A SCOTTISH vending machine company is adding contactless payment systems across its entire business after securing a £52,000 loan.
Alloa-based SV24-7 Vending said the digital development loan from the Scottish Government’s Digital Growth Fund initiative will allow it to retrofit all its equipment.
The firm supplies and services over 300 vending machines to the public and private sectors including healthcare, education, government and local authorities, manufacturing and leisure, providing hot drinks, soft drinks, crisps and confectionery, along with a fresh food service that includes sandwiches, salads and a selection of healthy options.
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It has also developed strong supply agreements with high profile brands including Coca-Cola, Mars and Nestle since it formed in 2012.
Fiona Chambers, of SV24-7 Vending, said the loan allows the business to act swiftly. “Our business already provides contactless systems in all the new vending machines we supply, however the coronavirus pandemic has amplified the demand for quicker and safer payment systems to be added to every vending machine we operate,” she said.
“Throughout the pandemic many customers asked us to remove cash from the vending machines and only allow contactless payment options to prevent risk of infection to their staff, which we did.
“However, we made the decision to retro fit all of our equipment with the latest contactless and digital hardware, which utilises 4G technology, and the digital development loan allows us to do that quickly.”
It is claimed that as well as the reduced risk of infection, business benefits will come from the implementation of the new technology including improved cash flow with payments being received within 24 hours, reduced bank costs due to automated payment processes, and the ability to review detailed customer transactions resulting in more data-driven decisions.
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