A newly released infographic from point-of-sale software operator USA Technologies shows a number of the key trends within the vending market.
“A recent year-over-year analysis of data from USA Technologies’ knowledge base shows vending consumers continue to buy more, spend more, and buy more often with credit and debit cards,” the Pennsylvania-based company said.
Average annual cashless sales increased by 28% over the last year, rising from $2,719 in May 2014 to $3,477 in May 2015. Consumers spent, on average, 32% more when they paid with card compared to when they paid with cash – or, in figures, $1.60 per customer compared to $1.21.
Average cashless usage at locations equipped with USA Technologies’ ePort Cashless Payment System went up to 37% – 5% higher than a similar period last year. The figures were obtained from a data set of approximately 100,000 vending terminals with more than 90% reporting both cash and credit sales.
Apple Pay accounted for roughly two thirds of all the money spent through contactless payment across the three major American card networks, according to figures from the California-based technology giant. The release of the data follows the news that Coca-Cola would offer 100,000 Apple Pay-enabled vending machines in North America before the end of the year.
USA Technologies has already announced support for Apple Pay at nearly 200,000 locations.
USA Technologies vice president of deployment services Jim Turner said: “We believe that the results of our 2015 Knowledge Base Study demonstrate the industry’s acceptance of cashless and the revenue potential for the vending and unattended markets. USA Technologies has seen a meaningful growth in the use of cashless payment solutions. Based on data from our knowledge base and, given the availability of our performance optimisation program that helps assist owners and operators drive the best return, we believe this is the year for many operators to go 100% cashless.”
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