VMC’s latest collaboration with Vendotek sees them breaking into new markets with a payment reader that can now be installed on almost any unattended automated machine in any setting. VMC have secured exclusive UK distribution for Vendotek, enhancing a great product with excellent UK logistics, expertise and support.
According to the latest report from trade association UK Finance, more than a third of all card payments in the UK are now contactless, which is almost double the amount of the previous year, emphasising its growth in popularity. Plus, the ongoing decline in the use of cash continues, it represented 62% of payments in 2006, but by 2016 this had fallen to 40%, and the prediction for 2026 is just 21%.
At VMC we are seeing a surge in demand for flexible open payment solutions, which is hardly surprising considering the operating costs for contactless (now under 3%) are lower than the cost of managing cash (over 4%), combine that with the potential for increased sales through convenience and impulse buys, contactless looks increasingly appealing to retailers. The Vendotek payment terminal is proving popular with clients as it delivers a rapid and cost effective payment solution.
Nick Bate, MD of VMC explains “It’s time for an evolution in payments. Customers now expect an open payment option everywhere they choose to spend, and retailers need to think more broadly than just having this option at their tills! Our partnership with Vendotek brings a product to the UK market that can support unattended payments across many market sectors, and provides a future-proof and long-term option for those investing in new payment technology.”
Find out more about how VMC can help you with unattended payments here.
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