Meet the shift in ways people are paying by pairing your vending machines with contactless payment technology, this can be installed when you acquire new machines and retrofitted to most pre-existing machines.

The way consumers are paying for items is moving closer to a cashless society and vending can now facilitate that change. Altering the way we perform our daily transactions, has led to payments becoming a quick and effortless process that can also reduce unnecessary contact.

Need to know payment trends:

  • Cash payments continued to decline, falling by 16%
  • Contactless payments made in the UK increased by 31%
  • More ways to pay with the introduction of phones and wearable devices

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Cashless society

UK Finance recorded that cash payments continued to decline in 2018, falling by 16%. During 2018 there were 5.4 million consumers who almost never used cash at all, instead relying on cards and other payment methods to manage their spending. This was an increase from 3.4 million consumers the previous year, showing the growth in people who are living an almost cashless life.

Rise of Contactless

UK Finance also found the number of contactless payments made in the UK increased by 31% to 7.4 billion payments during 2018. There were also nearly 124 million contactless cards in circulation at the end of 2018, with 84% of debit cards and 64% of credit cards in the UK having contactless functionality.

Reduce unnecessary contact

On Stride Financial found the average £10 note will have been touched by 594 different people during its 36 month life span. Contactless payments can help cut the spread of bacteria and viruses by reducing the need to use cash.

Several ways to pay

With advancements in technology, there are now several ways to use contactless payment. The first is with a contactless ready card, another method is via an NFC-enabled mobile phone and the third is using a wearable NFC-enabled device. Most new devices come NFC enabled, if not you may have to stick with your card.