National Automatic Merchandising Association Offers Online Cashless Calculator

New links at the National Automatic Merchandising Association (NAMA) cashless solutions page can shed light on how the program can benefit members and includes a new online calculator where visitors can enter their own data to see how much their revenues could increase, announced LyNae Schleyer, NAMA senior director of education and OneShow. Visitors to the site can also view video testimonials and interviews from current member users.

In discussing the new cashless material Schleyer said in a prepared statement, “Operators are all at different stages of cashless implementation and we wanted to make it as easy as possible for our members to learn about this successful program. One of the greatest resources to help answer questions is to call the toll free number and speak with a Bank of America representative. There is no obligation and they can offer a lot of advice and options.

The Cashless Solution program is a partnership between NAMA and Bank of America Merchant Services (BAMS). It offers favorable rates for both wireless communications and processing of cashless transactions, and can be configured as an extension of an installed remote monitoring system or as a stand-alone application. BAMS leveraged its broad knowledge of card brand rules and regulations to customize the program specifically for NAMA members across various industry segments and was able to negotiate exclusive rates.

The NAMA Cashless Solution program is a networked end-to-end solution that is hardware neutral, works with qualified communication suppliers and card associations for payment reconciliation and account management. NAMA is also working to provide members with a broad range of preferential financial services.

From coast-to-coast members are raving about the program. For example, Avanti’s Jim Brinton, NCE couldn’t be happier with the program, saying “Our operator fees will likely go even lower after we analyze one more month of transactions,” he said. “This will save our operator group about $3,500 per month and that will continue to increase each month.”

When asked about his experience with the program, NAMA Chairman of the Board Craig Hesch, NCE, said, “The potential savings are so significant they should take care of my NAMA dues, State Council dues, all costs associated for sending my people to the NAMA OneShow( in Chicago), Coffee Summit( Las Vegas) and would still leave money left over.”

Concluded Schleyer, “If you are now accepting credit cards for your vending, foodservice or coffee service business, or plan to do so in the future, visit www.vending.org to see how the NAMA Cashless Solution program might lower your costs and increase your sales and profits.”

To compare your current program, understand the details and calculate your savings, visit www.vending.org, click on technology, cashless solutions and use the links on the left. To inquire directly, please contact BAMS at 888-317-0971.

 

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