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Has anyone ever regretted Cryptopay

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Has anyone every regretted adding crypto? Just some background, I’m in a very rural part of TN. My start price is $1 for 2:40. I’m thinking I would have to make the start price for CC $3 in order to make it work? Are the swipes pretty durable?
 

Sequoia

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I added Cryptopay about 6 months ago. I had one swiper mysteriously stop working but installed a spare and was back up and running. The swiper was repaired under warranty.

My pricing is $3 for 5 minutes. I make cash and credit card pricing the same-- I don't want confusion over that.

Last time I checked, the average spent by "cash" customers was $4.40 per visit. Using a credit card, up to nearly $6 per visit.

Each month has gotten more adoption/conversion from cash usage and I expect heavy CC usage this summer.

I am very pleased to a) collect fewer bills from the bill changer, which requires sorting them, counting them, and taking them to the bank for deposit, and, b) collecting fewer quarters and tokens, which requires the same in addition to some heavy lifting of bags of quarters to deposit.

My regret is to not have installed it sooner.

I know some people balk at the cost of the swipers and equipment. But for a one-time investment that makes your wash much easier for customers to use, and brings in more $$$ total, I think the cost is acceptable.
 

KleanRide

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My Crypto start price is same as cash and set to count up. Average CC ticket is now $7.15 versus $4.75 for cash. Credit cards were 15% of sales the first month, now up to 35% nine months later. Great system and no regrets, so far.
 

sparkey

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I like cryptopay, but the worldpay processor they use on the other hand is a nightmare to deal with. If you ever have to call them be prepared to spend a week trying to get anything resolved. I have other areas I would like to install cryptopay but I am kind of waiting to see what their next generation of credit card readers brings. Swipe readers are getting to be a thing of the past. I heard a rumor they are working on tap for the future.
 

Sequoia

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I checked Feb 2020 numbers. Average cash customer spends $4.60 per visit. CC customer is $5.98.
 

Sequoia

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Long ago, I installed a PLC and wrote some software to keep track of business at the car wash. As an absentee owner, I needed that so I could time when to do money collections.

So, in a given time period, I know how many times each of the bays have started up. Once I collect money, I know how much cash I collected. A simple calculation of those presents cash-per-visit. When I do a money collection, I reset the PLC counters back to zero.

Once credit cards got introduced, to compute cash per visit I had to back out the bay startups equal to the number of CC transactions.

I was going to write more complex code to track it down to the coin pulse; however, that was a lot more work and I did not need it to be that precise. For years now, I know when Bay 1 hits XXX cycles, the coin box is full. (Which is changing with CC use, of course.)

At first, I learned the bill acceptors would fill up and max out before the coin boxes filled. But I was able to buy bill acceptor "magazines" with larger capacity. After I did that, when I arrived to do a money collection, virtually everything was full.
 

Waxman

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Crypto pay is an awesome addition to the car wash! My minimum is $5. Max $10. It gets ALOT of use and that is only increasing!!! Crazy not to have it, IMO.
 

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Waxman, is your cash start price $5 as well?
 

I.B. Washincars

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So, in a given time period, I know how many times each of the bays have started up. Once I collect money, I know how much cash I collected. A simple calculation of those presents cash-per-visit. When I do a money collection, I reset the PLC counters back to zero.
How do you calculate cash customers that buy a cycle, let it run out, buy another, let it run out, and so on? One customer could easily start the bay up 4 or 5 times.
 

traveler17

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Has anyone every regretted adding crypto? Just some background, I’m in a very rural part of TN. My start price is $1 for 2:40. I’m thinking I would have to make the start price for CC $3 in order to make it work? Are the swipes pretty durable?
I regret not doing it sooner!! :)
 

OurTown

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How do you calculate cash customers that buy a cycle, let it run out, buy another, let it run out, and so on? One customer could easily start the bay up 4 or 5 times.

Cryptopay calculates the average cash purchase but ^that^ is the issue with it. Actually it is worse than that because our average cash purchase shows that it is less than our start price.
 

Sequoia

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How do you calculate cash customers that buy a cycle, let it run out, buy another, let it run out, and so on? One customer could easily start the bay up 4 or 5 times.
The best answer is my system to compute "cash per visit" was designed to give me a reasonable estimate, not a perfect one. It's good enough for me to use for trends to watch revenue, such as by season, after price increases, etc. Except for large vehicles, and those who accidentally run out of time, I rarely see multiple start-ups. I think in the last 10 years, I have seen only a half dozen bucket washers.

To some degree the CC systems suffer the same issue. My CC max charge is $10. So at $10 the machine shuts off. But on the Cryptopay report recently, a person spent $37 in one day at the wash. I have no idea how many swipes that might be, but Cryptopay showed it as a single charge for that day.
 

Sequoia

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Cryptopay calculates the average cash purchase but ^that^ is the issue with it. Actually it is worse than that because our average cash purchase shows that it is less than our start price.
I don't have the Cryptopay functionality to track cash purchases. Does your system exclude vac revenue to show revenue for each wash bay? If vac revenue is lumped in, I could see how the average cash customer could be below your bay minimum start price.
 

OurTown

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I don't have the Cryptopay functionality to track cash purchases. Does your system exclude vac revenue to show revenue for each wash bay? If vac revenue is lumped in, I could see how the average cash customer could be below your bay minimum start price.

It has 8 different types of analytics viewing and the page that I am looking at with the average purchase has them separated out into theses categories: wash bay, vac, vend, auto, pet wash, washer, dryer.
 

MEP001

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How do you calculate cash customers that buy a cycle, let it run out, buy another, let it run out, and so on? One customer could easily start the bay up 4 or 5 times.
I had to do it accurately by watching surveillance video and counting the cars washed, subtracting the CC startups, and dividing cash spent by the remaining number.
 

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Is anyone’s cash start price different than the CC start price?
 

bert79

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Is anyone’s cash start price different than the CC start price?
Yes we are 3.00 min for cc and $2 for cash. Either way you get 27 sec/quarter. Right now we're running about 35% cc. Not one complaint about the difference. I would not do it again though. IMO the price difference scares people away from using cc. Originally we thought that we should have a higher start up for the cc to cover costs. What I didnt realize is that people spend so much more with cc as opposed to cash and that alone more than makes up for the costs. Our all in fees last month was 4.1%.
 

Earl Weiss

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Yes we are 3.00 min for cc and $2 for cash. Either way you get 27 sec/quarter. Right now we're running about 35% cc. Not one complaint about the difference. I would not do it again though. ......................... What I didnt realize is that people spend so much more with cc as opposed to cash and that alone more than makes up for the costs. Our all in fees last month was 4.1%.
I agree. Someone on FB was telling me I should charge more for CC startup - of course he knew nothing about my competition. I din't bother to tell him I feel the same as you vis a vis CC customers typically using more than the minimum anyway.
 
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