So this seems cool. I had a credit card token machine back in 2006 and was charged a .30 cent fee on every transaction plus 3%. People were using their credit cards it gets $1 in tokens, so I was charged .33 cents, costing me a lot of money! So for me, instead of 2-tier, I made it so people had to spend at least $5 to use their credit card. So this new system you just get changed a flat 6% so you can letterly sell something for a quarter? I would have let the people spend $1 on their credit cards if it was that way back then!
@@HappyVending haha it probably made me more money hahah! So I am thinking about opening a small kid casino arcade so this nayax only chargers 6% flat per transaction?
Go into technician settings on the vpos and there is an option to set the machine as full and to reset the cash box. You will need to know your password.
I think those IT students had a good system of centralized internal credit tied to a RFID card. I am working on a system where people can feed cash into a kiosk and load credit into an account linked to a RFID card they can swipe at the machine. No credit cards or banks needed.
@@HappyVending oh! I didn’t ever think to look around for a existing system. I’ll have to look into that. I was just going to open source whatever I came up with. Maybe there is room for both. 😊
Can you do it the other way around so it makes a discount if you pay with card? Where I am from there's no culture of paying with card on vending machines so I wanted to make an incentive so they are more inclined to do so
That's the first time I've heard someone wanting to do that. I've never tried it, but you probably can. Instead of putting 110 for a 10 cent surcharge...I would try putting in 90. I would think it would make the price 10 cents cheaper.
This machine is setup for 1 swipe, 1 item purchase. Is there a way to get the nayax reader to ask for another selection if the shopper isn't done shopping? For instance, if I want to buy 4 bags of chips for the family, may I configure the nayax unit for 1 swipe instead of 4 swipes? I ask because I have the same reader. I'm using a Crane/GPL model 159.
Usually that is a multi-vend option on your machine not related to card reader, look for Multi-vend in your machine settings, note though that this changes the process for cash transactions too, if you have multivend on and someone puts in a $5 and select an $2 item, change will not be given until the coin return button is pressed, so put a not on the machine for that to keep complaints down!
I disagree it cost the business more to do business so why should someone who has cash pay for someone else credit card transactions. By raising the price across all the products that’s what you would be doing. Especially if the only reason the prices went up was because of fees on credit card transactions.
When I set prices for my machines, I take into account all business expenses, from inflation, rising gas prices, repairs, and credit card fees. I consider that all the expense of running a business. The costumer won't know why the price went up 5 cents, so they won't think they are being penalized for paying by cash. But, when the user sees an extra 10 cents charge for credit card purchases, they will be pissed and it will discourage sales. This is especially true if your machines are in an office or warehouse with repeat customers. If your machines are in a high traffic area like an amusement park or visitor center, then it really won't matter if you charge extra for credit because you don't really rely on repeat customers.
Great helpful information. Thank you! Great video!!!
Great info Bill. I agree with you about 2 tier pricing. Another great video !!!!!!
Thanks for teaching me this!
So this seems cool. I had a credit card token machine back in 2006 and was charged a .30 cent fee on every transaction plus 3%. People were using their credit cards it gets $1 in tokens, so I was charged .33 cents, costing me a lot of money! So for me, instead of 2-tier, I made it so people had to spend at least $5 to use their credit card. So this new system you just get changed a flat 6% so you can letterly sell something for a quarter? I would have let the people spend $1 on their credit cards if it was that way back then!
I think your $5 minimum for cc sales was a better idea than 2 tier pricing personally.
@@HappyVending haha it probably made me more money hahah! So I am thinking about opening a small kid casino arcade so this nayax only chargers 6% flat per transaction?
@@ArcadeMonitor You can set it to charge a percentage...like 6%....or you can set it to charge a sent amount on every transaction....like 10 cents.
Thanks for the video Continue to make them you content it’s the best :)
Thank....tell your friends!
Thanks for the info, but i do agree with you. i don't care for the to 2 - Tier pricing.
👍🏾 helpful! I will not do this either and will apply it to the item cost.
Great video! 👍🏾
How do you reset the cash box amount after I empty it?
Go into technician settings on the vpos and there is an option to set the machine as full and to reset the cash box. You will need to know your password.
I think those IT students had a good system of centralized internal credit tied to a RFID card.
I am working on a system where people can feed cash into a kiosk and load credit into an account linked to a RFID card they can swipe at the machine. No credit cards or banks needed.
They're are systems like that...like Payrange.
@@HappyVending oh! I didn’t ever think to look around for a existing system. I’ll have to look into that. I was just going to open source whatever I came up with. Maybe there is room for both. 😊
@@pikadroo how is it going? Did you started your project?
Can you do it the other way around so it makes a discount if you pay with card? Where I am from there's no culture of paying with card on vending machines so I wanted to make an incentive so they are more inclined to do so
That's the first time I've heard someone wanting to do that. I've never tried it, but you probably can. Instead of putting 110 for a 10 cent surcharge...I would try putting in 90. I would think it would make the price 10 cents cheaper.
@@HappyVending that would be awesome!!! Thnx if you could check if you are free some other time it would be terrific, thnx for the response!!
This machine is setup for 1 swipe, 1 item purchase. Is there a way to get the nayax reader to ask for another selection if the shopper isn't done shopping? For instance, if I want to buy 4 bags of chips for the family, may I configure the nayax unit for 1 swipe instead of 4 swipes? I ask because I have the same reader. I'm using a Crane/GPL model 159.
Good question...I imagine so but Ive never tried it. I'll have to look into that.
Yes, the feature is called "multi-vend". Nayax readers are capable of this.
Usually that is a multi-vend option on your machine not related to card reader, look for Multi-vend in your machine settings, note though that this changes the process for cash transactions too, if you have multivend on and someone puts in a $5 and select an $2 item, change will not be given until the coin return button is pressed, so put a not on the machine for that to keep complaints down!
Do you need a separate phone plan for these nayax readers to work with cell towers? Or is that what the $8 / month is for?
That is what the $8 monthly fee is for.
If I’m not mistaking 8$ fee is just for the reader alone 10$ fee is for the reader and for the reader to be able to keep inventory aka product maps
Can you apply 2 tier pricing on some items not all?
I don't think so. I think it's all or none.
Thx
I disagree it cost the business more to do business so why should someone who has cash pay for someone else credit card transactions. By raising the price across all the products that’s what you would be doing. Especially if the only reason the prices went up was because of fees on credit card transactions.
When I set prices for my machines, I take into account all business expenses, from inflation, rising gas prices, repairs, and credit card fees. I consider that all the expense of running a business. The costumer won't know why the price went up 5 cents, so they won't think they are being penalized for paying by cash. But, when the user sees an extra 10 cents charge for credit card purchases, they will be pissed and it will discourage sales. This is especially true if your machines are in an office or warehouse with repeat customers. If your machines are in a high traffic area like an amusement park or visitor center, then it really won't matter if you charge extra for credit because you don't really rely on repeat customers.