It’s no secret that the vending industry tends to be late adopters to technology. As in other industries, the consumer is the driving force when it comes to change. Thus, operators have been forced to embrace cashless payments as a matter of necessity.

Consumers are carrying less cash than ever before. In less than a decade, the share of Americans who go “cashless” in a typical week has increased by double digits. According to Pew Research Center, four-in-ten Americans (41%) say none of their purchases in a typical week are paid for using cash, up from 29% in 2018. 

Given the change in consumer habits, operators have embraced cashless payments to maintain a strong ROI for their machines. In addition to cashless payments, there are other options that deliver an increase to your ROI.

Cashless payments offer these options:

• Credit and debit cards
• Mobile apps – Apple Pay and Google Pay
• Contactless Radio Frequency Identification (RFID)

Remote monitoring: Most cashless payment systems include the technology to track machines remotely. This typically includes low stock service alerts, function issues, dynamic scheduling for product replenishment or more.

Sales Customization: Product sales information can now be used in conjunction with robust business intelligence to help adjust offerings based on sales data.

With consumers driving retail sales with preferred methods of payments, upgrading your vending machines to meet the growing trends is now mandatory. Research proves that when the consumer is able to purchase via cashless – they spend more per visit and are more inclined to improve their loyalty. 

If you’ve put off upgrading your machines to cashless, we can provide a proven path to increased sales, greater efficiency of your time, and less headaches from restocking demands. 

We have decades of experience providing cashless and connectivity innovation. There is only one company that provides total vending machine solutions. Just one – InOne.