Mobile payments increase profits from vending machines

Recent research conducted by US technology specialists shows that Apple Pay brings great benefits to vending machines. The mobile payment system significantly raises their profits.

Vending machines stand practically everywhere and offer a very wide range of products, from coffee and food to electronics and gold. However, their drawback is the issue of payment, as they usually do not accept large denominations. We do not always have enough small ones to make a purchase, so we often give up.

However, the situation has changed the appearance of mobile payment systems, such as Apple Pay, which are supported by such machines. According to a six-month study conducted by USA Technologies, Apple’s technology has contributed to a significant increase in the revenue of such sales vending machines.

The report shows that customers spend more money on it if they can make a phone payment. Total revenue growth was as much as 135 percent, which is sure to be enjoyed by owners of such devices. The researchers also found that Apple Pay is the most used payment system in vending machines and accounts for 36.5 percent of total sales.