Vending machines have always been associated with the sound of change dropping, or the frustrating cry of a consumer as his dollar bill is yet again discharged from the opening. However, thanks to cashless mobile payment technology, those days are quickly becoming nonexistent.
There are now amazing cashless payment systems designed specifically for unattended retail. They can be utilized by anyone with a debit, credit card, or mobile phone in substitution of cash. With one swipe or tap, the payment is processed in seconds and the customer receives their products. There is no longer the annoyance of exact change or wrinkled/rejected bills. Everything is done electronically.
Mobile payment systems include Google Wallet, Android Pay, Samsung Pay, or Apple Pay. To use this feature, the consumer would simply hold a compatible cell phone in front of the reader; payment will be deducted automatically and the transaction will be complete! In general, the cashless card readers have proven to be a great investment by vending business owners due to their easy use and convenience.
The impact of cashless payment systems on vending revenues is HUGE: a recent study by USA Tech found that adding cashless payment systems increased revenues by 86%!
Setting up a cashless payment system on a vending machine is super easy. No phone or electric lines are needed. It will connect to the MDB system of the vending machine and establish connection via a built-in sim card in the card reader to the payment network. Once an account is established with the provider for the merchant processing, then the card reader will go live.
At the Discount Vending Store all of our new machines will now accept Android Pay, Apple iPay and Google Wallet.