With the rise in self-service technology across Australia and the globe, cash redemption terminals have become an essential touchpoint for many customers of pubs and clubs. Now with touchscreens, LED lighting, in-house advertising and cloud-based monitoring, cash redemption terminals have joined the digital age.
When considering any payment or cash management solution, it's crucial to think about the latest trends and what the future holds for cash management in pubs and clubs.
In this post, we share seven of the latest cash redemption trends you should be considering, so you can choose the right terminal for your business.
Cash redemption trend 1: Large screens with plenty of opportunity for in-house advertising
With Australians drinking less and less, savvy venues are looking for new streams of income like holding events (dog dating anyone?), mixing up their menus, loyalty programs and revamping function spaces. With all this entertainment to be had, pubs and clubs need new ways to promote and that's where cash redemption terminals come in.
Most standard terminals feature full-screen advertising for promoting upcoming events, special deals and loyalty programs while the machine is idle. Size up to extra-large models for options that include eye-catching customisable colour borders and large sleek LED screens. Also look out for dedicated always-on advertising that's set up via cloud-based software plus optional secondary advertising when the machine is idle.
Cash redemption trend 2: Intuitive and easy-to-use touch screens
When it comes to poor user experience, the issues are obvious and people remember them. That's why it's so important to choose a cash redemption terminal that is easy to navigate and simple to understand.
Any easy-to-use and intuitive terminal is not only going to enhance your patron's experience, but it's also going to cut down on staff training hours and costs. Choose a machine that allows patrons to redeem their gaming tickets for cash securely, privately and easily without the need for venue staff involvement.
Cash redemption trend 3: Fast and reliable processing
Just like a poor user experience, unreliable or slow cash processing is conspicuous and will leave a bad taste in your pub or club patron's mouth.
To avoid issues, such as short pay (when a terminal runs out of cash in the middle of a pay out), choose a cash redemption terminal which uses bunch presenter technology. In cases where the terminal doesn't have the required cash within, it won't spit out some of the cash, instead, it will provide the patron with just a short pay ticket to redeem the full amount. Simple for both the patron and your staff.
Cash redemption trend 4: Tried and tested components
When you purchase a product, you expect it to work. Especially if it is a customer-facing piece of technology like a cash redemption terminal. Any failure of the product will also reflect badly on you as a venue manager.
The best way to ensure your new cash redemption terminal has maximum uptime and minimum issues? Choose one that has been developed using tried and tested components. Banktech, for example, uses its tried and tested ATM components in its CRT machines. Known as a vendor of reliable devices spanning 25 years, Banktech would be a safe bet if you’re looking for maximum uptime.
Cash redemption trend 5: 24/7 support and on the ground field technicians
No matter the quality of the machine, it is inevitable that a cash redemption terminal will go down at some stage. And when that happens you need to know you've got access to all the support you could wish for. Look for a vendor that offers:
- 24/7 365 days a year phone support with an in-house help desk centre
- Local field technicians who are employees rather than contractors, and who therefore know the devices like the back of their hand
Remember: If you're going to spend a large amount of money on a piece of equipment, you need to invest in a supplier that you know will be able to respond quickly and effectively if something does go wrong.
Cash redemption trend 6: A night-rated safe
Something you may not have thought about is making sure your cash redemption terminal includes a night-rated safe. This means you can keep cash in it overnight (saving you on staff labour costs or getting you out of work sooner!) without jeopardising your insurance policy. Look out for the words "CEN L CIT insurance rated safe" during your research.
Cash redemption trend 7: Future-proofing
By purchasing a cash redemption terminal, you'll want to make sure that investment is future-proof. How?
The future of cash redemption terminals lives in the cloud, so ensure your terminal is equipped with a cloud-based central monitoring hub, giving you real-time analytical, statistical, monitoring and reporting data from any internet-capable device.
Hot tip: Partner with a vendor who has a dedicated and dynamic software development team ready to move your cash redemption terminal into the future and follow market trends.
Choosing the right cash redemption terminal for your pub or club can seem daunting, but making sure your choice is up to date with the latest trends is one way you can future-proof your business. Trends like intuitive touchscreens, reliable components and 24/7 support are all essential to keeping your pub or club relevant in 2019 and beyond.
To assist you in choosing the best cash redemption terminal for your venue, download the Ultimate Cash Redemption Buyer's Guide for your venue here.