When you think of vending machines, you probably think of the no-frills, rectangle-shaped machines dishing out your favorite soda or chips. There is nothing fancy to them – put in your loose change or dollar bill, push the button, and out comes your ice-cold soda or delectable candy bar.

But, they can be and are so much more than meets the eye. With a slew of new technologies out there, vending machines are primed to move from their outdated ancestors to modern behemoths.

Let’s take a look at five technologies breaking ground in the vending machine world.

1. Cashless and Contactless Payment

This one might be the most obvious and the one you’ve most likely seen in the market. The one you’re most likely to see is an option for credit or debit cards. The tech is simple and operates much like a card reader at a grocery store. Pick your product, then slide or insert your card for payment.

But, as more folks carry payment-enabled smartphones, this is increasingly becoming an option. The most likely one is Apple Pay. Instead of inserting a card, hover your smartphone or Apple Watch over the payment reader for truly contactless payment.

2. Interactive Screens

Interactive screens appear less regularly, but they are out there. They are also popping up in bathrooms and gas stations. It’s an excellent way for a vending machine owner to go beyond the simple task of dispensing goods – and beyond a sale.

Vending machines with screens offer the opportunity for owners to access the Internet of Things. Owners can make revenue weekly or monthly from advertising streams. Operators can also use their advertisements or promotions.

Another feature of a screen allows the customer to get a refund. They can enter their information, which will enable them to receive their money back. It’s an excellent way for an additional source of customer service.

3. Connected Devices, Data, and Servicing

With improved options for screens and cashless options comes the increased capacity for IoT functionality. Owners or operators can get real-time data about sales, stocking and repairs. Repairs will be quick, so the machine stays functional and ready to push out product. Operators can also access the device remotely, allowing a quick fix of any issue.

Operational costs will go down, as the machine will stay online and repair costs stay minimal. With quick access to sales data, you can also get rid of the products that don’t sell and upsell the ones that do.

4. Side Advertisements via Screens

As vending machines become more sophisticated than before, the option for side advertisements offers another chance for revenue. On some devices, the opportunity to place simple ads will suffice. But, for modern machines, operators can change the ads on digital screens. This is an often passed-over option but will provide owners a new source of revenue.

5. The V21i – The IoT Vendor

This isn’t your parents’ vending machine. This interactive, intuitive and inclusive vending machine is equipped to bring vending into the 21st Century. It houses a 21.5” touch screen to make life easier for consumers.

Here are some of the features:

● There isn’t the need for change, cash, or credit. The intuitive features allow users to utilize their digital wallets.

● Users can use the intuitive multi-cart system to buy multiple items in one transaction.

● The screen allows for real-time promotion of items. Users can find info about the weather, local sports and events.

Perhaps one of the standout options is for those seeking adult beverages at a ballpark or venue. With the V21i, there’s no more waiting in line. Simply use the age-verification mobile app to buy alcoholic beverages.

For operators, the screen allows your machine to become revenue-producing via advertisements. Real-time promotions via QR codes can help push your product. Built-in inventory management means no lost sales or disappointed customers.

Contact us today to learn more about the V21i and what it can do for your bottom line.