Location, Location, Location!

Whether deciding to add a banknote recycler or to go cashless or to integrate some combination of payment accepting devices, we are typically asked the same question: What criteria do you use to determine what payment device to invest in and when?

We usually respond with with three or four criteria such as vend price, but the one thing that we always include is location. The specific location of your vending machine is a critical element in the equation because it affects what is being sold, the volume, the risk for vandalism, and what types of payment are most prevalent. Here are just a few examples:

1. Hospitals — in many cases, hospital employees are not permitted to carry cash so a contactless or credit card reader would be essential in machines located in and around the hospital. Where an outside connection cannot be guaranteed, often times in areas adjacent to X-ray rooms, bill recycling is an alternative payment technology an operator should consider.
2. Airports – In locations filled with predominantly transient customers such as airports may require a bill recycler and card reader/cash acceptor combo to enable all forms of payment.
3. Amusement Parks – in places where the vend price is typically above average, a credit card reader may be important for convenience and sales lift. Operators report excellent sales results using bill recycling as well. Combining cashless and bill recycling would ensure vend patrons can always pay for these higher margin drinks.
4. Hotels – Oftentimes, hotels are at high risk of theft so carrying a large float in vending machines on empty floors poses too high of a temptation for vandalism. In this case, going completely cashless may make the most sense.