Published: 30th September 2022
Whilst contactless payments had started to grow in popularity, it was the COVID-19 pandemic that saw them really boom. With fears of handling cash that had been through countless hands or pressing buttons that hadn’t been cleaned for a while, suddenly the whole world seemed to become contactless overnight.
This didn’t seem dramatic in settings such as shops where we were already used to this service, but rapidly it became clear that every form of payment could be made contactless, including vending machines.
If you haven’t noticed, contactless payments have been steadily increased around the world. Long before COVID-19, some banks had already recognised the increase of non-cash payments in June of 2019, which had become even more significant as we entered into 2020.
Countries such as the USA have also noticed this trend with highlights on the vending machine industry. According to NFCW.com, they received data which stated almost 50% of payments through vending machines were now contactless.
This growing convenience shows how our attitude towards payments is changing, and although billions of cash payments are still being used, there is anticipation that contactless payments will continue to grow.
For many years, a vending machine was only accessible if you had the right coins in your pocket. Now, thanks to contactless payments, vending machines can be used by anybody at any time. This has meant that many vending machines have taken on a new lease of life, whether they are in a workplace, a leisure centre, or a train station.
Once upon a time, many people might have walked past them knowing that they did not have the right change, but now anyone can use them with just a swipe of a card, a phone, or a watch.
They work in the same way as any other contactless payment method, leaving the rest of the vending machine to work in the same way that we have been used to. Simply choose your item, make your selection on the panel, and pay.
Even if you have an older machine that still wants cash, you can upgrade to have a contactless payment system added to ensure that your machine moves with the times.
Contactless payments soared when we all became more conscious of how easily germs and viruses can be spread. When we stop to think how many other purses or wallets your money has been through before it gets to yours can make your stomach turn. Not to mention the many fingers pressing buttons on a keypad. Contactless vending is a great way of removing fear and making your vending machine something that everyone is comfortable using.
On top of that, contactless payments further increased when the limit was increased to £100. Clearly showing the power of contactless payments, and how many customers are comfortable with the speedy check-out process even up to fairly substantial amounts.
Contactless vending technology also brings huge levels of convenience. It is now the perfect way to grab and go as you no longer need to worry about having the right money. We all have a form of electronic payment with us at most times, so whether we need to quell our own thirst or the hunger pangs of a hangry child, everyone has an option.
This increased accessibility only serves to make each vending machine more profitable. With more people than ever using them, the amount of money that they can make for the owner is rocketing. Many public places are now looking to install more than one machine to increase the range of what they can offer and make their bottom-line boom.
The addition of contactless payments to vending machines might seem like a simple thing but it has transformed the way that they work. Now both the owners and the users can benefit from machines that offer a wide variety of food and drink in the most convenient way possible.
Our range of cashless and contactless vending machines ensure a variety of payment options for safe, hassle-free vending that everyone can enjoy. Already have vending solutions? Simply install a Nayax card reader to allow contactless options. For more information or to enquire about our contactless vending solutions, please contact our team today.