Be honest, how often do you keep cash on you? There’s a good chance that your answer to that question might have been “never”. As cashless payment options have become both more common and more secure, transactions with cash have been forced to take a back seat. Especially with young people, the idea of going to the bank, or even to an ATM, seems pointless. With automated bill payments, direct deposit, and apps that let you manage credit cards and bank accounts, the need to actually go to the bank are few and far between, making taking cash out of the bank more of a hassle. But what does this mean for vending machines? A recent study seems to suggest it might mean a whole lot.
As people, of all ages, use cashless payment options more often, the less they actually carry cash on them. So, if a hungry college student wants to grab a snack at a convenient vending machine, they may wind up totally snubbing the machine if it only takes cash and they aren’t carrying cash on them. Michigan State University and vending provider USA Technologies conducted a study that found that machines with cashless options saw a significant boost in sales.
This boost means that your business can potentially benefit from using the more advanced vending technology on the market today. Not only do cashless payment options give people more opportunity to use vending machines, but the research done by MSU also seemed to suggest that even cash purchases increased when the machines had cashless payment options.
At Bevco, we try our best to keep on top of the everchanging technology in vending technology. We offer machines that have the most advanced features in the business, including secure cashless payment options. Aside from that, we have machines with technology that allows us to monitor the supply in your machines and restock your machines easily. And you won’t have to worry about keeping money around for undelivered vending snacks because our machines have sensors that ensure snack delivery.
If you’re interested in vending machines with cashless payment options, Bevco is here to help. Contact our team today to discuss what vending options might work best for you.