The advancement of information technology has facilitated innovation and the growth in cashless payment. Cashless transaction is when cash is being eliminated as a medium of exchange for goods and services and replaced by cashless mediums such as credit and debit cards and mobile wallets. Adopting cashless payment has numerous advantages. As for consumers, people nowadays tend to hold less physical cash or not at all when going out shopping. As for vendors, cashless transactions allow them to improve operational efficiency and lower operating cost.
Cashless payment is particularly important in the operation of smart vending machines, as it is one of the main payment methods to perform transactions, especially in some countries such as Sweden, China, and the United Kingdom which are having a high population of the cashless society. Besides, e-wallet adoption is also rapid growth in Asia countries such as Singapore, Malaysia, Thailand and Indonesia.
Due to Covid19 pandemic, it is driving the force of people to reduce physical touch with cash and move towards cashless solutions. This helps the operator have a better overview on payment received from the machines and it is all automated, no more counting coins or bill notes from the machine.
To provide exceptional service to Silkron’s clients worldwide, we have to ensure that it is compatible with the local payment methods in their respective countries. Therefore, we continue to integrate more payment to be supported in Vendron to serve our clients better. As of 2022, we have integrated up to 29 payment brands all around the world and look forward to expanding more different brands in different