Vending machines that advertise Apple Pay can provide a big boost in revenues, according to a new study.
During its six-month long study, USA Technologies Inc discovered that vending machine customers are 135% more likely to pull out their iPhones to pay if digital advertising for the payment method is presented at the point of sale.
[contextly_auto_sidebar] “Based on our study, we believe that when businesses and operators present consumers with the option to pay for items with Apple Pay, the number of mobile payments made and the amount spent, increases,” said Maeve McKenna Duska, VP of marketing at USA Technologies.
Apple Pay = more revenue
The study shows that when customers are asked to pay with their phones, they’re also more likely to make a purchase they might not have made otherwise.
Apple Pay launched in 2014 as a feature on the iPhone 6 and iPhone 6 Plus. The technology aims to replace wallets with digital cards on the iPhone that can be used wirelessly. Now that the technology is maturing, USA Technology, found more people are ready to use it, they just need some education on how.
Here are all the benefits vendors can get by advertising Apple Pay:
- 36.5% increase in overall sales
- 44.6% increase in total transactions
- 6% increase in total contactless average ticket; 18% at week 20*
- 55.5% increase in revenue through contactless purchases, including Apple Pay; 121% at week 20*
135.2% increase in overall mobile payment usage
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
7 responses to “Apple Pay drives vending machine spending through the roof”
Apple Pay is great. I’m using it more and more. It’s actually a bit dangerous, because it’s so easy to use that I tend to spend money without thinking about it. I need to teach myself some better habits. :)
Minor nitpick: The photo with this article doesn’t show an iPhone, and therefore it isn’t using Apple Pay. I think the phone might be a Samsung Galaxy S6, but I’m not sure. Whatever the phone is, it sure doesn’t look like an iPhone. The home button is the wrong shape (oblong instead of circular), and the top of the phone appears to have a Samsung logo.
Hate to be that guy. But that photo isn’t Apple Pay
So Apple is publicly advertising for Samsung Pay now ?
No but Buster is….
Article Photo FAIL
what kind of idiot thought that using a picture of samsung pay was a good idea for an apple-pay article on a MAC site?!?!?!? do you people not use copy editors anymore?
Not anymore they got sack but the writers are way too lazy to proofread or get the proper pixs for their articles.