VENDING & WATER COOLERS
WHY CASHLESS IS PRICELESS
It used to be that not carrying cash was the preserve of royalty and the perpetually hard up. Now it’s the norm for over 50% of us, according to recent research. Sales Director for Crane Merchandising Systems, Mike Kane argues that having cashless payment systems in place in your buildings has never been so relevant, particularly when it comes to vending.
Demographic surveys show that we’ve reached an age where younger people, in particular, are becoming less reliant on hard cash and are now embracing payment through new technologies. In fact, a growing number of us, regardless of age, don’t carry any cash at all, never mind the pocketful of change traditionally required for vending machines and parking meters. We actually prefer to use one of a selection of cards for even the smallest of purchases.
18 | TOMORROW’S FM
The rise in the popularity of smart phones has ensured that a wider cross-section of individuals can now access technology and are more open to the prospect of mobile payment platforms. Apple Pay, the new contact payment technology, is set to launch in the UK in July, enabling those who have an iPhone 6 or Apple Watch to use these devices at till points, accessing credit or debit card data via an app.
Our love affair with smart phones has, of course, been evident for
some time and shows no sign of abating at this point in time, along with the level of flexibility in accessing our money and credit.
And so cashless payment takes the vending industry to a whole new level. From once providing a product that presented the end user with cash restrictions in the form of a requirement to have the right money, vending machines can now take their rightful place at the forefront of convenience. Think for a second: What other offline retail
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