Point of sale for vending industry
According to Global Industry Analyst Inc, the global installed base of Intelligent Vending Machines (IMV) is projected to reach 2.7 million units by 2020. This is driven by benefits such as ease of use, higher energy, operating efficiency and the ability to offer a more engaging retail experience for users.
Rapid urbanization and the resulting increase in traffic at public places is further strengthening the business case for Intelligent Vending Machines (IMV). The United States represents the largest market worldwide, supported by factors such as robust demand for healthy vended foods and development of cashless and credit card systems for vending machines. Asia-Pacific is forecast to emerge as the fastest growing user of IMV with the projected CAGR of 15% till 2020.
IMVs need to work reliably 24 hours a day throughout the year. The payment methods have to accommodate all three types (MSR, EMV and NFC). Not only it is convenient for the consumer to use but it also can assist to create new businesses.
UIC uniqueness in cashless payment products is from remote monitoring, data analytics and control, organizing the information, offering benefits of business intelligence, minimizing integration cost and a satisfying user experience for the customers.