With the rise of near-field communication and the technology improving in quality, security, and affordability every day, the rise of cashless vending machines in educational institutions is ever growing. Those educational institutions must expect and experience notable benefits, otherwise they wouldn't adopt the technology, right?

That's exactly right! Cashless vending machines offer a host of benefits, here are just a few that educational establishments can expect.

INCREASED SECURITY

Good old cash is a relatively simple way of paying for things, but for as long as people have used cash there have been those who have mercilessly targeted other people's money. If you're carrying cash you're always going to be a target because low amounts of money can be spent in relative anonymity, which encourages petty criminals.

This is not true with cards however, which feature a host of encryption technologies to ensure the security of both the holder's personal data and payment details. This means even if the card falls into the wrong hands, if the crime is reported the card can be deactivated. This isn't true with cash, if someone else has your money it's impossible to stop them spending it remotely, with a smart card however you can.

MAXIMUM CONVENIENCE

It's true that people are always going to be drawn to the path of least resistance. This is relevant in any aspect of life and is certainly applicable to their purchasing decisions. If you can pay for goods by just holding your card within close proximity to the reader you're far more likely to make regular purchases than if you have to dig out the right change every time.

Introducing cashless purchases is a great way to encourage regular use of vending machines, which gives educational establishments a great opportunity to use the technology in conjunction with other programs; a healthy eating initiative for example. Getting students to embrace water, fruit, and healthy snacks is going to be much easier if they're conveniently accessible.

DATA AND INVENTORY MANAGEMENT

Contactless cards also offer highly important data to educational institutions about the types of purchases that people are making. This is useful for trailing new products, as you can see clearly how many times those products are purchased so it gives you an accurate picture of whether or not it is successful. This will allow you to make more informed decisions about which products your vending machines stock.

Keeping those vending machines properly stocked is also easier. The smart card provides purchase data every time it's used, so it will tell you what has been bought and in what quantity. Measure that against the stock you know the vending machine contains, and you always know when it needs replenishing.

If you need any more information on how you can implement smart cards in your establishment, then don’t hesitate to contact one of our experts today!