Benefits of Contactless, Cashless Vending

Contactless, cashless payment options can come in many forms: plastic cards, flexible tags, mini cards or key chain fobs. This payment form only needs to be within the proximal range of the device reader for a vending machine transaction to take place. This is unlike credit cards, which must have a working magnetic strip that is properly inserted into a card reader. Contactless cards do not require direct contact or the line of site. That means that you can purchase a soda from an Antares vending machine while your contactless card remains in your purse or wallet. Here are some of the benefits of using this form of payment.

1. Increased consumer convenience: Payment media comes in different forms that are tailored to a consumer’s preference. You can easily purchase any product from Antares vending machines as well as other machines, without having to smooth out crumpled dollar bills

2. Faster transactions: the transactions are rapid. This will come in handy for someone on their way to work who wants a cup of coffee. It also will be convenient for those who have no time to sit and grab a snack.

3. Extended media life: since there is no direct contact, there is little wear to the payment media

4. Increased security of transactions: the payment media will never leave the possession of the consumer. Information exchanged via the contactless media is not account information but a fully encrypted identifier which offers more security than conventional credit cards.

Contactless, cashless vending may help the vending machine industry to catch up with the rest of the retail sector. It will give your Antares vending customers the extra convenience of quick transactions. It will also give you the operator, the benefit of reduced cash management. If you are interested in adding contactless, cashless payment options to your Antares vending machines, you must be careful of where and how you implement the new technology. Adding payment options to individual Antares machines will not be effective because a consumer who must use cash to purchase snack from one machine will most probably not use their credit card to purchase an item from an adjacent vending machine. You need to be smart in your selection of locations to increase average vending machine purchases by 15-20%.