Monthly expenses for Cryptopay

[ronswash]

Hello all,

New to this site but, been it the business since 1997. I'm looking at adding Cryptopay to my self serve car wash. I have a 4 bay and one petwash bay. Could some of you that has Cryptopay/Worldpay share the monthly expenses for having it?

Thanks,

Ron

 

[washme1]

I averaged mine for the last three months. 5.98%. Keep in mind the following; customers usually will spend more on cc than with $$, you will attract more customers, especially self employed business people who prefer the charges fo directly on their business cc, many people prefer cc to earn points, you won't have to count as much $$. In my case, the benefits outweigh the costs. My cc sales, as a percentage, have climbed nearly every month since I installed CryptoPay.

 

[Earl Weiss]

Mine run about 5.6% all in. IMO it has been a game changer with count up. People not playing beat the clock. There have been some months where net cryptopay revenue exceeded the entire cost of the system. I do not know how many cash people simply switched but I would do it again in a heartbeat.

 

[cellardale@aol.com]

Runs about 5.5 %. Great product!!

 

[Greg Pack]

Just installed one at the lower volume wash. Right now averaging about 1300-1500 per month with count up configured and $2.50 minimum$10 max per swipe. I'm running between 6 and 7% over the past few months.

 

[ronswash]

Unless I trade out my older times I'll be counting down.

 

[ronswash]

Just installed one at the lower volume wash. Right now averaging about 1300-1500 per month with count up configured and $2.50 minimum$10 max per swipe. I'm running between 6 and 7% over the past few months.

1300-1500 a month, is that the amount run through the cc?

 

[lilb93]

We installed them in our 4 bay SS only in three bays. First month was 5 percent of bay sales second month was 6 percent of sales third month was 8 percent of sales and last month was 10 percent of sales. Looking at the customers that use them, do not see any new customers. Just CASH customers that now use CC. The cost of the internet and the cost for the controller and swipers I think I made a bad choice. Figured it down to the penny it comes out at 6.12124 percent for taking CC. Plus 69.00 a month for internet service. We are at 3.00 to start for 5 minutes. The average CC sale is 4.65 with some as high as 12.00 that's few and far between.

And these are Count Down. Do not have Dixmore timers, Hoping this or next year to replace all coin boxes.

 

[MEP001]

Looking at the customers that use them, do not see any new customers. Just CASH customers that now use CC.

Give it some time. Unless you're advertising you'll have to rely on word-of-mouth, but you'll eventually have people come to your wash just because you take CC.

And these are Count Down. Do not have Dixmore timers, Hoping this or next year to replace all coin boxes.

The sooner you go to count-up, the sooner you'll see an increase in how much people spend per car. My figures showed them spending about 20% more.

 

[Semi-retired]

I see customers all the time at the 1 minute warning going over to feed a couple quarters in several times per wash.
I would not get rid of cards, just like I would not stop taking quarters, but I'm not convinced that I make more money per wash with cards.

 

[washme1]

I see customers all the time at the 1 minute warning going over to feed a couple quarters in several times per wash.
I would not get rid of cards, just like I would not stop taking quarters, but I'm not convinced that I make more money per wash with cards.

I can tell you from my own experience even though I pay nothing to wash down bays, when I hear the buzzer I speed up the process to try to finish before having to go to the equipment room to add more free time. Don't you think our customers, whose income has been static for 7 yrs, do the same as me when they're paying for the time?

 

[6t7gto]

I have been following these CC threads for years. I am strictly cash.
Everyone talks about what percentage of CC is their income and the expense involved with it.
But no one has ever said their gross has gone up because of CC acceptance.
Soooo... what's the bottom line?

 

[pgrzes]

my first year bay revenue with complete new selector doors, I added Crypto pay and bill acceptors. I was up 50% over prior year. I have said this several times on some of the CC threads, and this is my opinion. I love the credit cards!!! Yes it cost me some $$$$, "BUT" I dont have to sort it, count it, carry it to the bank!!! And I am bringing in more revenue because of it!! I log onto my bank account EVERY morning and see how much was deposited. I only do about 20% credit cards in my bays, so the cash is still there. Would anyone put in an automatic, or a tunnel without credit cards??? "NO" so why are the bays and vacs any different. People that use cc use more functions and plain take more time so they spend more!! Again my opinion. Not ranting, I just feel its something that you need to have. How many places can you go where there is no CC acceptance? Sometime change sucks, but a necessary thing. Try to think about how many people are not your customers because they dont carry cash? They are out there. Have a good night all.

 

[washme1]

I have been following these CC threads for years. I am strictly cash.
Everyone talks about what percentage of CC is their income and the expense involved with it.
But no one has ever said their gross has gone up because of CC acceptance.
Soooo... what's the bottom line?

I am certain that my gross has gone up as a result of cc acceptance. Not just because customers don't rush as much. Small business owners come to my wash because they can use a business cc and not take $ out of pocket.

 

[Earl Weiss]

I have been following these CC threads for years. I am strictly cash.
Everyone talks about what percentage of CC is their income and the expense involved with it.
But no one has ever said their gross has gone up because of CC acceptance.
Soooo... what's the bottom line?

There are so many variables to the business, it would be difficult to evaluate who simply switched from a cash to CC Customer versus more customers and money spent. IMO it seems to be a real game changer with the count up. Other low cost options I think have increased sales are Bill accepters, Bonus Time and Superbays.

 

[MEP001]

There are so many variables to the business, it would be difficult to evaluate who simply switched from a cash to CC Customer versus more customers and money spent.

I was about to post the same thing. What I can tell you from personal experience is that after adding the first two CC readers in the bays that the cash income really didn't drop noticeably with CC sales being about an additional 20%. I also saw customers waiting behind others in the two bays with CC readers when there were cash-only bays empty, and not just once but frequently.

 

[Jeff_L]

The more ways you offer to pay, the less your customer has to think about when they want to wash their car. It also removes a single point of failure, meaning if your coin acceptor jams, you're not there, your bay isn't out of service if you have cc acceptance. Gives you a little piece of mind.