Consumer Payment Card News

Vending Lift

Credit cards and vending machines apparently go together like peas and carrots. A new study has found that Americans spend 76% more when using a credit or debit card for vending machine purchases. The analysis of more than one million purchases made at vending machines shows the average purchase was $1.87 when a credit or debit card was used, compared with $1.06 for a cash purchase at the same machine. Pennsylvania-based USA Technologies conducted the survey of vending machines that use its “e-Port” technology. On 450,000 occasions, consumers preferred to use their credit and debit cards when making purchases from vending machines, and they made many more multi-purchases. For example, one hotel in Phoenix reported that average transactions had risen from $1.32 to $3.39, with 75% of all vends being multi vends. The market analysis of USA Technologies showed that the cashless transaction capability increased sales by 140% at vending machines located in Regal cinemas, and by 79% at a Paramount amusement park last year. It is estimated that 50% of all vending machines in the $40 billion U.S. vending industry will be equipped with cashless transaction technology by 2008.

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