Cashless and digital payments are redefining the vending industry

In the vending industry, a switch to cashless devices can catalyze a big change, especially when combined with telemetry technology, a management system, and customer loyalty solutions.

These solutions together enable vending operators to remotely monitor and control their machines. Instead of visiting machines on a daily basis to collect cash and to see what needs to be restocked, operators are empowered to make decisions on the go, to arrive at their machines with the exact products that need to be stocked and are able to refund transactions more easily in case a product is not distributed.

Automating these processes is, however, only one side of the coin. Cashless and digital payments are not only helping operators optimise their operations, but they are providing a much better customer experience. With tap and go payments, guaranteed refunds in the case of a faulty or incomplete transaction, and loyalty and engagement tools, operators are now armed with powerful sales-drivers.

Operators no longer have to worry about customers not carrying cash, as they can pay with the cashless payment method of their choice, whether it be credit or debit card, mobile wallets, or prepaid cards. The last two are particularly powerful, as they enable the implementation of loyalty programs such as personalized discounts, punch card campaigns, and more.

“Thanks to cashless payments, vending operators are now armed with a myriad of tools that enable them to grow their business more easily and efficiently,” says Lewis Zimbler, general manager, Nayax UK.

“Payment technologies are central to Nayax, and this powerful infrastructure enables us to offer a complete solution to vending operators which includes management and loyalty solutions, helping them expand and future-proof their businesses.”