USA Tech Cashless Vending Adoption Up 30k Units
The adoption of cashless payment technology is accelerating, with USA Technologies having increased the number of devices connected to its network by approximately 9,000 during 2Q/10 to more than 82,000, compared to approximately 52,000 in 2Q/09. In addition, USA Technologies added approximately 150 new customers to its ePort Connect Service for the quarter and is now up to approximately 1,050. Results from 41,000 traditional vending machines (beverage, food and snack) connected to the USALive Network over the latest 18-month period, showed that vending machines were averaging $1,508 in annual credit/debit card purchases, and that the top 10,000 vending machines were averaging $2,973 in cashless sales annually. Various vending operators and bottlers have indicated that total sales revenue has grown by 15 percent per machine within a year or two after installing cashless payment terminals in that machine.