More than half of all EMV card transactions at food and beverage vending machines in the USA and Canada in 2022 were contactless (51.69%) and contactless payments were the main driver for a 350% year-on-year growth in cashless vending machine micropayments made using EMV cards, according to a new study.
“Additionally, we anticipate an increase in the share of contactless transactions. We predict the total percentage of contactless payments as a share of cashless transactions to grow 6%-7% in 2023,” the researchers say.
The study was conducted by digital payments technology provider Cantaloupe in partnership with Michigan State University and is based on data from 700,000 card readers in the USA and Canada.
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