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Majority Of Vendors Plan To Add Cashless This Year, Survey Suggests

Posted On: 2/26/2011

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Apriva, National Automatic Merchandising Association, NAMA, cashless vending, vending business, vending, vending machine, vending machine business, vending payment technology, automated retailing, Stacey Finley Tappin, cashless vending study

SCOTTSDALE, AZ -- Apriva reports that a survey it conducted among 200 operator member companies of the National Automatic Merchandising Association found some 57% of them planning to add or expand cashless payment capability in 2011. Only 8% of respondents said that they do not anticipate adopting this technology.

Apriva vice-president of sales Stacey Finley Tappin said the vending industry appears to be approaching critical mass in terms of adopting cashless technology.

"The findings confirm what we're seeing in the field -- that a growing number of operators understand the profound benefits offered through cashless technology, and are prepared to make the strategic decision of bringing these solutions into their businesses," she said.

Apriva and NAMA conducted the study as part of their ongoing efforts to educate operators on the operational and economic benefits of cashless vending. Apriva is a participant in the NAMA-sponsored cashless vending initiative, which offers an end-to-end cashless solution for operators.

Information on the NAMA Cashless Vending Program may be found here. Visit Apriva at aprivavend.com.

Among vendors who indicated their intention of adding cashless in 2011, about 30% said that they would place cashless machines in university or school settings, while 12% cited hospitals and other institutions as their preferred locations.

"As cashless technology becomes more accepted in the industry, most operators will face a learning curve in identifying the right locations to deploy the technology," explained Dr. Michael Kasavana, NAMA-endowed Professor in Hospitality Business at Michigan State University (East Lansing).

"From what we can surmise from Apriva's survey, a good portion of operators sees that institutions -- such as schools and hospitals -- offer the right demographics to warrant electronic payments. As the technology continues to become more pervasive, I expect that we'll see cashless make inroads in a number of other facilities, like retail sites and offices."