CASHLESS VENDING


The correct change


A cashless society is a concept that may still sound a little bit far-fetched, but it’s a lot closer than some might think. VI looks at what this means for vending


Sweden is expected to become the world’s first cashless society by March 2023, when cash will no longer be accepted as currency in the country. In the UK, though cash is still a first choice for large sections of the


population, things are changing rapidly, and a recent Which report even speculated that we could be headed towards a cashless society within the next 15 years. In vending, cashless has many benefits so it’s worth noting what


some of the industry’s key players have to say about the advantages, how it shapes their product offering, and what operators need to do to prepare.


CONTACTLESS Worldpay recently announced that contactless payments overtook chip & pin in June 2018. Combine that with the Visa/Mastercard deadline for all card machines to accept contactless by 2020, and you have an environment where all customers will naturally be using their cards more routinely for small amounts. Jill Bode, Vendotek UK business development manager says vending operators like any retailer, need to be prepared for this permanent change in spending habits. “Whilst some operators still see adding contactless as a pure cost


in the short term, those that are focusing on longer term sales will see it’s actually a massive opportunity for growth, and that by choosing the right contactless solution a whole host of other benefits can be gained, that will improve the efficiency of the whole operation.” Vendotek tackles the challenge with its own plug & play contactless solution. Described as being simple to install, it connects instantly via a 3G SIM enabling immediate service, providing rapid payments and competitive acquiring rates. “The fact is that today’s vending consumer behaves exactly the same as their retail counterpart. They want their item immediately and they don’t want to have to return later with cash in order to make the purchase. “Vending machines are open 24/7,


which means their payment options need to be foolproof in order to maintain all of those sales opportunities. Contactless provides the gateway for all types of purchase, whether it’s regular, scheduled or impulse – which in turns keeps your customers spending.”


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QR CODES While contactless is reasonably common place, Nayax is putting its cashless payment focus on the use of QR codes considered to be particularly desirable for Chinese tourists who make up 21 per cent of the annual global tourism spend. Managing director of Nayax, Lewis Zimbler, said: “Many countries


already experience life without cash with the world as a whole headed towards this reality. “With people crisscrossing the globe more frequently, providing payment methods that tourists are accustomed to using in their home countries, can present operators with more sales opportunities.” “While the vending industry is increasingly going cashless, some payment methods are not as well known. One such method is QR codes, perhaps not as well known outside of Asia. “However, with 100s of millions of daily users via social wallets like


Alipay, Paytm and WeChat Pay, QR code payment acceptance presents a significant market for operators. Offering this payment method provides Chinese travellers with a convenient experience and broadens operators’ appeal to a global market. “In a world with less cash, any potential customer should be able


to approach a machine and find a payment method they’re comfortable using, which also offers security, speed and ease of use. “If operators are equipped to accept a wide range of payment methods, including ones that might not be regularly used in their own countries, they can attract a larger market and increase their sales.”


TELEMETRY SERVICES Suzohapp believes the demand for cashless payment systems opens up opportunities to offer a full range of telemetry services that operators can and must take advantage of it.


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