Why Install a Cashless Payment System for Vending Machines?
April 10, 2018
The use of a cashless payment system for vending machines has proven itself successful around the world. There’s no reason they can’t be a success back home in your workplace, school or organization too. Giving users more options is never a bad thing when trying to increase uptake.
Benefits of a cashless payment system for vending machines
In Asia in particular, we have seen many examples of a cashless payment system for vending machines succeeding. Take a recent report from the China Commerce Association for General Merchandise for example. The report found that the introduction of cashless payment options on vending machines in a range of trials had vastly improved customer satisfaction. By adding mobile payment options to vending machines and self-checkout vending machine stations, customer satisfaction jumped from 55 per cent to 85 per cent.
Another Asian location that has really embraced vending machines is Singapore. Last year the country recorded revenue of $67.2 million from vending machines. The Government has supported and encouraged the automation of retail to the point that some businesses are abandoning shop fronts for vending machines entirely. The business Kalms for example has packed up its teddy bear shops and instead installed 50 vending machines across the country.
Homeless vending trial ends
The explosion of cashless vending machines has not really taken off yet here in the UK like it has in Asia. And unfortunately, one interesting experiment in Nottingham has come to an end. The council, with the help of the Action for Hunger charity had introduce free vending machines for the homeless in the city. The programme has come to a premature end though and Toby Neal from Nottingham City Council said:
“This is a well-meaning but misguided and ill-informed attempt to address complex problems faced by people with accommodation and health issues.”
The charity has described the decision as a shame. The vending machines allowed social workers to give homeless people a card that granted them access to essential supplies from vending machines three times a day. Items included basic amenities like food, socks and toothbrushes. The charity plans to take the programme to other councils and try again.
BioStore’s cashless payment system for vending machines
It might not have worked quite yet for the council’s homeless policy, but a cashless payment system for vending machines has huge potential here in the UK. As we have seen in Asia, when you give users more options and flexibility, you can increase the uptake and use of vending machines.
Here at BioStore, we allow organisation to make their workplace vending machines cashless as part of our Identity Management solutions. You can make the office vending machines a valuable part of a Cashless Catering solution, and not just part of the furniture, a machine walked by and ignored by most.
You allow employees, students or visitors to make a purchase from vending machines using only a scan of a fingerprint or smartcard. There’s no need to ensure you’ve got change on you – users can always access the vending machine with cashless payments. BioStore can retro-fit existing vending machines to accept cashless payments or install entirely new ones for organisations. Find out more about our cashless vending solutions.