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Cashless Payment System fro Vending Machines

Apriva : 21 April, 2010  (New Product)
Apriva Vend brings PCI compliant cashless vending for operators of vending machines including all required hardware and software components
Apriva has announced the availability of Apriva Vend, a comprehensive cashless payments solution designed to address evolving vending market needs. Apriva Vend is a flexible service that facilities all the elements required for secure cashless vending, including hardware, software, wireless connectivity, payment card processing, merchant account services, back-office reporting, as well as full consultative and support services. As a result, Apriva Vend simplifies the process involved with deploying cashless solutions, while also giving operators and bottlers faster access to funds than most competitive services available in the market.

"Recent market surveys indicate that a growing number of consumers are expecting to use credit and debit cards for purchases at almost all retail locations" said Bill Clark, executive vice president and general manager, North America, of Apriva's Point of Sale division. "This accelerating trend clearly impacts the vending industry, which is continuously seeking competitive business models to boost revenue and increase margins. Apriva Vend enables operators and bottlers to quickly and cost- effectively deploy secure, reliable and profitable cashless vending solutions to capitalize on this growing segment."

Apriva Vend features a complete cashless vending solution that is fully PCI (Payment Card Industry) compliant. Apriva Vend integrates secure wireless technology and transaction tokenisation with advanced hardware from MEI, Tier 1 wireless communication providers, leading financial services providers, and powerful back-office software tools. Apriva Vend is implemented through the guidance of Apriva Cashless Coaches who provide step-by-step strategic and implementation support. Vending operators and bottlers can use Apriva Vend to identify locations that offer the highest ROI potential for both cashless and combined cash and cashless payments.

In addition, Apriva Vend streamlines back end business practices which often results in faster access to funds, thus improving cash flow.

"By listened to the vending community, Apriva has created a service that goes beyond the financial and operational shortcomings of prior efforts. As the largest and most experienced wireless gateway operator, Apriva has taken its secure communications expertise to the challenging unattended payment market," noted George Peabody, director of Mercator Advisory Group's Emerging Technologies advisory service. "Faster settlement only improves the Apriva Vend business proposition."
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