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Cashless sales


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5 minutes ago, QuikVend said:

Very nice! What percentage of your machines have cashless devices on them?

Every machine that can operate a card reader has one, which is 89% of my fleet.

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8 hours ago, lacanteen said:

I can't get into specifics, but our cashless sales passed 30% of total sales several months back. That's a lot of quarters not being counted.

....same here, my cashless sales have been steadily trending upwards and is now about 55% of my total sales. Question...does the vending machine's non-resettable meters for accounting also include card & Apple/Android payments together with the cash payments?....

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Interesting to see what other's numbers are.

Currently 58% of my Vends are cashless, accounting for 62% of gross sales due to the higher dollar value of the avg. card transaction.

Readers on all machines and yes, demographics are a huge part of this as some accounts are almost all card, others nearly all cash.

 

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7 hours ago, MAW Vending said:

....same here, my cashless sales have been steadily trending upwards and is now about 55% of my total sales. Question...does the vending machine's non-resettable meters for accounting also include card & Apple/Android payments together with the cash payments?....

The meters in the machine will include cashless in most machines. A lot of the older USI machines prior to 2010 do not report cashless at all. The DEX fields are more specific. Cash sales are in the CA3 array but total sales are in the VA1 series. If you want to isolate just the cashless, that is the DA2 fields. If anyone wants the full DEX "decoder ring" drop me a line and I'll email it. 

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With about 1/3 of my machines connected I am doing 21% cashless..... some machines are still heavy on cash but some doing 70% or better cashless.  The number keeps increasing per machine even while cash is mostly steady at legacy locations (most new locations start with cashless now).  Tells me that people who used cash before are pretty much continuing to do so while cashless is bringing in new customers....

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7 hours ago, lacanteen said:

The meters in the machine will include cashless in most machines. A lot of the older USI machines prior to 2010 do not report cashless at all. The DEX fields are more specific. Cash sales are in the CA3 array but total sales are in the VA1 series. If you want to isolate just the cashless, that is the DA2 fields. If anyone wants the full DEX "decoder ring" drop me a line and I'll email it. 

Good to know! Thank you, lacanteen! :)

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2 hours ago, Southeast Treats said:

With about 1/3 of my machines connected I am doing 21% cashless..... some machines are still heavy on cash but some doing 70% or better cashless.  The number keeps increasing per machine even while cash is mostly steady at legacy locations (most new locations start with cashless now).  Tells me that people who used cash before are pretty much continuing to do so while cashless is bringing in new customers....

I have to agree here that it appears my credit transactions are increasing in accounts even where the cash sales are essentially flat. 

 

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1 hour ago, nvb said:

I have to agree here that it appears my credit transactions are increasing in accounts even where the cash sales are essentially flat. 

 

I think in the next few years we will see cash sales start dropping even in locations with a steady customer base, as older customers leave and younger customers won't mess with cash.... another 5 to 7 years and a machine without some type of cashless will be almost useless...

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16 hours ago, TKK said:

Damn thats crazy, mines probably like 6% given we have them in middle and high schools

K-12 schools are among the demographics with the lowest participation rates with cashless. However, the volatility of school schedules make the telemetry still worth the cost.

That said, Colleges, Junior colleges, and trade schools have some of the highest participation rates. 

We recently made 2 hotels (on the same property) cashless only. One of them saw a decrease, the other increased. It has only been a month, so stay tuned. 

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1 hour ago, nvb said:

I'm intrigued by the idea of cashless only. 

Think of all the savings on mechs validators and related service calls..

 

Still a lot of cash business out there right now, but for a worthwhile high risk location I would get rid of cash acceptance without a worry. 

Grade schools are an outlier right now, but between smart phone apps and the potential for offering stored value cards, that will change in time.  Does USAT offer a smart phone app of their own yet?

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12 hours ago, Southeast Treats said:

Grade schools are an outlier right now, but between smart phone apps and the potential for offering stored value cards, that will change in time.  Does USAT offer a smart phone app of their own yet?

I'm not quite sure what you are asking, but USAT takes Apple Pay & Android Wallet. The G10 modems can hail a smart phone and interact with the customers, for an extra fee to us, of course. We also have a few locations where employees can use their ID card and payroll deduction, also an additional cost to us.

As many vendor have discovered the first step is getting the hardware out there. It takes a while for it to grow, but it will in most cases.

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40 minutes ago, lacanteen said:

I'm not quite sure what you are asking, but USAT takes Apple Pay & Android Wallet. The G10 modems can hail a smart phone and interact with the customers, for an extra fee to us, of course. We also have a few locations where employees can use their ID card and payroll deduction, also an additional cost to us.

As many vendor have discovered the first step is getting the hardware out there. It takes a while for it to grow, but it will in most cases.

Looking at their website, the "More" loyalty program is interesting.  It might be something I want to look at going forward but have not heard from anyone using it already...

When you say prepaid (employee ID Card) is an additional cost, is there a cost savings involved vs the credit card fees, or does the provider just eat up the difference for themselves?

 

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2 hours ago, Southeast Treats said:

Looking at their website, the "More" loyalty program is interesting.  It might be something I want to look at going forward but have not heard from anyone using it already...

When you say prepaid (employee ID Card) is an additional cost, is there a cost savings involved vs the credit card fees, or does the provider just eat up the difference for themselves?

 

The More Loyalty program carries a fee per device as well. We tried it at a trade school and it failed miserably. It needs to be done in a large, closed setting like a factory. 

The employee card program deducts straight from payroll and is settled weekly with the location. The theory behind this is increased sales because it's easy and the employees can set a weekly limit on spending. This generally increases the participation rate from just normal vending & accepting cashless. The fees are a few dollars per device per month, and success is won or lost by the location actually settling payments in a timely manner. 

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  • 1 year later...

That's cool. I thought that was what you meant. Thanks. I wrote an iOS app that pulls DEX from a machine and it parses it out and displays it real nice and readable along with POG and alerts translated into human readable form. I can also load raw DEX files from other sources into it and show the parsed result and POG and alerts as well. I work for a really large bottling company and found the app really useful. Do you think it would be worth my time putting it into the App store? Maybe a free version with a few features and an advanced version that would have to be paid for?   Do you think there would interest?

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