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NAMA Kicks Off Vending-Specific Cashless Payment Program

Posted On: 7/23/2010

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National Automatic Merchandising Association, NAMA, Bank of America Merchant Services, BAMS, NAMA Cashless Solutions, Apriva, cashless vending, vending machine business, vending machine, automatic merchandising

CHICAGO -- The National Automatic Merchandising Association said its members can now sign up for its new cashless vending program, offered in partnership with Bank of America Merchant Services. The program was unveiled at the recent NAMA OneShow in Chicago.

Operators participating in NAMA Cashless Solutions, which designates BAMS as its preferred payment processor, can take advantage of exclusive rates NAMA has negotiated with BAMS specific to vending, coffee service and foodservice.

The program offers favorable rates for both wireless communications and cashless transaction processing. It can be configured as an extension of an installed remote monitoring system or as a standalone application.

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

Apriva is NAMA's preferred wireless gateway provider for the program. Its technology provides secure wireless processing between the vending machines and processing platforms. The program is also open to other PCI-compliant providers.

Read a VT article by Dr. Michael Kasavana detailing the program here.