The report highlights the common practice of outfitting only high-volume machines with cashless technology, but the study’s findings suggest that low-performing vending machines can provide revenue growth once equipped with cashless hardware.
Vending operators that added cashless technology to machines experienced a sales growth of 110% on average over the first 18 months following deployment. This compares to the average 35% increase on the total population of machines studied.
Other study findings on average over the first 18 months following cashless technology deployment include:
26% growth in total transactions;
74% increase in credit card transactions and 13% increase in cash transactions;
70% of all growth was accounted for by increased transactions;
spend per transaction rose by 7% overall.
The results of the study were based on sales activity of 250,000 vending machines connected to USA Technology’s cashless payments platform nationwide, including 95,000 “low-performing” machines.
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