Vending machine : e-wallet payment terminal : IoT
the perfect combo
by wind, October 13, 2021
Regardless of vending machine suppliers and e-wallet payment providers persistent up-roaring, advertising, hard-selling the products and concepts, it is beyond the questions should we or should we not venture into the so-called business in the unattended robotics way of selling and buying merchandise or services.
The breakthrough innovative development of IoT has fueled the cashless concept worldwide by bringing in the powerful combination of vending machine using e-wallet concept geared with IoT.
The combo brings VICTORY to all its USERS be it the providing or the receiving end.
In the Global Intelligent Vending Machine Market 2020-2024 Report done by Technavio, the focal research evolves between e-wallet and IoT in the vending market. The research reports that the Global is seeing 2digits positive demand in cashless vending with the impact of COVID-19 with an estimated rate of 23.24% y-o-y growth in 2020.
As the vending machine concept facilitates social distancing which directly eliminate the needs to human interactions, making prevention of the spread of the virus possible.
The preference for cashless payments mainly with e-wallet peaks due to the Endemic COVID-19, and has since become a new normal in making payments for merchandise. The new norm too, advocating minimal human interference where consumers prefer unattended vending than contacting with physical human to cut down risks of being victims to the virus. When a personal safety norm is developed, this turns into a behavioral change that will stay for a continuous period of time. Read: Continuous Intention to Use E-Wallet in the Context of the COVID-19 Pandemic: Integrating the Health Belief Model (HBM) and Technology Continuous Theory (TCT)
Back home in our Malaysia market, e-wallet is gain it popularity steadily and continue to conquer new users. According to Mastercard Impact Study 2020, Malaysia top the list in South Eest Asia as e-wallet user. This is testimonial enough to approve for all businesses to adopt e-wallet as collection-payment medium.
With IoT technology, operation devices are connected to internet to power intelligent data for operational needs. With IoT technology exploiting the advantage of internet, business owner need not invest overly on costly, sophisticated and bulky hardware to churn out reports and analytics. The IoT takes care of the entire analytics with just any smart device that is connected to the internet, that EVERYONE can afford.
So, wait no longer. Start executing the strategic plan you have always dreamed about and work on it NOW! See to the fruits it reaps in no time, TALK TO US!