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Vending Machine Cashless Payment Update

Vencoa's prices are lower than machines from Selectivend, Fawn, Federal, or USI.

Although the use of cashless payment in vending machines is new, its popularity has spread rapidly. Vending machine consumers have quickly adjusted to using credit or debit cards to make vending machine purchases. As vending machine manufacturers continue to improve cashless vending machine technology, more vending machine operators will invest in new payment media. Many vending machine operators have already been convinced of the benefit of installing debit and credit card readers into vending machines. Other vending machine operators will soon see the profit potential of investing in new vending machine technology.

Recent consumer surveys have revealed that Americans are now more eager than ever to reduce their dependence on cash by using debit or credit cards for small purchases. Therefore, cashless payment media is a valuable asset for vending machine operators to capture new business.

Cashless technology in vending machines has already seen tremendous success. In large public locations like zoos, the new technology has increase vending machine sales tenfold. Other family oriented locations like amusement parks have seen similar results. The new vending machine technology appeals to families because they can make multiple vending machine purchases in one transaction. Additionally, highway rest stops have benefited from credit card readers in vending machines. Many commuters and local families frequent the stops, and have become familiar with cashless payment in vending machines.

Studies have shown that vending machine consumers spend an average of 32% more when paying with a credit or debit card. At education institutions, cashless payment options increased vending machine sales by over 30%. Entertainment venues increased vending machine sales by 25.7% and travel/transit sites increased sales by 23.4% after installing credit card readers. Transactions made in non-vending machine retail venues increased over 70% in the last 5 years. This evidence supports the benefits of cashless payment in vending machines.

Since vending machine operators, vending machine manufacturers, and credit card issuers stand to benefit from this new technology, everyone is teaming up to make cashless vending machine payments possible. The vending machine industry and credit card companies are attempting to make electronic payment fees more transparent to vending machine consumers and operators. This will reduce the hesitation of vending machine operators to install credit card readers in their vending machines. The big picture here is that vending machine consumers are looking for convenience. Adding a new form of payment media to vending machines will encourage vending machines sales by increasing consumer convenience.

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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