Its machines are legendary for their reliability, underpinningthe high performance its customers love.
For 110 years, SpeedQueen’sfocus on cutting-edge control technologyhas made it a market leader.Takingtheir fleet of launderette machines cashlesshas been made possible by the adoption of tap-and-go payments via integrated UnattendedPayments terminals from ADVAM, a ĢƵ company.
Quick Payback
ĢƵ’ UnattendedPayments is the end-to-end solution that enables businesses to accept cashless payments via cards and mobile wallets. Adopting card payments has greatly increased revenue for Speed Queen, which in turn has laid a strong foundation for further growth.
“The least that we’ve experienced to date has been a 25% increase in revenue, with the largest site being a 400% increase in revenue. This is obviously a great benefit to the business and very quickly pays back the capital expense of putting card readers on machines. The new solution has increased the overall reliability of machines, while also reducing incidences of vandalism, which previously risked taking machines out of action and disrupting revenue. There’s no cash left in the machine, so there’s no incentive for people to break into them and destroy them. We don’t have bent coins and jammed coins – they are a thing of the past”. – Jason McSweeney
Happy Customers, Secure Payments
Customers prefer the modernised payment experience offered by UnattendedPayments, while eliminating the burden of cash handling has increased operational efficiency for Speed Queen.
“People like using the convenience of a card and they don’t have to carry change. We don’t have to have a change machine, which is a major security issue – the tap-and-go solution completely takes away the need for cash.” – Jason McSweeney
Further security is provided by the fact that ĢƵ’ UnattendedPayments terminals are fully PCI PTS 5.x compliant, meeting the latest and highest level of Secure Reading and Exchange of Data security requirements.
Improved Cash Flow
At the back end, Speed Queen benefits from the ĢƵ payment processing platform. This is a sophisticated payment processing engine based on ĢƵ’ proprietary infrastructure, which ensures clients’ and their customers’ payments are processed quickly and securely.
“Through the ĢƵ payment processing platform, we get the payments cleared every night. The payment platform reports live and if we have to make refunds, it’s a two–click process. We can do it from a mobile phone, from our desktop computers. It’s a far better user experience for laundry customers.” – Jason McSweeney
Day-to-day support and software updates to the terminals can be activated remotely, simplifying deployment. And, in the event of support issues, the ĢƵ 24-hour help desk is always on hand. “That is second to none for any business I’ve been involved in. The technical support is around the clock and excellent,” added Jason.
Easier Payments Mean Faster Growth
Ultimately, making it easier for customers to pay is always good for business, and UnattendedPayments from ĢƵ is engineered to deliver an enhanced and reliable payment experience backed by the latest security standards.
“ĢƵ has been the perfect partner in allowing us to make more money through extra revenue, and the support and backup from ĢƵ has allowed us to expand our business,” concluded Jason.
To learn more about how ĢƵ technology makes it easier for consumers to buy the things they need — reliably, efficiently, and securely – head to /solutions/payments/complete-commerce/unattended/