Double Whammy to ‘Swipe’ Away Your Money

An article in today’s Wall Street Journal mentioned that a Coca-Cola bottler and MasterCard International “plan to equip 1,000 vending machines in the Philadelphia area to accept credit and debit cards…”

Another interesting tid-bit: “The Coke machines will also take MasterCard’s PayPass cards, which enable a consumer to save or tap a card in front of a reader.”

We’ve all heard of the Dunn & Bradstreet study stating that people spend a significant amount more when they use plastic verses cash. Perhaps you’ve also heard of the study that stated that cashless vending machine purchases went through the roof when compared to their cash-requiring counterparts.

Look out Philadelphia. Somebody wants your money.

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This is The Wallet. My name is Jesse Mecham, founder of YNAB. Here I focus on the YNAB methodology, software, personal finance, and more.

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