Open Loop Payments Come to the Laundry Washing Machine..and the Dryer

by Mercator Advisory Group 0

Heartland Payment Systems has been working in the micropayments space for a number of years. Heartland’s OneCard campus program can be used for on campus payments as well as physical access to dorms and other buildings. Heartland’s also got a strong program for laundry operators that has recently evolved to accept open-loop payment cards right at the machine. The WaveRider system lets customers check machine availability via a website and, once the load is complete, WaveRider will send the user a text message to that effect. The laundry operator can also monitor activity; check to see if a machine requires maintenance and when to send out a truck to collect coins. Strong benefits for everyone.

One of the largest laundry operators in the U.S. collects 40 tons of quarters per day. At five quarters per ounce, that’s 6.4 million quarters. Moving bits of data is a LOT easier.

Similar to a card reader at a gas pump, WaveRider card readers are attached to each washing machine and clothes dryer – providing a quick, easy and secure payment process. Meeting Payment Card Industry (PCI) data security standards, the system is designed to protect sensitive payment card data. Convenient and user-friendly, WaveRider eliminates the need for quarters or reliance on closed-loop laundry cards; instead, customers can pay for laundry services using any major credit or debit card in their wallet.

“As plastic continues to become the preferred method of payment and debit cards replace cash for small-ticket transactions, it should come as no surprise that using quarters to do laundry can be viewed as an inconvenience,” said Ron Farmer, Heartland’s executive director of MicroPayments. “As we move toward becoming a ‘cashless’ society, Heartland’s WaveRider solution makes it easy for laundry facility operators to adapt to this growing trend. An affordable, reliable, convenient and secure method of accepting credit and debit cards, WaveRider is also vertically integrated – Heartland provides the hardware, software and card processing, resulting in significant cost-savings to the operator.”

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