Bongo’s Bingo are an innovative and whacky night club experience with a twist, involving non-blue rinse, high energy bingo fused with booze and lots of dancing. Hailing from Liverpool, the concept has grown exponentially in popularity and over the past year the event has gone from hosting a few events around the UK to taking over venues worldwide in the likes of Amsterdam, Dubai, Ibiza and Australia. So much so is the love for Bongo’s Bingo that tickets sell out fast – the record so far being in 2 minutes.
Each event sees over 600 budding bonkers bingo players, all with a thirsty appetite to play, dance and drink. With each event interspersed with a number of intervals, the numerous bars need to be able to serve the needs of pretty much every person before the games begin and at each short interval. As such, the owners’ desire to introduce better cash controls and improve speed of service at the same time are logical. So, GS Systems have partnered with them to introduce a massively streamlined point of sale solution with cashless payments. Comprising the latest space saving touch screen PoS terminal from Sharp and cashless payment terminals at each bar, cash holding is hugely reduced, and transaction times have reduced to help increase security, drive up turnover and quench the thirsty throng.
THE BENEFITS OF OFFERING CASHLESS PAYMENTS IN YOUR BUSINESS
A study by LINK found that “Over the last 10 years cash payments have fallen by 33%”. With the advances in modern technology, the average customer now has access to everything they need at the touch of a phone. Less and less people are carrying cash and opting for online shopping or cashless payments. In fact, a study by KTH Royal Institute of Technology in Stockholm has predicted cash could be a thing of the past in Sweden by 2030. Sweden is expected to become the world’s first cashless society. With this in mind and the ever further advancements in technology and consumer needs, businesses who don’t offer cashless payment options could be missing out on more revenue than they realise. Here are just a few benefits you can reap when you offer Cashless Payments – just like Bongo’s Bingo!
CURRENCY NEUTRAL
From Liverpool to Dubai, currency is not an issue. Cashless payments allow customers to pay with ease no matter where they are or where they are from. This means less admin overall at the end of every event as there is no need to cash up a foreign currency which allows more time to increase productivity. It also means that the customer experience is improved for tourists too!
CUSTOMER CONVENIENCE/PREFERENCE
The average person in the UK has around £32 in their wallet/purse according to the British Retail Consortium. Not only is it more convenient for them to make cashless payments, but it will also result in an increase in sales for your business. With more customers opting for cashless payments, businesses are missing out on additional revenue when they don’t have a cashless payment option. Customers are no longer limited to the cash in their pockets as they have direct access to their bank at all times.
SAVE COSTS, SPACE & TIME
Save time on spontaneous checks on a cash drawer, which should be embedded into every businesses procedures, as they are no longer needed, or not as needed as if cash was the sole payment method. All businesses should have spontaneous cash drawer checks embedded into their business procedures, but with cashless payments you can use this time to help your business elsewhere, as they will no longer be needed. Or at least not needed as frequently as it would if cash was the sole payment method. Real-time reporting offers an insight to what has been taken at any given point in the evening, connecting you straight to the bank. With Cashless Payments, not only do you save time, but space and cost too. With transactions being carried out in the secure cloud space there is no need to fork out extra money on cash floats and then finding somewhere to place them!
CARD TRANSACTION CHARGES/CARD MACHINE COSTS
Taking payments on card results in a surcharge per transaction. With most systems out there, you are able to buy the system itself for cheap and pay through the nose on transaction fees. GS Systems offer your business a solution in which you are able to shop around to make sure you’re getting the best rates possible for you. For more information, speak to one of our specialists today
LESS TIME AT THE BANK OR CASHING UP
With less money in the cash drawer, the time spent at the bank cashing in will decrease. Add in about how this increases business productivity therefore profit. Counting cash and checking receipts will also be irrelevant as it is all done directly through a computer, meaning you can check where you’re up to at any point with real-time reports.
SECURITY
Not having cash on the premises reduces the chances of theft in the business, giving you one less thing to worry about! With Cashless Payments, all transactions are sent directly to the bank. Not only is it safer for your business, it’s more secure for the customer with fingerprint ID and even Face ID becoming increasingly popular.
PERFORMANCE & EFFICIENCY
Ultimately, Cashless Payments mean less time spent at the bar fumbling with change on either side of the till. Waiting times are cut drastically and the overall customer experience is improved because of this. The less time spent at the bar by one customer means you can fit a lot more transactions into a shift – meaning you can increase your turnover dramatically.
Bongo’s Bingo have effectively adopted Cashless Payments into their business model and in doing so increased revenue by improving the customer experience in more ways than one. With such a large group of consumers to continuously serve in as such a short amount of time as a couple of hours, speed of service and a smooth flow of procedures is pivotal to their business in making sure they can operate at maximum efficiency.
Cashless Payments worked wonders for Bongo’s Bingo, and GS Systems are proud to have helped them expand their business efficiently. We could do the same for you. GS Systems treats every business as an individual with a bespoke solution. We will work with you to understand your wants and needs as a business. Whether you have retail or hospitality tied to your business, we have all the tools you will need to create the right package for you.
To find out more on how Cashless Payments can benefit your business, speak to one of our specialists today
Further Reading:
Sweden is expected to become the world’s first truly cashless society. https://www.theguardian.com/money/2017/jul/12/cash-contactless-payments-uk-stores-cards-british-retail-consortium
