CASHLESS VENDING


Unstoppable cashless


The popularity of cashless payments has grown rapidly in the last two years, but is this trend here to stay, and what more is to come?


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ince the arrival of coronavirus, we have seen a rapid acceleration in the adoption of cashless technologies


with coin-based vending machine operators and manufacturers being encouraged to consider integrating cashless payment solutions to their machines. Vending has always been at the cutting


edge of technological developments. The plain metal box people associate with vending has changed considerably, from the addition of screens to provide product information, to cashless and even contactless technology – all connected to the ‘internet of things’. According to the 2020 AVA census, almost


half (47%) of all pay-vend vending machines support cashless payments, which was a 235% increase in the three years prior. David Llewellyn, chief executive of the


AVA says: “As well as a rise in cashless, we are seeing an increase in phone payments too, which has risen by 27% in the three years leading up to 2022. This is a trend that we are likely to see continuing to rise in


14 | vendinginternational-online.com


coming years, as more people choose to rely more on their smartphone for payments and passes. “We have seen the suggestion that


contactless payments made using mobile phones is set to almost double over the next two years – twice as fast as the growth of contactless card payments. It will be interesting to see how this is reflected in our upcoming census, with results set to be released in May 2022.” The last AVA census revealed that where


credit card or cashless systems are fitted, two thirds of sales were cashless. With the average transaction value almost 38% higher than cash transactions. This evidences the greater demand for cashless options and in response, the industry has seen a significant growth in cashless- only machines. Mr Llewellyn says: “As consumers grow


more comfortable with these types of payment, it also opens the door for more automated retail opportunities, such as micro market vending – a custom designed vending market or mart with a self-checkout


kiosk. The 2020 AVA census showed there are 200 new micro markets in operation since last year, with around 320 now installed across the UK.


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