Payments News


Why Credit Card Acceptance Actually Spurs Cash Use at Vending Machines

“The most recent study found that contrary to some expectations, cashless acceptance not only does not cannibalize cash sales, but actually boosts them. In addition, cashless technology drove top line sales growth more for low-performing machines (generating less than $2,000 a year in sales) on a percentage basis than for higher-performing machines. The M.S.U. study measured performance in 250,000 machines over an 18-month period following cashless deployment and found cashless sales increased by 131% in low-performing machines compared to 78% of all machines studied. Cash sales improved by an average of 97% in the low-performing machines during that period, compared to 17% for all the machines.”