|By PR Newswire||
|February 3, 2014 09:20 AM EST|
CORONA, Calif., Feb. 3, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines, automated retailing and self-service kiosks, announced that it is one of only a handful of companies that is positioned to benefit from the growing move toward a cashless society. According to The Motley Fool, one of the nation's leading stock analysis organizations, "As the trend toward a convenience and a cashless society marches on, it could shape the future for a number of stocks."
Vending MarketWatch, a leading trade publication, also wrote about the opportunity. "Investors may want to start looking at the growing market of technology companies focusing on cashless payments," the article stated. "Share prices have risen in the last year for companies who specialize in wireless credit card transaction systems."
According to the Motley Fool, a 2013 study by Tufts University found that the cost to society of using cash is over $200 billion per year in terms of fees, theft, and $31 billion in lost productivity.
And customers prefer the convenience of cashless payments.
"Currently cashless adoption is very low among vending machine owners, and the self-serve market," the article stated, noting 93% of vending machines are currently without a credit card payment option.
AVT is a leader in providing cashless payment systems, along with a complete, backend management service.
"Virtually all of our new systems feature our exclusive cashless technology," said James Winsor, CEO of AVT, Inc. "Since only 7% of vending machines currently have this technology, we believe that there is tremendous potential for AVT to grow market share by replacing and retrofitting old-style machines."
For more information on AVT, their cashless payment technology, custom vending machines, and self-service micro-stores, contact the company at (877) 424-3663, or visit the website at: www.autoretail.com.
Connect with AVT on Facebook at: https://www.facebook.com/AVTInc
Follow AVT on Twitter at: https://twitter.com/AVTIncCA
Read The Motley Fool article: http://www.fool.com/investing/general/2014/01/10/are-the-days-of-cash-numbered-these-companies-hope.aspx
Read the Vending MarketWatch article: http://www.vendingmarketwatch.com/news/11295340/cashless-payments-increase-in-popularity-pique-investor-interest
Forward-Looking Statements: This release contains forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and are subject to significant risks and uncertainties. We do not take any obligation to update any forward-looking statement to reflect events or developments after the statement was made.
SOURCE AVT, Inc.