Vending Machines Could Lead Mobile Payment Adoption
USA Technologies’ (USAT) Mike Lawlor thinks mobile payments could catch on through vending machines, given vending’s ubiquity. USAT has unveiled an expanded version of its ePort Connect service that targets small-ticket, self-serve retailing industries. The service’s cashless payment, M2M telemetry, and consumer engagement features enable self-service terminals to accept traditional magnetic stripe as well as contactless payment, accommodate all elements of transaction processing, and permit customers to remotely track their unattended retail locations online. USAT’s Veronica Rosa says her company envisions itself as a leading contactless payments provider. “We partnered with MasterCard and Visa when they rolled out payWave, now we are in a partnership with Isis,” she notes. “That makes us very valuable for mobile wallets.” Rosa also says the current size of the cashless market is just 5 percent of the potential for machines that can be linked to cashless payments. “Mobile technology helps the awareness factor because people are getting used to using their credit card in the mobile wallet,” she points out. “So whether it’s mobile or straight use of debit or credit cards, it’s something all companies are going to have to adapt to and have an offering for.”
From “Will Mobile Payment Adoption Come From a Vending Machine?”
Mobile Payments Today (05/02/13) Gagliordi, Natalie