Kiosk Solutions Issue 19 - Page 27

cashless vending expected, also had more contactless payments. Although healthcare had a closer percentage of people using contactless, more consumers opted to use it over chip and pin. Education was the only sector in which contactless was used less than chip and pin. Consumers in the education sector much prefer to use card, and yet showed a slight increase in chip and pin payments. This is unusual as results show that younger consumers favour chip and pin. Despite a surprising percentage of cash users in the leisure sector, the majority of our consumers paid with a card. It will be exciting to see how this changes over the next decade. Providing service As a vending company, we occasionally have issues with our machines. When products fail to vend, it’s easy to refund consumers who pay on card. Of course, with no constant staff on-site, refunding by cash is more problematic. Speed The speed to pay by contactless offers consumers a much faster and more convenient purchase. Without the need of digging through their pockets looking for change, they can simply tap and pay. It’s predicted that by as soon as 2026, cash payments will fall to 21%. It’s now time to make the switch. We need to adapt to buying trends to stay ahead of the game. For us, this means our vending machines need to be equipped for both now and the future. At the very least, every single vending machine should be fitted with a card reader. We have seen entire sites convert to completely cashless vending machines. The benefits of cashless vending There are still people who choose to make purchases with cash. However, there are far more benefits to having completely cashless vending machines, including the following: 1. To meet the demand One thing is for sure, consumers are carrying less cash and are more inclined to spend money on card. Therefore, it makes sense to offer this option. Although only a small percentage choose to pay via mobile, this is expected to rise considerably in the near future. KIOSK solutions 27