A study conducted by researchers at Michigan State University, along with vending and payment solutions provider USA Technologies, has found significant performance boosts in cashless-enabled vending machines as compared to units only accepting cash and coin. The report highlights the common practice of outfitting only high-volume machines with cashless technology, but the study’s findings suggest that low-performing vending machines can provide significant revenue growth once equipped with cashless hardware.

Following an announcement with participating Wells Fargo Campus Card colleges and universities in February, the bank has publicly introduced a set of new benefits that are now in effect for students who have opted to pair their student IDs with their Wells Fargo checking accounts. The benefits include offering Wells Fargo Campus Card customers the opportunity to receive waivers or credits for four services that some students use as they begin managing their first bank accounts.

On March 7, 2019, Blackboard announced the sale of its Blackboard Transact unit to private equity firm, Reverence Capital Partners. The deal with Reverence sees Blackboard spinout and sell the Transact business line including the CASHNet payment solution.

Northwest Missouri State Campus Dining has implemented a new, web-based point-of-sale system on its campus. The new POS system replaces an on-site POS system that backed up using various forms of storage devices.

From coin to paper, paper to card, and now card to mobile, payment processors and consumers alike have seen dramatic changes in the way money is spent. But the trick has been keeping up with customer expectation. A recent Forbes writeup offers some considerations that could help businesses keep pace with their customers without unnecessarily increasing risk.

The latest installment in NACCU’s Talking Campus ID Tech series delves into the key differences between open and closed loop payment systems. In the video, Mercer University’s Ken Boyer explains the characteristics of both open and closed loop systems, and what a campus should typically consider when making decisions regarding its payment environment.

Blackboard’s payments platform, Cashnet, recently won the 2018 Innovation and Excellence Award sponsored by the New England Automated Clearing House (NEACH). The NEACH 2018 Innovation and Excellence Awards showcase outstanding payments products and services to the financial industry and beyond.

Payments via standard debit and credit cards, as well as payments via mobile device have posed a significant foe to the campus cards at the vending machine. In our 2016 coverage of the topic, we examined the role that campus vending plays in the open-loop vs. closed-loop debate.