What's Inside

What's Inside
Microtronic Components

Saturday, January 9, 2010

Why Cashless Vending Increases Sales Volume

So this is blogging! Watched Julie & Julia last night and now wondering what the heck - give it a try.

My company is Microtronic Electronic Systems. We are a Cashless Technology provider, mostly for the vending industry. Our system is based on a "Smart Chip" that has read/write capabilities. Almost like a Gift Card, but for in-house locations. By in-house, I mean a location where you have the same audience day in and day out for the most part. We specialize in factories, office buildings, prisons, schools, etc. You get the picture.

The headquarters is in Switzerland, but in High Point, NC for North and South America and Australia. We have been in cashless technology for 20+ years, with mass experience and a top provider throughout Europe - basically not the new kid on the block.

Our challenge is getting the mindset of Vending Operators that Cashless involves more than Credit Cards. Operators typically think "we have to have Credit Cards", but the costs are prohibitive for any return on investment. We offer a Credit Card loading station that will allow a consumer to use their Credit Card to add value to the Microtronic Media in increments set by the Operator, ex: $10, $15, $20, which brings the fees down to 2.75% or less. And this option costs much less than having a Credit Card reader at every machine. With this said, sales typically increase by 15% due to the convenience of not having to feed money into a machine or fumbling for change.

We have quite a variety with our "media", such as, Cards (can be ID Badges), Keys, Stickers, Fobs, Watches, Wristbands, to name just a few.

Okay, so much for the introduction - let's see where this takes us!!

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