Cashless Payment Options
Vencoa's prices are lower than machines from Selectivend, Fawn, Federal, or USI.
With the proper hardware and/or software and equipment, vending machines can be equipped to support the following cashless payment options:
A credit card represents an account with an established line of credit through a financial institution. Payments are made against the account and deferred through a loan. Since credit card purchases are a deferred payment process, handling and processing fees are involved. However, since credit card purchases are most common, the fairly significant increases in sales oftentimes offset the handling and processing fees for small dollar transactions.
There are three different types of credit cards: bank card, travel and entertainment cards, and proprietary cards. Bank cards, such as Visa, MasterCard, or Discover card, are issued by a bank based on the cardholder’s credit. Bank cards offer installment payment programs. Travel and entertainment cards, such as American Express or Diners Club Card, are issued by private companies and, unlike bank cards, do not always offer installment payment programs. Proprietary cards are issued by a private entity, such as a retail store, where that entity not only issues its own credit card, but also serves as the billing and collection agency.
A debit card represents an account in which the transaction amount is immediately subtracted from the cardholder’s account and transferred to the vending operator. Most debit card purchases require a PIN number authorization. However, since there are no PIN-pads attached to vending machines, many small dollar transactions don’t require the PIN-number authorization.
A smart card features an embedded microchip on its surface, allowing it to be used as either a credit/debit card or as a stored value card. Stored value cards function by diminishing the stored value amount as purchases are made against the card’s value.
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Buy Soda Vending Machines from Vencoa
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 Info Request form
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 Info Request form
*Vencoa is an authorized distributor of USI vending machines and is not an authorized distributor of Selectivend products.