VendScreen has announced that it will be beginning the initial release of its mobile payment technology at the upcoming NAMA One Show in Las Vegas next month.
The concept behind the VendScreen device is that it can be installed into any existing vending machine in order to be able to receive payments for the products it contains through the use of a credit card, loyalty card, or online account and, potentially in the future, discount QR codes from advertisers, as well.
The smart device is Android-based and wirelessly connects to the internet in order to allow for the leveraging of the setup of a number of different applications in the hopes that they will provide greater value to the vending machine users, advertisers, and operators.
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Though the initial device will allow consumers to pay for their purchases through the swipe of a credit card, VendScreen sees tremendous potential for changing the way the vending industry works, with possibilities of expansion into many other industries as well, with the future implementation of wireless and mobile payments.
This start-up company is already backed by $12 million from its investors, and its device uses a “Touch & Swipe” intuitive user interface which has become mainstream among smartphone and tablet users, as well as users of self-checkout counters in some stores.
The VendScreen wireless device offers a number of different services, such as information – for example, nutrition data – advertising displays, and the collection of real-time point-of-sale information in order to provide operators and advertisers with vital analytics tracking. Users can therefore view the nutritional information before they make their purchase so that operators can seamlessly conform with new calorie disclosure laws using an automatic system.