USA Technologies Knowledge Base Studies
USA Technologies periodically conducts a Knowledge Base Market Study with the purpose of sharing data with customers and the industry. USA Technologies provides business deployment planning as part of its ePort Connect® suite of services. The deployment planning service was designed to guide operators to deploy cashless payments in the right locations, with the right settings and the right expectations for success using the data gleaned from the Knowledge Base as a real-world guide. In addition, ongoing reviews are performed to assist vending operators in achieving and maintaining a high level of performance. With over 155,000 connections on its ePort Connect service platform, USA Technologies is in a unique position to keep its customers successful and able to take advantage of consumer trends. See below for more detail on recent studies.
2012 Knowledge Base Study
USA Technologies' new data collected from its 2012 Knowledge Base Study highlights the business-building benefits of cashless payment adoption realized by USA Technologies’ ePort Connect vending customers. Most notably, the study revealed an impressive 84% increase in average annualized cashless sales in terminals that had adopted the cashless option for longer than one year as compared to terminals using the cashless option for less than a year.
USAT evaluated data over a two and one-half month period from approximately 57,000 ePort Connect cashless vending terminals across 39 different channels or industry sectors and customer types. From the 57,000 connections studied, USAT compared a subset of 27,000 terminals where ePort Connect service had been live for greater than one year (the “Mature Subset”) to 30,000 terminals that were in early adoption stage or had been live for less than one year with a cashless option (the “New Installations” subset).
Major findings of the study include:
Installations in place for a year or more (Mature Subset) have a higher percentage of cashless sales than New Installations.
Average annualized cashless sales per machine was $3,615 for the Mature Subset, a remarkable 84% higher than the $1,970 for New Installations.
- For the approximately 57,000 terminals studied, average annualized cashless sales per machine of $2,736 was 39% higher than the $1,970 for New Installations only.
- The percentage of cashless to total sales was 24% for New Installations compared to 33% for the Mature Subset - a nearly 10 percentage-point difference.
- For the entire 57,000 terminals studied, 27% of the sales were cashless.
The higher the vend price, the more consumers take advantage of cashless payment.
- The percentage of cashless sales increased as the price of the average transaction increased.
- For the entire 57,000 terminals studied, annualized cashless sales as a percent of total sales was highest for $2.00 plus transactions—34%—compared to 21% for under $1.00 transactions.
Click to download the 2012 USA Technologies Knowledge Base Market Study Executive Overview (PDF).