The Growing Trend of Cashless Vending

The Federal Reserve Board reports that electronic transactions far exceed payments made by check or cash. This trend is only expected to increase, with credit card purchases growing at a rate of 7% annually and debit card transactions increasing at a rate of 21% annually.

It has also been noted that customers tend to purchase more products and spend more money when using cashless payment options. This is because there are no exact change requirements, nor are there any limits on their spending. Economists have noted that the public is inclined to make impulsive purchases when paying with a credit card. This would definitely be more profitable for your Antares vending business.

Some time back, the public seemed to express reluctance over using credit and debit cards for small dollar or low value transactions. With the prevalence of cashless transactions everywhere, consumers have greatly changed their attitude towards cashless transactions. Today these transactions are carried out daily when it comes to all kind of purchases. Practically everyone is using credit or debit cards. The increase in their use has resulted in an increase in sales and product units sold.

In vending, cashless vending is a concept that has just began to catch up. Many companies are taking up this concept. Antares Corporation is yet to take up this growing trend. In the near future all vending companies will adopt this kind of payment option. It is more convenient way to handle your business and will ultimately bring in higher sales and more profits for your Antares vending business.

Cashless vending, one of the strategies of v-commerce, is expected to enhance customer convenience, increase sales and profitability, and improve your Antares vending efficiency. The vending technology has been around for over ten years. Only recently, there has been a demand in improving cashless vending technology

In the vending industry, there are only three percent of the eight million vending machines equipped to support cashless vending options. Vending operators are reluctant to take up this new technology because of lack of experience with the new technology and the total cost of the technology. However it is a concept that you should consider taking up for your Antares vending business. All that you need to do is to load cashless vending applications into your vending machines. In the long run it will pay off.