Cash – the German’s dearest friend
While it is perfectly normal in other countries to pay small amounts with your mobile phone or credit card, Germans still tend to prefer paying with cash. What does this mean for the vending sector? In his current column for the Vending Management magazine Christoph Budelmann presents his idea of upgrading vending machines with an authentication device that allows cooperating retailers to deposit bills and to receive coins in return. The advantage: Retailers don’t have to obtain their cash through a bank or a CiT company which can be rather pricey. Especially in highly frequented locations such as train stations cooperation without long distances seems reasonable. One needs cash, the other one has it. Since human beings are creatures of habit, cash will not vanish from our daily life any time soon.
The entire article was published in Vending Management 03/2016