Vagabond Announces Dual Cashless, Simultaneous vīv Touchless and Traditional Swipe with Any VMS
Washington, DC, July 28th 2020 – Vagabond, the leader in modernizing the vending industry, announces successful deployments of dual-cashless, allowing operators to simultaneously offer vīv mobile cashless and traditional swipe card readers. This innovation is available on all machines with control boards that offer dual-cashless capabilities. Operators can now add vīv #TrulyTouchless capabilities onto any compatible vending machine alongside their traditional swipe reader and deliver data to any VMS — including Vagabond, VendSys, Parlevel, Cantaloupe or Streamware — limiting the impact to their business operations. This enables operators to allow consumers to choose how they pay for products and, as more users utilize vīv, begin engaging directly with consumers through the vīv consumer marketing engine.
Operators can now satisfy demand from accounts for touchless payment options without having to remove the credit card reader. With vīv, operators can run their business on live data, price to the penny, change prices remotely, dynamically schedule price reductions to drive sales during slow times, sponsor high-margin, high-rebate products to the top of the menu regardless of where they are placed physically in the machine, and directly invite consumers to return to use the machine or kiosk-less market.
“Vagabond has been slammed with requests from operators about touchless machine capabilities that also support a traditional swipe credit card payment option”, said Scott Meskin, Vagabond’s President. “This way operators can offer #TrulyTouchless vending to their accounts without the fear of missing out on traditional swipe, cash and coin sales. Vagabond’s vīv dual cashless offering enables operators to do just that.”
In addition to offering a clean, safe and touchless purchasing experience, Vagabond’s dual-cashless offering facilitates the entire spectrum of consumer buying preferences. The industry has grown accustomed to the fact that adding a single cashless option to a machine that previously only accepted coins and bills increases revenues by up to 30%. Adding both vīv and traditional swipe options to coins and bills can increase revenues by an additional 10% or more because the populations of people who prefer either method are slightly different. Those that rely on traditional swipe credit card options tend to be older. Younger consumers prefer to use mobile apps as they do to order lunch, taxis, or movie tickets.
In either case, Millennials and Generation Z, who make up well more than half the workforce, strongly prefer cashless payment options over cash and also prefer mobile apps over swipe because they are faster and more secure. In this day and age, expanding on cashless options is key to grabbing revenues from the larger, younger demographic.