Last week I was chatting with a friend and we started talking about the norm...family...work...sports, all that good stuff. One topic we got into was how most of our transactions are online or mobile. As we got into this discussion, he mentioned how his daughter (14) has her own card, which they deposit money on for her chores, birthday money, grandma giving her money for no reason :), etc. Then it got me thinking about our industry and how, understanding the younger generation is growing up this way, just how important mobile wallets are to our future.
Luckily for us, Embed is already one step ahead of the game. Launched in 2019, Embed's mobile wallet is the only one Android and iOS compliant and can be used seamlessly in your location without an additional app to download.
If that doesn't push you toward the future, Embed has released an extensive study that shows you just how much more income guests add (from home or at the location) to their mobile wallet.
Don't feel like reading anymore? No problem, we've also included a link to their YouTube page, where you can learn everything you need to know IN 30 SECONDS and why you should contact Embed ASAP!
"The Mobile Wallet in boosting FEC revenue. Both small and large FEC operators are showing the same average metric results with Mobile Wallet use: reload value 5x that of cash, at $50.57 average Mobile Wallet reload value versus cash ($9.90) and credit card ($31.95). 60% of the Mobile Wallet reloads happen offsite before the consumer enters the FEC, accounting for its ease of use and how it protects guests from the risk of losing game cards, encouraging bigger top-ups thanks to secure mobile encryption technology.
The mode of payment you accept in your venue directly affects your revenue, operational efficiency, and profitability. Choose wisely.
The infographic demonstrates 3 things:
83% of customers spend more using cashless payments (so there’s no reason for any operator to still be on coins)
Cash handling costs 3X the cost of accepting cashless payment
It takes 542 hours to process $100K non-digital payments
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