Resolving Currency Issues in Vending

For a Planet Antares vending business to be successful, sales have to be made from the vending machines. In the past years, millions of Americans made purchases from vending machines virtually trouble free. All that they had to do was to insert some coins, press a button and then receive their product. It was all very simple at that time. This of course is all thanks to the United States Mint for making billions of coins a year at its state-of–the-art facilities. These coins allowed customers to comfortably make their purchases with coins. At that time the industry bragged of a trouble free vend rate of 99.9 %.

Today the dollar bill is the new quarter, which has resulted in a decrease in the vend rate. These days, purchases are made from Planet Antares vending machines as well as other vending machines, using the greenback. Vending machines have even started to accept $5 bills. Rejected banknotes can be a very frustrating experience. However, advances in bill validator technology over the recent years have improved the acceptance rate to about 98%.

Since the vending industry is a $40 billion dollar industry, the difference between 99.9% acceptance and 98% acceptance results in a $760 million a year in lost sales. Planet Antares vending machines come with bill changers, for the convenience of the customer. It is very discouraging for a customer to approach a vending machine with a valid currency in hand, only to get it rejected by the vending machine because maybe it is too old or torn. Eliminating the $1 will be the right thing to do.

A third dollar coin has been issued recently by the congress. This has helped to curb the problem of the one dollar bill. Coins don’t get torn or wrinkle. This makes them easier to use than the one dollar bill. The one dollar coin needs to be widely circulated, though this has proved to be quite a problem because the $1 bill still remains in circulation.

There is a growing number of vending operators that are opting for cashless payment options in their vending machines. This has helped them resolve currency issues. A cashless payment system in your Planet Antares vending machine will put an end to any currency problems, since there is no cash being used as a medium of payment. This form of payment is increasingly becoming popular because it has brought about efficiency to the vending industry, which of course leads to higher profits.