MasterCard Worldwide and USA Technologies (NASDAQ: USAT) today announced the installation of a record number of cashless payment terminals into Coca-Cola Enterprises vending machines in several markets nationwide.
With this innovative move, consumers in several U.S. markets will no longer have to dig for coins or have exact change to purchase their favorite Coca-Cola products from a vending machine.
Coca-Cola Enterprises Inc., the world's largest non-alcoholic beverage bottler, will install the new terminals in selected vending machines in the Atlanta, Boston, Chicago, Denver, Las Vegas, Miami, New York and Seattle markets. The deployment of up to 7,500 G-6 e-Port terminals represents the broadest single deployment of the cashless vending terminals to date, and more than doubles the number of e-Port terminals installed in Coca-Cola system vending machines in the United States.
"Consumers are always seeking new and innovative ways to enjoy Coca-Cola products," said Tom Barlow, Vice President, North American On-Premise Sales and Service, Coca-Cola Enterprises Inc. "By equipping our vending machines with cashless vending technology, we're allowing consumers to enjoy the convenience and speed of paying with their credit or debit card while we improve our company's efficiency and effectiveness."
In addition to providing greater speed and convenience for consumers, e-Port and PayPass help vending machine operators improve efficiency by allowing companies to monitor and manage their vending machines online.
"This project is also aligned with our increased focus on corporate responsibility and sustainability," added Barlow. "The information that these devices provide will enable us to decrease our out of stocks, improve our service and help reduce our fuel consumption."
To make a cashless transaction at MasterCard PayPass e-Port activated vending machines, consumers tap their PayPass-enabled payment card or device on the e-Port terminal. The terminal flashes a light, displays a message and produces a tone to signal the completion of the transaction in seconds. No signature is required. Traditional magnetic stripe cards are also accepted.
"Consumers continue to demonstrate that they want the speed and convenience of using a payment card when making purchases from vending machines, and MasterCard PayPass and e-Port deliver," said T.J. Sharkey, Senior Vice President, U.S. Merchant Sales, MasterCard Worldwide. "MasterCard PayPass contactless payments are ideal for traditionally cash-dominant environments like the vending market, where a quick and simple payment process drives a positive customer experience."
"We are excited to again be working with MasterCard and with yet another significant company in the $46 billion beverage and bottling industry in deploying wireless activated cashless technology in vending machines," said George R. Jensen, Chairman and CEO, USA Technologies Inc.
The United States is rapidly becoming a cashless market, with most quick service restaurants and convenience stores now accepting payment cards. The latest deployment confirms an accelerating trend in the vending industry to convert to cashless transactions.
"We are beginning to see a steady increase in average purchases across the board in the 6,000 e-Port MasterCard PayPass accepting machines that we deployed over the past nine months," added Sharkey. "When consumers are not limited to the coins and small bills they have on hand, they are able to purchase what they want, and as a result we are seeing higher purchase volumes."