Contactless Payment Technology Drives Vending Machine Revenue
TouchGo Technology combines flexible contactless and contact (no pin) payment options, an interactive touchscreen and high definition video, enabling vending operators to increase the number of transactions and average sales per transaction.
Vending machine operators are looking for ways to reverse the decline in sales over the past few years. This trend is evidenced by three years of falling U.S. vending machine sales, including a three percent drop in 2010, according to the “State of the Vending Industry Report” published by Automatic Merchandiser*.
In an effort to buck this trend and help to accelerate vending sales, TouchGo Technology supports several new vending machine innovations that increase customer-engagement and the number of available customers. For example, vending operators can serve more customers with contactless payment technologies, such as Visa payWave* and MasterCard PayPass* cards that allow customers to “Tap & Go” —no pin number entry required. “With payWave and PayPass contactless sales, the average transaction value has gone up by 25 to 30 percent over sales through a cash-only-based vending machine,” says Per Hovland, managing director at TouchGo Technology.
EMV*-based contactless payment also creates a paradigm shift: from making customers pay before choosing an item to allowing them to pay after selecting multiple items; customers can also use coupons and coordinate purchases with other nearby machines. Now it’s easier and more fun to buy multiple items. A vending purchase is often an impulse buy, which is aided by payment flexibility and dynamic merchandising.
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