Back in the day, having a vending machine equipped with a coin slot was enough. Then as time went on, adding a dollar bill acceptor became top-of-the-line. However, with fewer and fewer people carrying cash on hand, smart vending machine operators and business owners know that having a credit card reader on a machine is key to increasing sales and has become the standard for vending machine operators. USA Technologies, the leading developer in cashless systems, reports credit card payments to increase average vending machine sales by 30 percent over cash. While some worry about monthly fees or per-use fees, they pale in comparison to the increase in sales you’ll experience.
Types Of Credit Card Readers
Swipe readers or chip readers, two different ways of accepting credit cards, can be added aftermarket to a machine you already have or can be built into newer machines on the market. Either way, going cashless is a great way to maximize profits and ensure that you don’t miss out on any sales just because your potential customer doesn’t carry cash. Additionally, some readers allow customers to pay with their smartphone or tablet rather than using cards at all, making sales even easier for both you and the customer.
Many aftermarket and some built-in credit card readers also include a mobile app that offers mobile management and monitoring for your machine. For customers who use the mobile app, they are offered the opportunity to earn rewards in the form of credits or free vends.
In short, there’s almost no downside to adding a credit card terminal to your existing vending machine. Any cost outlay is recouped almost immediately in the form of increased sales, and you’re making the entire process easier for you and your customers.