The most significant shift in the payments industry to evolve from the COVID-19 pandemic has been the sudden fall in the usage of cash. And while the industry as a whole has been aware of the potential for a cashless future for a while, the shift towards contactless and alternative payment methods (APMs), as consumers try to avoid less hygienic payment methods, has got to the point where 50% of customers think that cash will disappear completely at some point in the future.
Payment systems have come on leaps and bounds in recent years, developing quickly from providing customers with cashless transactions to enabling cashier-less checkouts – and the same goes for the unattended market. New self-service checkout options and interactive machines have changed the game entirely, offering the all-important seamless payments and next level customer experience. And that’s just the beginning of the vending revolution; with Artificial Intelligence (AI) and Internet of Things (IoT) leading the way, unattended retail is anticipated to be a £10b industry over the next five years.