Cash(less) is king

With the use of cash rapidly declining, what new payment choices should be offered on campus?

Choice, speed and convenience should be front of mind when selecting a payment system on campus. The key to a slick service is being in tune with the needs of your students, exceeding their expectations and maximising on the sales opportunities. Choosing a flexible system that accepts all types of payment can make a noticeable difference to the student experience, increase engagement levels and, more importantly, future-proof your investment.

Why is contactless functionality important?

It’s important not to underestimate the level of expectation from students when it comes to payments. Paying with contactless and mobile phones has now become mainstream in all areas of life, and on campus is no exception. Providing fast and convenient payment options plays a vital role in maintaining an efficient catering service and enhancing the overall customer experience.

What are the differences between contactless and closed user schemes?

The key difference here is customer data: while contactless alone gives you fast payment, it does not share any of the transaction detail and it cannot be personalised in any way; it simply processes the payment. In contrast a closed-user solution like VMC Flex gives you full visibility of all payment data in real time through a web-based management portal. This provides unique insight on your students’ habits and preferences, and provides a vehicle for offers and marketing messages to be delivered directly to the students via the app and online user portal.

What additional benefits do closed user systems offer?

In addition to providing valuable customer data, a closed user system like VMC Flex creates a more versatile and seamless experience to encourage increased spending on campus. The system can combine contactless, mobile and closed UniCard payments, while also integrating other key services like ID, library, vending, retail, student union, printing and much more. It provides students with 24/7 online account access and a feature-packed Mobile App with click & collect and meal deal options, plus a virtual loyalty scheme that targets and rewards students directly. All of this can be personalised with your own branding for a consistent look and feel.

How important is mobile technology in the delivery of payment systems?

Mobile phones play a huge role in student life, with the use of apps to complete daily tasks now becoming the norm and, as a result, students are never without their phones. The VMC Flex App presents a prime opportunity to engage with your students and deliver offers and promotions directly to them, while the VPay feature enables them to pay from their UniCard account using their mobile phone and earn rewards through a virtual loyalty scheme. Our belief is that if a scheme is intelligent enough to observe what your students like to eat and drink, makes it easy to re-order those items, and can tailor special offers and rewards around those preferences, then it should also generate increased customer satisfaction and repeat spending.

To find out more about how our payment solutions can be tailored to your campus needs, please contact our Business Development Manager

Twitter: @VMCcashless

Linked In: VMC Cashless Payment Systems

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