Your smartphone—or, your customer’s smartphone—can do countless things, including serve as a wallet. Is it time your club adapted to this new technology? Vault Logic can be your next-generation cash kiosk.
(Note: This article appeared in our January 2020 issue’s Special Focus on Future Technology. All of the articles in this Special Focus will be posted to ExoticDancer.com.)
Gentlemen’s clubs may be the last bastions of hard cash when the digital winds are done blowing. Even in the industry that sparked making it rain as a sign of hedonistic luxury, gentlemen’s clubs have had to acquiesce to credit cards and smartphones for payment. So it makes sense that ATMs—for ages the saving grace of many a patron at your club—follow suit.
Approaching ATMs like smartphones, Vault Logic has decided to introduce versatility to ATMs, so that you can placate any customer, from the ones that want to make it rain with cash to the ones who only know dollar bills as a relic from a bygone era.
ED Magazine spoke with Mark Hilgenberg of Vault Logic to find out about the new wave of ATMs.
ED: For a club owner/operator who may not be familiar with your company and its product, how would you briefly summarize Vault Logic?
HILGENBERG: Just like a smartphone is a software and hardware platform for many kinds of apps, our kiosks are a platform for many kinds of apps. No one knew just 10 years ago we would all use our phones as maps for navigation, or that someone would build an app for a phone that could analyze a song and tell you the name of the artist. Just like smartphones, third parties will build apps for many verticals including adult clubs. And just like the smartphone app revolution, there will be exciting new apps and revenue streams built on our Smart ATM platform.
ED: Can you elaborate on how Vault Logic (ATMs) serves as a multiple-revenue stream ATM for gentlemen’s clubs? Do you see your product being a replacement for old-school ATM machines?
HILGENBERG: Yes. Legacy has basically done just one thing for the past 50 years: dispense cash from a bank account. Our kiosk can do this and many other services. Plus, there are services and apps that will be built we can’t even imagine now. Why buy another ATM that only does one service with one revenue stream? You can now buy a platform that can do a lot of things with a growing number of revenue streams!
“With Vault Logic, the customer pays for a lap dance at the machine, the cash stays in the machine and is automatically credited to the performer. At the end of her shift, she pulls the money owed to her from the machine. The owner’s cut stays in the machine and can be removed at any time,
or left in for other purposes.” — Mark Hilgenberg
ED: How do Vault Logic ATMs enhance the safety of a club?
HILGENBERG: By keeping cash in the machine and transferring its ownership using a phone app and blockchain for accounting, fewer people need access to the cash. For example, we could see a lap dance app in the not-too-distant future.
In the past, some clubs used the bartenders or other hosts to collect money for lap dances, then stored that cash in a register or safe that many others may have access to, then eventually passed the funds to the girls at the end of the night minus the club’s cut. This could lead to skimming by several employees.
With Vault Logic, the customer pays for a lap dance at the machine, the cash stays in the machine and is automatically credited to the performer. At the end of her shift, she pulls the money owed to her from the machine. The owner’s cut stays in the machine and can be removed at any time, or left in for other purposes. This future lap dance app is just one possibility to increase safety and reduce loss.
ED: With an increased focus on digitizing payment, how does Vault Logic help bring gentlemen’s club owners into the future of their club’s operations?
HILGENBERG: Everything will be digital in the near future, that includes cash and funny money. One thing Vault Logic does right now is to help clubs and customers with this transition. Our kiosks, apart from being regular ATMs, crypto BTMs, can function as a digital ads platform, and soon will offer check-cashing and other services. They are the gateway between physical cash and digital cash. Right now this addresses a large population who prefer or must use, only cash. Our industry already serves a large part of this cash-only demographic. Our company will be ready for the future, whatever that brings. Is your club ready?
For more information, visit vaultlogic.com.
