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Vending Machines Going Cashless

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VendingMachine_Russell_Bernice_FlickrForget the nickels! Cashless payments may be coming soon to a vending machine near you. The majority of vending machine operators plan to add credit or debit card swipers to their machines in 2011, according to a study by Apriva, a company that sells wireless transaction services to the industry.

About 57 percent of companies surveyed said they planned to expand the number of their machines outfitted with card swipers.

“It appears that the vending community is approaching critical mass in terms of adopting cashless technology,” Stacey Finley Tappin, vice president of sales for Apriva, said in a press release.

Going cashless costs between $400 and $600 per machine, according to a story by PaymentsSource.com. That includes the card reader and a data port that sends and receives credit and debit card information.

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Image: Russell Bernice, via Flickr.com

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  • http://www.buychecks.co Joe & Checks

    I didnt think it would be long before they did this with banks going paperless in all other areas it makes sense.

  • http://www.snackshacks.com/vending-machines snackshacks

    Cashless payments may be coming soon to a vending machine near you…we hope so..it makes the vending business more proffessional as well as easy on the banking…no more lugging big heavy bags of coins to do your banking.Vending machines will be used more as people are happy not to have to have correct change or have change. it will streamline the vending industry

  • http://www.vendingworld.com Contactless Vending Machines

    After Apriva and a few other pioneers open the market, more manufacturers based in Asia got their credit card payment modules validated for US. It’s a small computer with a card reader and network connectivity – for example vending machines in remote locations can use Wi-Fi or mobile phone operator networks (GSM/CDMA) to complete the transaction on the bank servers. The next step is now taking place in UK with Barclays and mobile operator Orange – a batch of vending machines in London city center are to be fitted with RFID readers to accept contactless payments. Max payments of 14USD are perfect for vending machines and the concept might catch on and become the natural evolution of paying systems in vending machines.

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