Cashless Solutions for Vending Machines Market Growth
May 9, 2019
Cashless solutions for vending machines are helping to boost the growth of the market across the globe. In fact, worldwide, the market will be worth US$ 6.5 Bn in 2019 according to a new report.
Cashless solutions for vending machines increasing their use
Cashless solutions for vending machines mean that not only is the predicted market huge now, but it has no signs of slowing down. The CAGR of the global market is at 11.2 per cent according to the new report by Market Research.
New 5G technologies, and intelligent touchscreen vending machines, combined with cashless payment solutions are driving the large growth in the market. Consumers increasingly want easy to use self-service machines, and ones that can accept their simple and fast cashless payments.
The US remains the biggest market. Somewhat surprisingly, the market for vending machines that sell commodities slightly outweigh those that sell beverages and snacks in the overall global market.
The research concludes that the only thing slowing down an even greater growth of the market is the high cost in installing such new machines and the energy cost in maintenance.
BioStore vending machine adaption
BioStore can help companies make cashless solutions for vending machines part of the overall cashless catering solutions. Staff use pre-paid accounts to pay for their lunch, drinks or snacks at the company canteen and at vending machines. That means all they need to do is scan a fingerprint or smartcard or enter their authentication PIN to pay.
We help organisations implement new vending machines with touchscreens and cashless payment capabilities. However, the cost of this approach can be off-putting. That’s why BioStore offers the ability to retro-fit existing vending machine to accept cashless payments on your catering system.
Your existing vending machines can be updated and integrated into a cashless solution, making them useful and convenient for your employees, students, or customers.
Bring the benefits of cashless vending to your organization with a minimum fuss and minimum costs.