As a cinema operator, it’s easy to see the direction cash use has taken in recent years and start to seriously consider moving entirely to digital transactions. After all, cash accounted for only 18% of all payments in 2022, a decline of 2% from 2020, and 82% of all Americans have at least one credit card. In fact, 81% of shoppers prefer to pay with a card over cash, and 72% of consumers are likely to use credit cards for a transaction even if they have cash on hand.
Cash handling requires an investment in time and money. It makes staff less efficient in processing customer orders, leading to longer lines and fewer sales. It also requires managers to dedicate time to reconciling sales receipts that could otherwise be spent on more customer-facing tasks. If consumers prefer a cashless lifestyle, why not simply embrace the future and consolidate resources by only accepting cashless payments?
Before you fully transition to a cashless operation, consider how cash-to-card kiosks can help bridge the gap. Ready Credit’s innovative kiosks allow your cinema to accept cash without the complexities of cash handling, making the transition to digital transactions seamless while keeping your theater inclusive of the payment preferences of all customers.
Learn how Ready Credit can streamline your operations and enhance customer satisfaction today.
While cash may no longer be king, it still influences how many consumers prefer to pay. Continue reading as we examine the role of cash in transactions, why businesses need to consider all customers’ payment preferences, and how self-service kiosks are the key to the cashless revolution.
Cash Still Plays a Role in How Many Customers Prefer to Pay
Even as cash use continues to decline, it still remains a powerful force in how many people prefer to pay:
- 14% of American consumers use cash for all of their weekly transactions.
- Over $780 billion in ATM withdrawals were made last year.
- Half of all transactions under $10 were made using cash.
- 58% of American consumers say they always have cash on hand.
A cinema operator risks turning away a sizable portion of potential customers unwilling or unable to use a digital transaction by going entirely cashless. Considering the downturn the industry has experienced over the last few years due to the rise of streaming services and how many theaters are still trying to recover from the pandemic, going cashless isn’t practical if it requires turning away from the 14% of consumers who only use cash.
Fortunately, going cashless doesn’t mean no longer accepting cash.
A Cashless Operation Doesn’t Require Turning Away From Accepting Cash
Technology may be pushing people toward a cashless society and further away from relying on cash, but it also provides new solutions for cinema operators looking to embrace a cashless future.
Cash-to-card kiosks allow theaters to accept cash without the hassles of cash handling. Customers insert cash and receive a prepaid debit card they can use to pay for transactions, both at the theater and beyond. This elegant and easy-to-use solution provides moviegoers and theater owners with the best of both worlds. Customers still have the freedom to pay with cash by using the kiosk, while theaters can eliminate the need for cash handling.
The Advantages of Cash-to-Card Kiosks for Cinemas
Cash-to-card kiosks also enable customers to use other features previously unavailable to them. The prepaid debit card they receive for a kiosk can be used at self-service ticketing and concessions kiosks. This frees customers from needing to stand in line to buy tickets and refreshments, causing a trickle-down to theater staff.
Shorter ticketing lines mean fewer staff members need to be dedicated to selling tickets. An increase in online concession orders means staff can focus more on filling orders than devoting time to taking and processing transactions.
Additionally, with a prepaid debit card, customers can now access and use online apps and loyalty programs. Customers will appreciate the convenience and ability to use services and features that encourage further engagement with the theater.
These programs can drive repeat visits and build customer loyalty by offering everything from rewards on purchases to special promotions. For theaters, this means enhancing the overall guest experience and creating new revenue opportunities through increased participation in loyalty programs and online services.
Ready Credit is Here to Help Change How Theaters Handle Transactions
Transitioning to a cashless cinema doesn’t mean leaving cash-dependent customers behind. Instead, it opens up new opportunities for inclusivity and enhanced customer experiences. By adopting cash-to-card kiosks and other digital payment solutions, theaters can cater to all patrons, ensuring everyone can access the same convenient services. These advancements not only streamline operations and reduce the burden of cash handling but also offer customers the flexibility to engage, which helps to create repeat business.
At Ready Credit, our payment solutions allow clients to satisfy all of their customers’ payment preferences. Our ReadySTATION® and ReadyCARD® offer theaters the ability to accept cash without having to deal with the hassles of cash handling. Schedule a consultation with our team to discover how our innovative digital payment solutions can be the answer you’ve been looking for.