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Success thru Payment Technologies Chuck Reed- Marketing

Success thru Payment Technologies Chuck Reed- Marketing. Remind you of anyone?. YOU DON’T HAVE TO TAKE IT ANYMORE!. SO, WHAT SHOULD YOU DO?. Choose a path . Choose a path . Why should you care about investing in payment technology?. You think you are doing everything right?:

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Success thru Payment Technologies Chuck Reed- Marketing

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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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