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Contactless Payment

A new vending machine resource

“Contactless, cashless payment allows customers to buy candy snack vending machine and ice cream vending machine products with speed and ease.”

The vending machine industry has always struggled to keep up with the retail industry, but the latest technological trend may be the key to the vending machine industry’s resurgence.
The solution is simple; eliminate the fuss of cash transactions. Credit and debit card vending machine transactions are more convenient than cash, but contactless, cashless payments are even better. Imagine being able to purchase an ice cream sandwich from an ice cream vending machine on a hot day without having to take out your wallet. Even better, if you’re a person on the go, you could quickly grab a coffee from a hot beverage vending machine in seconds.

While contactless, cashless payment options are new to the vending machine industry, gasoline retailers and toll road operations have been using the technology for over 10 years. Contactless, cashless transactions simply require a card or fob embedded with a microchip to pass within the proximal range of a device reader. No direct contact or line of sight required! This means a person can buy their latte from a coffee vending machine or a pastry from a candy snack vending machine by simply placing their card in close proximity to the coffee or candy snack vending machine. The individual does not even need to take their card out of their wallet or bag for the transaction to occur.

Contactless, cashless payments of vending machine products offer increased transaction speed and convenience to the vending machine consumer. A hungry customer can make a candy snack vending machine purchase with less hassle. Studies have shown that this form of payment can be authorized and executed up to 53% faster than credit card transactions and 63% faster than cash. Quicker payments mean more transaction volume for vending machine operators.

Implementation of cashless payment at fast food restaurants showed a reduction in purchase transaction time that was sufficient enough to impact the restaurant's ability to support a higher volume of transactions. In drive-through lanes, 12 to 18 seconds were saved per transaction that used contactless, cashless payments. Now translate that to your hot and hurried ice cream vending machine customer.

The vending machine industry is already known for its convenience. People count on soft drink vending machines and candy snack vending machines for quick satisfaction. Contactless, cashless vending would help to further promote the efficiency and ease of vending machine transactions. As evidenced by the rising number of credit card transactions, consumer buying habits are changing to favor cashless payments. The vending machine industry should grasp this opportunity to modernize the business and increase revenues by allowing vending machine consumers more flexibility in payment options.

To find out more about how the vending machine industry can team up with credit card companies to promote contactless, cashless payment.

Learn more details about why vending machine operators should adopt contactless, cashless vending.

 

For more information, please contact Peter LeVine or any one of his talented colleagues at (800) 223-4101, (650) 493-2258, or contact us through our

Buy Soda Vending Machines from Vencoa

All vending machines are priced lower than the identical machines from Selectivend, USI, Fawn, or Federal.

Plus we offer:

  • Zero Down Financing
  • Lower Interest Rates

Questions? (800) 223-4101 or contact us through our

*Vencoa is an authorized distributor of USI vending machines and is not an authorized distributor of Selectivend products.

 

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Stanford Financial Square      2600 El Camino Real      Palo Alto, CA      94306     (800) 223-4101     (650) 493-2258