It’s clear to see how new technologies and mobile devices have become fully embedded into our current society. With nearly two thirds of Americans owning smartphones and thousands of apps available for facilitating day to day activities, it’s time to look at how the vending machine industry can capitalize on this growing trend.
Research conducted by USA Technologies on the use of Apple Pay in vending machines suggests consumers are more likely to not only make a purchase, but also more likely to spend more on their purchase if the technology is available.
The study found that after 24 weeks there was a 36.5% increase in overall sales and a 55.5% increase in revenue. As more and more businesses begin to implement these mobile technologies, Apple Pay and other smartphone technologies will soon become the norm for transaction payments.
Vendors should consider mobile payment for the following advantages inherent in its use:
- Ease to use. Smart technologies are designed to be intuitive. Apple Pay interfaces are easy to use, and not just for individuals who are familiar with Apply products.
- Security of transactions. Beyond convenience, there is a growing need for increased security in transaction payments. After multiple incidents of credit card breaches and fraud, it is incredibly important for customers to feel safe when making a purchase. Apple Pay provides consumers a secure method of payment designed by a brand they know and trust.
- Convenience in a busy world. We live in a time where convenience is the number one priority for consumers. With the growing amount of options, if a customer is not able to find that convenience with your company they will just go somewhere else that can. It has become absolutely crucial in the business world to keep up with trending technologies.
With the obvious financial success and increased customer satisfaction, mobile payment is the next step for the vending machine. Visit our website to learn more about vending machine repair, maintenance, and upgrades.