Leading the charge in cashless self storage

Numerous self storage facilities worldwide already benefit from convenient, safer, and faster ways to get paid by moving towards cashless payment options. By Storman Software.

Cashless payments have become a priority for businesses that want to enjoy the benefits of an increasingly digital world. The risk of losing customers, because your company is not leveraging this technology is too significant to ignore.

In this article, we investigate the numerous benefits of moving towards cashless payments and explain why you should be leveraging modern day payment technology within your facility.

WHAT ARE YOUR OPTIONS TO GO CASHLESS?

In Australia and New Zealand, the cashless payment options for the self storage industry includes: l Payments from a credit card, online or through a recurring debit l BPAY (Australia only) – provides fast, secure and trusted bill payments l Payments from a bank account, through a recurring debit l Direct deposits from a storers bank account l Automatic Payment (New Zealand only)

WHY SHOULD YOUR FACILITY GO CASHLESS? Spend less time chasing arrears, more time on sales

Rental fees in arrears are not only hemorrhaging your cash flow, but it also increases the time your staff spend chasing payments. By using “set and forget” electronic payments, such as Storman’s “Autopay”, that automatically debits your storers bank account or credit card, your storage facility will see a dramatic decrease in storers with arrears. Which means your staff only chase failed payments, freeing up their time to focus on revenue-generating activities such as marketing and sales. Wouldn’t you prefer your staff to spend their time generating new business rather than chasing outstanding payments?

Boost your cash flow and be paid on time, every time.

Keep your storers for longer by facilitating the convenience of paying their bills automatically without them having to think about it every month, giving less chance of them wondering “do I still want to store my goods?” A “set and forget” payment plan with Direct Debit helps with this, and increases the “on time” payment of rent dramatically.

Alternatively, storers initiated payments such as BPAY and online card payments, allow your customers to pay you instantly, using their internet banking or a branded payment page, seamlessly integrated with your website.

Increase your asset value

Did you know that valuers assign a higher value to your business when there is an efficient payment collection process in place? Fewer arrears, smoother processes and a lack of human intervention all contribute to increasing your main asset.

Reduce risk/fraud

Electronic payments eliminates the risk of destruction of cash on premises in case of disaster or human intervention such as fraud or theft. With the aid of