Cashless conversion

Definition

Fitting machines to take cards, a retrofit of a few hundred dollars a machine.

Why It Matters

Cashless machines commonly take meaningfully more per location than coin-only ones, so the share of the fleet already converted is both a value driver and a read on capital you may have to spend. An unconverted route is upside with a bill attached: the readers cost a few hundred dollars each and carry a processing fee per sale. Ask how many machines are converted, and what the seller's own data shows the lift has been.