We all know how annoying purses and pockets full of loose change can be, clanking away and weighing us down, but on the other hand we also know how annoying it is when we’ve not got any to hand to pay for those small every day purchases, mmm a bit of a dilemma!
There is plenty of talk in the media about the cashless society and yes, we’re sure that eventually we will all live in a cashless society, but for now the move away from using cash is a slow one. However, there are some places where being cashless does genuinely make life easier.
One such place is on a university or college campus. Here you will find many technically savvy young people, who tend to be early adopters of new trends and ideas (like cashless payments or mobile wallets). Universities and colleges are also keen to improve their engagement with their students and look at all sorts of ways to foster a sense of belonging (a key indicator of engagement). One-way universities and colleges can do this is through the ‘space and place’ facilities they offer and a cashless campus is one of these.
A cashless campus offers students one fast, easy system, via which they can access and pay for a wide range of goods and services on campus. Students do not need to remember to have cash on them, they can add funds via an online portal and they can even ask their parents to add money too. Once funds loaded into their account, they are more likely to stay on campus to spend this money. From the universities or college’s perspective there is a lot less cash in circulation, so the campus is safer and the costs associated with cashing up, storing, insuring and banking will be significantly reduced. Service delivery is quicker in places like canteens and bars. As the cards are managed by the organisation and not by a bank or building society and no value is held on them, they can be cancelled and re-issued quickly.
If you want to know more about going cashless or reducing the amount of cash you use in your university or college, the resource section of our website has plenty of further reading – click here.
Or give us a call on 01495 565066