Going Cashless…and all of the benefits!
As the night pulls to a close, a customer exits and hands you their ticket. You, the valet driver, go and retrieve their vehicle. Having gone out of your way to protect their car, as well as treat them with the utmost respect, you expect a decent tip. However, as the customer looks in their wallet, they grimace and look up sheepishly. “Sorry, I don’t have any cash on me,” they say. Exasperated, you feel as if you cannot blame the customer, as this is not the first time you have missed out on a tip due to a lack of cash. Perhaps there is an issue deeper than merely cheap customers. Carrying cash is simply inconvenient and is often too difficult to make it worth it for a large majority of people. It requires going out of your way and planning ahead by keeping a few dollar bills of cash in your wallet, which is becoming rare. In today’s society of Venmo, Apple Pay and credit cards, less people are carrying cash within the U.S. A new report by Bankrate demonstrates that more than 9% of the entire population carries no cash with them, on a daily basis. Not only that, but women are even less likely to carry cash than men; with eighty-six percent of women reported carrying no cash, compared to 70 percent of men.
Greg McBride, Bankrate.com’s chief financial analyst, stipulates that this could be due to the fact that carrying cash can make you more of a target for crime. Another factor that contributes to this lack of cash can stem from the difficulty of finding an ATM and the multitude of fees that come with each withdrawal of cash. People also dislike carrying cash due to the fact that if it is stolen, it’s gone for good, whereas if a credit card is stolen they aren’t liable for any of the fraudulent charges. All in all, cashless payment methods create solutions for many different issues, however, they create an awkward tension when it comes to tipping valet drivers. This issue will not be disappearing any time soon without a solution, as McBride says ““If we move to a truly cashless society, it won’t be much of an adjustment for most Americans.”
Those who do decide to take cash out face other challenges as well. Most ATM’s have an average of $4 in fees to use them, costing you $24 to take out the minimum amount allowed. This fee can cause people to shy away from this option due to the fact that the fee is basically the average amount one would tip a valet, making the process frustrating. Even if the customer does fork out the ATM fee to withdraw cash, there is the problem of creating change. Now the customer must inelegantly ask if the valet drivers have change for a 20, and if the answer is no, decide whether to take the blow of a tip costing them $24, or gracelessly withdraw their tip, having spent $4 uselessly.
All in all, relying on customers carrying cash in their wallet is not the most efficient way to assure that valet drivers get tipped. Tips, which also motivate them to do the best job possible. Tips which are arguably necessary to create a purpose for valet drivers to take care of the customers prized possession. Realizing that valet traditionally relied on cash was certainly a problem that we thought needed solved and we at Vark have created a solution with our mobile app that allows customers to naturally pay for their valet as well as tip. Contact us today and let’s make it easier than ever to offer digital payments as a method to pay and tip for valet.
When you need to do Valet, valet smarter. Valet using Vark. The Smartest Way to Valet.
The Vark Team!