What is Cashless Vending Machine Technology?

Have you ever wondered how a vending machine actually works?
Behind the product dispensing, cash generating vending machine lay the technical aspects which actually make it function. With time, there has been an increasing amount of attention being paid on innovations in the vending technology.

The visible parts include the coin acceptor and bill readers. These are at the front of the machine and used by customers to make payment for the desired products. The product dispenser is also at the front of the machine. The other parts inside the vending machine are the vending trays, channels, bins, rotors, sensors, etc. all these facilitate the customer to get the required items after they insert money and the currency detector verifies that such amount is sufficient to get the desired product.

With advances in vending machine technology, these machines have become more consistent and rewarding with reliable performance. A recent trend has been the increasing popularity of cashless vending machines which accept credit and debit cards. This has empowered people on the run to use vending machines without searching for change and wasting time. This technology results in faster transactions as well as higher profits for the vending operator. The price of products is higher, customers are more satisfied and as a result, vending business has become more financially rewarding.

A large number of good vending companies like Planet Antares Inc. have started supplying vending machines with this technology. This can be a profitable business opportunity if you are planning to start your own vending machine business.

Another benefit of cashless vending machines is the significant reduction in thefts and vandalism. Using cashless payment technology enables your vending machine to go cash-free and hence, prevent damage to your business.

You can also get rid of frequent repairs to your vending machine by using this technology. Coin receptacles and bill readers are commonly damaged with wear and tear as well as constant customer handling. Credit card acceptors are more durable in comparison and also minimize repair expenses for machines.

Remember that such technical innovations will make your vending business more effective and economical, after the initial investment in the machine. However, the success of cashless vending machines will depend on the location and products also. These are not a viable option for schools and children’s products. High priced products are more suitable for such type of vending.

Keep the pros and cons of cashless vending in mind before making a decision to buy such a machine or a more traditional one.