You’ve used change for years. You had to use change in college when you wanted to get your laundry done. It was always a hassle to carry quarters and carry your clothes at the same time. You’ve had to use change to get sports drinks and candy from vending machines. Ever have a machine eat your last quarter? We all know the feeling. Paying for parking with change is a burden too. Why should you have to go to the supermarket and ask for change in quarters or get an annoying package of coins in the year 2015? Well guess what—technology firms feel the same way that you do about change, and it seems like companies are working to make those pesky coins a thing of the past.
USA Technologies, the company that creates most of the self-serve machines that take physical currency, has announced that it will be bringing “tap-to-pay” vending machines and laundry machines into existence, allowing consumers to make payments with newer technologies such as Apple Pay. Other payment platforms will ostensibly be accepted as well, as some merchants are already accepting Bitcoin as a form of payment. Companies that hold a high risk merchant account with payment processors such as eMerchantBroker.com are eager to accept another form of payment through physical machines, opening up an entire new market of potential customers.
Everything that has traditionally been paid with coins will be moving towards mobile payments such as Apple Pay in the future. People envision a world where all you need is your smartphone when you leave your home, using it to make all of your payments in addition to being your personal supercomputer. Every year, people are using less cash, and the trends go that if the option were available, they’d use less change too. Imagine being able to pay your tolls on the highway with your mobile phone? That’s a world that is coming sooner than you think, and we’re all going to benefit from it.