Comparing Open And Closed Cashless Vending Systems

Cashless vending machine technology has become very popular among vending operators as well as customers. It allows both of these parties to enjoy hassle-free vending. There is no need for carrying change for customers and for vending operators, it is easier to account for income generated, reduce theft and embezzlement and ensure smoother operations.

There are two main types of cashless vending systems. The “open system” refers to a process wherein it is possible to record, process and reconcile the purchase transaction without proprietary settlement technology. For example: when a customer pays for a dispensed product through credit card, it is under the open system of payment. There is no need for any in house software for swiping, authorizing and processing of the transaction.

On the other hand, a closed system is where unique application software is needed for processing non cash transactions. Such a system can be used to monitor and track the internal operations of your vending business. With such a system, you can restrict account balances, transactions and purchase frequency of your Planet Antares business through a centralized account.

It is also possible to participate in open and closed systems both, even though closed environment has always been and will be preferred as the better cashless payment technology in the vending industry. It has the advantage of higher security and faster transaction processing. Also, you can offer incentives to employees in the form of purchase discounts.

Talking about cashless vending, you cannot ignore an important aspect of it called “intelligent vending”. The driving force behind the growth of cashless vending technology has been the remote data polling. Telemetry is also important to the development of cashless vending technology.

Vending operators are slowly recognizing and appreciating the benefits of telemetry and cashless vending. Hence, intelligent vending will only become more popular in the future. Another reason for its development is the changing customer preferences and the increasing competition in the vending industry. Operators will have to focus on cutting costs and find ways to increase return on investment.

“Online systems” will need sound remote sensing and monitoring system which will always require an “on” communication network. “offline systems” that use debit and credit cards will need to connect occasionally, perhaps just once a day.