M2M wireless payment technology capabilities are expanding rapidly because of the added convenience and security for commercial segments as diverse as temporary ATM machines, vending machines, parking services, mobile payment in taxis and limousines – even pizza delivery guys.
The reasons for the proliferation are clear. It is one of the few markets where everyone wins. With M2M mobile payments, consumers get enhanced flexibility to purchase using their preferred method – credit or debit card with their associated frequent purchase discounts or perks while, owners receive immediate payment with little potential for fraud, while employees are more secure by not carrying cash. Operating expenses from cash handling and distribution are also eliminated for the merchant.
What’s more, vending solution companies can have much more control over inventory levels, temperature and other environmental factors and can optimize replenishing service delivery routes according to projected and historical usage patterns.