Cashless payments lead to greater consumer spending
August 24, 2011, Malvern, PA – Consumers spend, on average, one-third more when making a cashless purchase than a cash purchase from a vending machine, USA Technologies Inc. reports.
These findings are based on the latest sales analysis completed for the month of July, encompassing over nine million cash and cashless transactions on more than 10,000 traditional vending machines selling snacks, beverages, food and coffee, fitted with a USA Technologies ePort cashless payment system.
Highlights of the study include:
- Consumers spend more than 33 per cent more, or $0.37 more per transaction, when they used a card versus cash on a machine equipped with an ePort, increasing the average transaction from $1.13 to $1.50.
- Cashless usage was approximately 26 per cent of total sales on machines equipped with an ePort, up 73 per cent from 15 per cent usage in a similar study conducted just three years ago.
For more information, visit www.usatech.com.