Coming To A Location Near You -- Credit Card Vending Machines
Most people think of vending machines as mechanisms that accept only coins or folding money. In the past this was true -- and still is, to a large extent. But changes in the vending machine industry are afoot -- changes that may soon have you using a credit card vending machine.
Why would vending machine business operators switch to a credit card vending machine when the cash-operated models have stood the test of time so well and for so long? There are actually several reasons -- several factors which are causing these businesses to rethink this strategy --
One social development that is making credit card vending machines a more viable option is the fact that we are fast becoming a cashless society. People are able to make many other types of purchases today without cash, using a credit or debit card. This means that the average person today carries a less cash than at any time before.
Actually the trend toward a cashless society has been underway for some time now. Why do you suppose that so many vending machines now accept folding money in addition to coins? It is because people don't carry the amount of coins that they used to. But fewer and fewer people are now carrying even folding money -- witness the change: it is now possible for vending machines to accept five dollar bills, in addition to one dollar bills. With fewer people carrying cash -- of any kind -- this will make it more difficult for people to make vending machine purchases.
Another factor which is encouraging the placement of the credit card vending machine in more and more locations is the frequent unreliability of the bill readers installed in most vending machines. Who among us has not tried to use a one dollar bill or five dollar bill -- especially if it is old and wrinkled -- only to have it reject. And if the currency-reading mechanism jams, then the machine will be unable to accept further bills for purchases until it is fixed -- and this down time means no sales can be made, reducing the profitability of that machine.
A third reason why credit card vending machines are becoming more popular is simply because they open up new possibilities for vending all sorts of products. Traditionally, sales in vending machines have been restricted to low-cost items such as food, gum and cigarettes -- simply because there is a limit to the amount of spare cash a person carries on them at any one time.
But with a credit card vending machine, the sky is the limit -- theoretically, at least. How about a vending machine that dispenses perfumes and colognes? How about a vending machine that dispenses music CDs or books? With a credit card vending machine the consumer can make a higher dollar purchase -- so we may someday even see vending machines located in secure areas which dispense cell phones or MP3 players!
And finally, for vending machine business operators who already have a substantial financial investment in traditional cash-operated vending machines, there is some good news -- manufacturers are starting to spring up who are offering credit card reading devices which can be installed in many current models of vending machines, transforming these older models into a hybrid cash/credit card vending machine within minutes.
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Jenny
Posted 164 days ago
I own a large laundromat and have always had several vending machines in the lounge area. I am seriously considering putting in a credit card vending machine. I think it would cut down on the vandalsim.
