Since cash redemption terminals entered the market, they have streamlined the operations on gaming floors worldwide. Patrons can discreetly redeem cash for tickets from the terminal, saving venues money and converting behind-the-counter staff into gaming floor attendants who can enhance the customer experience.
As with most things, when everything is going well, you will barely notice your cash redemption terminal as it 'gets the job done' quickly and efficiently and receives its regularly scheduled maintenance. Unfortunately, some of Australia's cash redemption terminal (CRT) vendors are unreliable and this can result in unnecessary downtime for the device.
When a terminal breaks down, it causes a major disturbance on the gaming floor and negatively impacts the customers' experience in your venue. Patrons accustomed to anonymously redeeming tickets for cash are forced to visit staff, who are also pulled from their regular duties to work the gaming counter. On a busy night, any broken payments system could impact gaming revenue.
With all this happening, what's worse is the sub-par phone support of many terminal vendors, meaning licensees are spending their days and nights on the phone trying to get their machines back online.
Why are so many cash redemption terminals breaking down?
Unfortunately, many cash redemption terminals are being produced with poor quality or untested components (or both!). This leads to more breakdowns, more emergency servicing and more downtime for venues.
A common problem with some cash redemption terminals is a failure in cash dispensing and a consequent short pay. Your patron ends up with some of their cash in hand and a ticket for the rest that they need to redeem with staff. Avoid this problem by choosing a cash redemption terminal with 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 ticket to redeem. Simple for both the patron and your staff.
Are you thinking, "changing vendors is too much of a hassle"? Take a moment to way up the costs of downtime listed below compared to the several hours it might take to change to a more reliable vendor. We think you'll agree - it's a no-brainer!
What is cash redemption terminal downtime costing venues?
With broken down terminals, additional staff and cash floats are required to handle payouts meaning higher costs. Manual payouts also mean more chance of human errors like double payouts, costing your venue money.
When staff are manning the gaming counter, they aren’t on the gaming floor improving the gaming experience for customers by serving drinks and offering a friendly smile and assistance. Not only this, but customers are annoyed and inconvenienced. They are accustomed to a discreet two-step automatic payout process and now they are having to walk to the cashier and redeem via a more time-consuming manual process. An “off-line” cash redemption terminal could put patrons off gaming altogether, losing revenue for your pub or club.
While these direct effects of downtime are obviously significant, there are also indirect costs which are a little harder to measure but are still tied to a loss in revenue. Consider the loss of reputation when systems like cash redemption terminals go down and you can’t meet your commitment for a fast and discreet payout for patrons. Also, think about your loss of opportunity, did a big fish happen to be in your pub or club while your terminal was down? Will they come back knowing your venue may not be able to provide the service they were looking for?
Due diligence is key when you're looking to either purchase a cash redemption terminal for the first time or change vendors. Look for terminal vendors like Banktech with a reputation built on years of service and reliability. Also, be on the lookout for 24/7 phone support based locally in Australia and in the field technicians like the ones employed by Banktech.
Don't only research cash redemption terminal vendors themselves but also ask peers in pubs and clubs. Here are a few pertinent questions you can ask fellow licensees to get a feel for a vendor:
- Have you had downtime with your machine?
- How was it handled?
- How was the quality of support?
- Would you recommend the vendor to a friend or colleague?
Need more help?
Choosing the right cash redemption terminal vendor for your business is an important process and is one that includes many points of comparison. To help you find the best fit for your pub or club, download our Ultimate Cash Redemption Terminal Buyer's Guide here.