by Shane Henson — August 26, 2011—Facilities managers who oversee vending machines in canteens, offices, universities, and other settings may want to consider using ones that are cashless. Doing so could help their companies increase revenue while canceling out the need to count mounds of money.
USA Technologies Inc., provider of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, recently announced that consumers, on average, spent one-third more when making a cashless purchase than a cash purchase. In addition, cashless purchases made up approximately 26% of all sales at these vending machines. These and other findings were based on its July 2011 survey of over 10,000 traditional vending machines utilizing its ePort cashless payment system.
Highlights of the study include:
- Consumers spent 33% more, or $0.37 more per transaction, when they used a card versus cash on a machine equipped with an ePort, increasing the average transaction from $1.13 to $1.50; and
- Cashless usage was approximately 26% of total sales on machines equipped with an ePort—up 73% from 15% usage in a similar study conducted just three years ago.
USA Technologies believes that the increase in average spend per transaction, increased consumer usage, and positive results for ePort customers have driven accelerating adoption of its ePort cashless payments technology. According to USA Technologies, this is evidenced by the fact that the number of customers on the ePort Connect Service has risen from approximately 1,000 at June 30, 2010 to approximately 2,000 at June 30, 2011, or 100%, and connections on the service have risen from approximately 82,000 to approximately 119,000, or a 45% increase over the past year.
Facilities managers and others interested in understanding the latest data/trends outlined in the study or who would like more information on how USA Technologies’ ePort cashless payment system can positively impact their business can visit the company’s Web site.
