April 24, 2007
More Contactless Vending Machines Coming
Six large vending machine companies in the United States plan to outfit their vending machines with contactless payment technology. The technology will accept MasterCard PayPass cards and key fobs.
An announcement earlier this month from MasterCard and USA Technologies stated that 6,000+ vending machines in the US would allow for contactless payments using NFC-enabled cell phones. Late last year, USA Technologies had announced plans to install contactless card readers on 10,000 vending machines.
Contactless payment technology vendors are hoping to capture the sub-$25.00 per transaction market of vending machines and convenience stores. While there are the two types of contactless payment (card/fob and cell phone), the cell phone method is at a disadvantage since there are currently few NFC-enabled phones in the United States and Canada. Contactless keyfobs and credit cards, on the other hand, have the distinct advantage of being easily distributed.
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