Credit Cards

Vending Machines Going Cashless

Advertiser Disclosure Comments 3 Comments

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.

[Product Spotlight: Get all 3 Credit Reports with Equifax’s 3-in-1 Monitoring with Credit Score]

Image: Russell Bernice, via Flickr.com

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

  • 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.

  • Pingback: Article One | My Blog()

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.