How going cashless can eradicate vandalism and increase revenue by up to 400% for the self-service industry

3 July 2017, ADVAM, Adelaide Australia. ADVAM is one of the leading payment solutions providers for the parking, eCommerce and self-service industries.

Working alongside leading organisations to deliver innovative payment solutions that enable its clients to improve their customers experience.

A key growth sector for ADVAM is the self-service market. Working with traditional food and beverage vending, car wash, locker services, mobile charge station providers, laundrettes and many more to remove the burden of cash from their business.

One of ADVAM’s key self-service clients, F.L Costello Australian distributor for Speed Queen, talk about the reasons why they made the move to cashless and how this one change has helped their business to reduce costs and increase revenue by up to 400%. Speed Queen is the largest manufacturer of commercial laundry equipment in the world.

As the principal distributor in Australia, F.L Costello provides washing machines to laundrettes, hotels and apartment buildings across Australia. In addition, F.L Costello also own and manage a few of their own laundrettes, under the Speed Queen brand.

At these laundrettes, as well as many of their customers sites, F.L Costello has seen a remarkable difference in their business since going cashless. Jason McSweeney, CEO of F.L Costello comments, “The move to go cashless was driven by the burden that cash was having on our business, mainly due to vandalism and coin jams. We reviewed a few solutions and decided to partner with ADVAM as they were the only organisation that could provide a terminal per machine implementation as well as an exemplary level of customer support”.

The move to go cashless has removed the cost burden caused by vandalism and coin jams, but has also led to an increase in revenue. Customers prefer the convenience of paying by card and it has also led to a ‘self up-sell’ to the larger, more profitable machines.

Jason McSweeney continues, “Going over to card has greatly increased the revenue. The least we’ve experienced to date has been a 25% increase in revenue, with the largest site seeing a 400% increase in revenue which is obviously a great benefit to the business.

To learn more about how F&L Costello has improved their business by going cashless, watch the video at www.advam.com/resources/videos/

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