Cashless Payment Systems have become extremely popular in a wide range of vending machines today. In fact, a great majority of vending machines have cashless payment systems installed in them alongside Coin Changers and Dollar Bill Validators and or Dollar Bill Recyclers. These cashless payment systems accept all the popular credit cards and debit cards on the market and operate on cellular network connections just like cell phones do. However, they may also be connected via Wi Fi or Ethernet connections. The credit card readers have been evolving quite rapidly over the years and have been evolving with newer and more advanced technology to include other features such as informational touch screens that may serve a number of purposes such as Product Nutritional Facts and Ingredient information on just about all the products which may be found in the vending machine or any food and beverage vending machine for that matter. Therefore, this allows the customer to check out the product information before they make a purchase. This is an especially attractive feature as more and more people are attempting to consume healthier foods, snacks and beverages. These touch screens are also used for advertising, special promotions and social media to name a few.
There are some machines such as for example Photo Booths and other specialty equipment which may only have cashless payment systems in them with no Cash Payment Systems at all. Cashless Payment Systems are now usually standard features in Micro Market Checkout Kiosks, ATM’s and Vending Kiosks of all types, not to mention cash payment systems as well. The fact that fewer people are carrying cash in their pockets has propelled and accelerated the use of cashless payment systems in today’s world. Vending companies have found this to be a great way to increase sales due to the weak sales figures for the last seven years or so.
Cashless Payment Systems are manufactured by a number of companies such as USA Technologies, Nayax, Coin Acceptors, Apriva and many others.