In our ever-increasing cashless society, wouldn’t it make sense to create a cashless vending machine? According to the Bloomberg BusinessWeek, however, “…most of the 5 million vending machines in the U.S. still accept only coins or bills, even as prices rise.” And when many people don’t even carry cash any longer, that means those vending machine operators are losing sales and profits.
To fix this problem, vending machine manufacturers are designing and installing vending machines that accept credit and debit cards, the most common way for Americans to pay today. Some of these machines, called “smart vending machines” can even accept payment with a smart phone and then allow the customer to charge their smart phone at its very own smart phone charging station.
This new method sure brings convenience but what about security? According to Vending Times, the vending industry’s leaders held a seminar during the 2014 Atlantic Coast Exposition to discuss just that. For example, Lauren Miller, whose credit card vending machines appeal to customers who don’t carry cash, says that his vending machines operation “doesn’t touch your card, and doesn’t store your data.” This means fraud, which is reportedly low at $1 for every $1,000 spent at vending machines, is minimal.
While security for the consumer who engages with a cashless vending machine is safe, the same can be said for the vending machine owner. For example, at Intelligent Dispensing Solutions, they never track customer’s information, but they do use a system that tracks the inventory data for any vending machine anywhere and makes that data available to their customers at any time. This means inventory control just got easier and smoother than ever.
Instead of having to visit every office vending machine to check on inventory levels, you can check your inventory remotely from anywhere there is Internet service. Furthermore, operators can also access data that helps them choose the right items to stock their vending machines by knowing what is and isn’t selling according to stocks. On top of that, vending machine operators get more sales with cashless vending offered by Intelligent Dispensing Solutions who never store payment information, keeping your customers safe and secure.
The future of cashless vending machines is gaining ground because it is easier for consumers to pay with debit cards, credit cards, or their smart phones. Smart vending machines are where vending operators need to grow their business in order to survive. Using cash to pay for a candy bar or a can of soda is becoming less and less convenient in our modern cashless age.
Cashless vending machines accept credit cards and mobile payments. And you can charge your phone at the same time.