Issue/Question
What are the perks of using Coyote Cash at my business?
Environment
Cause
Coyote Cash is a university-sponsored fund option available to anyone with a Coyote Card, the University of South Dakota’s form of identification. Card holders include all USD (University of South Dakota) faculty, staff and students who use this card frequently, if not daily! Anyone with a Coyote Card can add Coyote Cash on-the-go to purchase goods and services at any participating vendor, whether on or off-campus. Why not explore the ways that this frequently utilized card can be used to your advantage?
Resolution
Coyote Card holders may deposit funds to their individual account at the Coyote Card Office, online or through their mobile devices, like a debit card. Parents or guests are also able to add funds to student accounts as needed. Once the funds are added, the card holder presents the card to participating vendors and funds are deducted using USD provided card readers. The card will not allow a transaction if there are not enough funds to cover the purchase.
We provide a Verifone V400M cellular terminal to process these payments, so designated internet connections are no longer required. These devices have swipe and tap capability. Students Faculty and Staff now have Coyote Cash mobile that allows them to tap their cell phones or compatible watches to make payments.
The University will provide a monthly statement containing individual sales and the total amount earned over the course of the month. With this statement, a check can be set up as a direct deposit or it can be mailed to your business.
The largest benefit for select vendors includes an increase of sales and advertising through the University. More are listed below!
- Increased Sales – The potential increase of sales is closely linked to proximity to campus, as well as being part of an overall marketing campaign that focuses on your business reaching USD staff and students.
- Higher Patron Bill Averages – Students may spend more per transaction in your business with Coyote Cash then they do with any other method of payment because of its convenience.
- Reduced Cash Transactions- Increased sales, less money handling and employee theft or human error due to cash transaction decreases.
- Convenience - The convenience of carrying one method of payment and the alleviation of financial stresses that banks and credit cards may incur with a pre-paid payment solution. These conveniences carry-over to both you and the customer.
- Protection - The business avoids check/credit card transaction fees and negative check balances or fees charged by a third party for fund collection. The cardholder’s picture is clearly presented, reducing the need to check additional forms of identification.
- Competitive Edge – Vendors that accept Coyote Cash have increased sales and stand out from their competitors not accepting Coyote Cash. Increased marketing through various University programming incentives.
- Marketing opportunity - While other companies are paying thousands of dollars to market to college students, Coyote Cash provides a low-cost alternative (5% Commission) to reach both staff and students. Your business name will be marketed as a local Coyote Cash Vendor to all Students, Perspective students, Parents, Faculty & Staff through flyers, posters and on our website. The Coyote Card Office Staff are continually exploring marketing incentives to increase Coyote Cash usage.
Integrity:
Recognition by staff, students and parents for your support and association with USD. USD is proud to support local businesses!
Becoming a Select Vendor is easy!
The first step to becoming a part of the USD Vendor list, is to complete the application and await approval from USD. After approval is granted, the vendor must agree to the forms set in our agreement policy. Next, we will work with you to get set up for service! We will provide you with a card reader that is cellular so no internet connection is needed, then you will be ready for Coyote Cash customers! We will provide a sign for you to display stating that you accept Coyote Cash and then we will proudly add your company to all our Vendor List forms and marketing material.
The USD Coyote Card Office is committed to continual and exceptional operation of the card program, account management, marketing, and advertising for participant use. We are committed to consistent growth, improvement and success of this program and hope you will join our efforts!