Here's the Truth about Cashless Vending

Did you know? American adults under 30 dislike using cash so much that 51% of them use credit or debit cards for purchases – even for transactions under $5 (the price point where vending lives). So, cashless and vending go together like peanut butter and jelly. Operators who embrace cashless have average ticket transactions of $1.60 – that is nearly 40 cents higher than their cash counterparts. In a study of machines equipped with Parlevel Pay cashless readers in San Antonio, Texas, average machine sales per service increased 42% when a vending card reader was installed. 32% of the increase came from cashless payments while 10% of the increase was attributed to growing cash sales. The net sales increases from cashless amount to an average machine collection of $128 every time a machine is serviced – nearly $40 more than machines without cashless capabilities. Locations that are frequented by younger consumers and transit areas are the best bets for rapid cashless success. Schools, offices, hospitals, hotels, and airports are some of the areas where cashless performs the best. For more information on Parlevel Pay, please visit parlevelsystems.com/parlevel-pay