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Unlock Sales Success with Payment Technologies

Discover the impact of payment technologies on your vending business. Learn why accepting various payment methods can increase sales and improve customer experience. Make the choice for success today!

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Unlock Sales Success with Payment Technologies

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  1. Success thru Payment TechnologiesChuck Reed- Marketing

  2. Remind you of anyone?

  3. YOU DON’T HAVE TO TAKE IT ANYMORE!

  4. SO, WHAT SHOULD YOU DO?

  5. Choose a path

  6. Choose a path

  7. Why should you care about investing in payment technology? • You think you are doing everything right?: • Right vending machine • Right product selection in the machine • Right price points for those products • Right service strategy so the machine is always full • Clean, filled, and working , yet…….. …You forgot the most important step

  8. Can the consumer make the purchase? • When they want it, can they buy it? • Probably not if your only accepting $1 bills and coins. • Your customers have evolved • They like to choose how they pay • For low ticket transactions, they use cash a lot. • When they choose cash, can your machine complete the sale?

  9. What consumers carry • Over 80% carry $1 bill or the equivalent in coins • Only about 50% carry $3 in bills/coin • 60% carry a $5 note • 40% carry a $10 note • 65% carry a $20 note • 72% carry at least 1 Credit Card • At prices above $1, only accepting $1 notes decreases your sales • Current US bills in circulation

  10. Bill Recycling Value Proposition Lost sales • Consumers do not carry a large % of $1 notes or coin. Therefore a significant % of vends are lost thru coin and $1 acceptance only. • Enabling $5 , $10, and $20 acceptance captures these lost sales by matching the retail experience • Operators no longer need to be concerned with change starvation • End customers do not receive ‘cascade of coins’ 15.7% 23.0% 33.6% As price increases consumers ability to make a purchase decreases Expected sales lift, by unlocking the consumers wallet, has been confirmed in field trials Note- using $1.25 price

  11. Bill Recycling value to vending patrons Vend Price Current Bill Acceptance and Change $2.00 $5 inserted Future Bill Acceptance and Change… Bills In Bills Out $2.00 $5 inserted $20 inserted Increase sales by allowing consumers more payment options.

  12. SUCCESS IS A CHOICE, NOT A CHANCE!

  13. Thank you

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