The Saskatchewan Institute of Applied Science and Technology (SIAST) is a post-secondary institution in the heart of Saskatoon, Saskatchewan. The School was interested in offering its students the option of using a “cash card” for payment, but required a cost-effective solution option.
The Solution – Moneris' Gift Card/Cash Card Program, Transelect, VISA, MasterCard, and debit processing services
Moneris’ payment systems and hardware are integrated into many of the college’s essential businesses – registrar’s office, book store and tuck shop – thus providing a convenient payment infrastructure necessary to staff and students who chose to use their debit card, VISA or MasterCard at the point-of-sale.
“We’ve really had a good long-standing relationship with Moneris ever since they became our payment solutions provider,” said Hal Trask, team leader of the food services and hospitality training department. “We’ve had absolutely no problems at all, and are now using another one of their services called the Gift Card”.
The Moneris’ Gift Card payment option is essentially a cash card that allows staff members and students at SIAST to purchase meals at various food locations across campus – the Cafeteria, Le Bistro Restaurant and the Kelsey Dining Room. SIAST has chosen to offer the Gift Card in denominations of $50 and $100, making it a fast and convenient alternative to carrying cash. Once a person buys their meal, the card is swiped and the price of the meal is deducted off the outstanding balance of the Gift Card - it’s that simple.
The school contacted Moneris about securing a cash card product when they were looking through a food service and hospitality brochure and saw some interesting information on the subject. Previously, they had been informed by another service provider that, in addition to purchasing the actual cards, they would also have to buy software (costing in the range of $2500-$2800) in order to accommodate their point-of-sales system. The Moneris representative informed SIAST that they had the Gift Card, an identical product to a cash card, and that there would be no additional costs to update the current Moneris network to accept it. SIAST jumped on the opportunity.
Ever since the adoption of the Gift Card, many staff members at SIAST have chosen to use the card exclusively as an alternative to using cash when buying food. SIAST actively promotes usage of the card to their staff and students by offering a 10 per cent discount off the total cost of the $100 and $50 card.
Going forward, school officials plan to aggressively market the card to parents and students by including information on the Gift Card inside the acceptance and registration packages students receive prior to the start of the school year. The school represents an unlimited growth market for potential card users, and school officials hope the card becomes increasingly more popular.
“It has really been a win-win situation for us,” said Mr. Trask. “We really anticipate the Gift Card becoming a primary method of meal payment. I’m glad we discovered that this was one of the payment options that Moneris offers its clients. This system is going to make a lot of hungry staff and students very happy”.
Quick Facts on the Company
The Saskatchewan Institute of Applied Science and Technology
Integrated Payment Systems and Hardware
“We really anticipate the Gift Card becoming a primary method of meal payment.”
Hal Trask, Team Leader of the Food Services and Hospitality Training Department