Smart Vending: A Case for Secure Cellular IoT Connectivity
By Fabrizio Mulas
June 29, 2023
By Fabrizio Mulas
June 29, 2023
Smart vending machines are gaining momentum, with the market size estimated to reach $15 billion by 2028. As discussed in our previous blog, smart vending leverages AI, analytics, and IoT sensors and devices to:
Nevertheless, smart vending success hinges on a solid and reliable connection.
Without connectivity, many features and solutions that make these machines superior to their traditional counterparts will stop working.
A smart vending machine contains many technology pieces (e.g., touchscreens and cameras) that require access to various connectivity types. For example, point-of-sale (POS) terminals and IoT video security cameras combine cellular (to send data back to the cloud) and local connectivity (e.g., Wi-Fi and Bluetooth® wireless technology).
In remote areas without local infrastructure access, smart vending machines will use cellular connectivity over Wi-Fi. However, most credit card operators use cellular technology for their POS terminals. A poor connection can derail a customer’s purchase and force them to use cash or abandon the machine. This issue troubled one company concerning its digital payment solutions.
A leading fintech company provides an IoT-enabled payment solution and management platform that boosts revenue and lowers costs for its customers. Its services assist unattended automated markets, such as laundromats, ticketing and vending.
Although leveraging digital POS systems decreases costs related to money collection, it isn’t without challenges. A compromised connection would be disastrous for the fintech company’s digital payment services, particularly for its smart vending customers.
In addition, the business also wanted to ensure its customers could reliably use its management platform. In light of 2G and 3G sunsets, it needed to transition to 4G and Cat M technology to keep its new products operational. Furthermore, with consumers expecting faster and more convenient smart vending experiences, the company knew it required the assistance of a trusted IoT partner.
The company integrated one of our cellular IoT modules into its payment solutions. This module ensures its customers receive real-time alerts and daily reports to:
Moreover, our IoT modules and connectivity services enabled our customer to migrate to 4G networks. Moving to 4G enhanced competitiveness and extended product life cycles. Rather than establishing a Wi-Fi connection, it could leverage far more secure and dependable cellular networks.
The company’s management software benefits from our cellular IoT modules, global IoT SIM cards and data plans. These solutions provide its customers with a location-by-location network status synopsis for greater transparency.
With us as its proven cellular IoT provider, our fintech customer provides a comprehensive and always-running smart vending payment solution.
We use IoT-enabled automation and connectivity to make always-on smart vending machines and other independent retail solutions a reality. Our IoT modules and connectivity services can give you control down to the individual SIM.
Speak to an IoT retail expert to learn about reliable, secure IoT connectivity for your POS systems or smart vending machines.