A device integrated into automated retail machines allows customers to purchase items using debit cards, credit cards, or prepaid smart cards, offering a cashless payment alternative. This technology typically involves inserting or tapping a card onto a designated reader, similar to point-of-sale systems used in traditional retail environments. An example includes near-field communication (NFC) enabled terminals for contactless payments.
Cashless transaction technology in vending increases sales by catering to customer preferences for electronic payments and eliminates the need for exact change. This enhances convenience for consumers and reduces the operational burden of cash handling for vendors. Historically, vending relied solely on coins and bills. The evolution to digital payment acceptance signifies a major shift in the industry, improving security and streamlining transactions. This evolution mirrors broader trends towards a cashless society.