Contactless Payments: A New Vending Resource

The vending industry has always struggled to keep up with the retail industry. The latest technology trend may just be the key to the industry’s resurgence. To do this you will need to eliminate the fuss of cash transactions. Credit and debit card vending machine transactions are much more convenient, but contactless, cashless payments are even better. Imagine being able to purchase a soda from an Antares vending machine on a very hot day without having to take out your wallet.

Contactless, cashless payment options are something new to the vending industry. Gasoline retailers and toll road operations have been using the technology for over 10 years now. Contactless, cashless transactions simply require a plastic card, flexible tag, mini-card, or key chain fob embedded with a microchip to pass within the proximal range of a device reader. There is no direct contact or line of sight required. All you have to do is place the card in close proximity to the Antares vending machines for the transaction to occur.

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 payments which mean more transaction volume for the Antares vending machine operators.

There were 13, 370 domestic restaurants that accepted contactless, cashless vending in 2005. Implementation at fast food restaurants showed a reduction in purchase transaction time that was sufficient enough to impact the restaurants ability to support a higher volume of transactions.

The vending industry is already known for its convenience. People count on candy/snack and soft drink Antares vending machines for quick satisfaction. Contactless, cashless vending would help to further promote the efficiency and ease of Antares vending machine transactions. Consumer buying habits are changing to favor cashless payments. The vending machine industry should grasp this opportunity to bring the business up to date with the growing trend. This would increase revenues by allowing vending machine consumers more flexibility in payment options. This would definitely bring in more profits for your Antares vending business.