More firms seek to take vending machines digital

Some already have cashless options even as trial allowing QR code payment, remote monitoring of stock is ongoing

D'Cube Concepts founder Daniel Koh (above left) and Fomo Pay co-founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schem
D'Cube Concepts founder Daniel Koh (left) and Fomo Pay founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schemes into a single code. ST PHOTO: MARCELLIN LOPEZ
D'Cube Concepts founder Daniel Koh (above left) and Fomo Pay co-founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schem
D'Cube Concepts founder Daniel Koh and Fomo Pay co-founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schemes into a single code. ST PHOTO: MARCELLIN LOPEZ
D'Cube Concepts founder Daniel Koh (above left) and Fomo Pay co-founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schem
D'Cube Concepts founder Daniel Koh and Fomo Pay co-founder Louis Liu with one of the vending machines on trial that lets consumers use their cellphones to make payment via national QR code SGQR, which consolidates over 20 e-payment schemes into a single code. ST PHOTO: MARCELLIN LOPEZ
New: Gift this subscriber-only story to your friends and family

An ongoing pilot initiative to make vending machines smarter will allow customers to make payments via national QR code SGQR and operators to monitor their inventory levels remotely.

This is the latest move to digitalise the traditionally cash-reliant vending machine sector, where local sales are expected to exceed US$72 million (S$98 million) next year, up from US$67.2 million in 2017, according to data from research firm Euromonitor International.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on November 02, 2019, with the headline More firms seek to take vending machines digital. Subscribe