Editor’s note: This article was originally published in August 2017 and was updated for accuracy.
Nayax’s solutions enable vending and other automated machine operators to offer prepaid card payment solutions to their customers, driving loyalty and engagement. This is particularly useful for operators whose machines are located in closed-loop environments such as residential buildings, offices, universities and more.
Prepaid Card Machines in Closed-Loop Environments
If you operate automated machines in a closed environment, whether it be a at an office, a university, or a residence, you’ll want to offer closed-loop payments. A closed-loop payment system offers customers full control over their spending, as they can load a monthly, weekly, or daily amount onto their cards and use that at your machines.
Prepaid cards can come in several forms, either physical such as an employee card or student ID, or digital such as a payment app, and have several advantages in these environments, boosting convenience and improving employee or student life. If we take the workplace as an example, prepaid cards can greatly improve employee satisfaction. With prepaid card management systems, employers can come up with loyalty programs for their employees, and set up employee discounts on office vending or coffee machines via their prepaid cards. Employers can also top up employee cards with a monthly, weekly, or daily amount, encouraging them to spend more. This is beneficial both for workers, as they get extra perks, and for employers, as it boosts office satisfaction and productivity. Using digital prepaid cards via Monyx Wallet, for example, can provide even more advantages to both parties. This offers a convenient payment experience that only requires a phone and can help drive more customer loyalty.
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Prepaid Cards Drive Customer Loyalty
Prepaid cards offer more than just a convenient experience, they can also boost customer loyalty, especially when a loyalty card management system is used. With the example of Monyx Wallet, a digital prepaid solution, you can not only provide customers with digital prepaid cards but can also implement marketing campaigns to drive more loyalty and engagement. By personalizing offers with special discounts, happy hour promotions, punch card campaigns, and gamification, your customers will be incentivized to use your machines and will return more and more.
See how Monyx Wallet works here.
The Advantages of Accepting Both Open and Closed Payments
Though accepting prepaid card payments in closed-environments has its advantages, you shouldn’t forget about open payments. A card reader that accepts both open and closed payments allows everyone to use your machines. Not only will people with prepaid cards be able to pay, but visitors will also be able to pay with a credit or debit card.
An airport is an ideal example. The entire network of employees can use a prepaid payment solution (cards, mobile apps, fobs, etc.). At the same time, the tourists who at the airport who are waiting for flight departures and arrivals can pay via open cashless payment options. Employees can receive discounts via their prepaid cards, while visitors and tourists can pay full price, helping you keep a healthy profit margin.
Are you ready to get started with Nayax’s prepaid solutions? Contact us here.
