Abstract for:Change in payment behaviour towards cashless payments: The effects on the business model of a vending machine producer
This paper uses the tools of system dynamics to model changes in the payment behaviour of the population and how this affects the purchase and upgrade behaviour of our case company. In addition, there are insights into the possible effects of scenarios and policies. The goal of this model is to have a better understanding of what the future of vending machines might look like. For example, when their machines need to be cashless and to what extent they are changing their turnover. Our model should also show what would happen if the company changed its policy regarding the purchase of hybrid vending machines. The results of the base run are as follows: From 2028 on, there will be no cash vending machines left. From the year 2029 on, the number of
hybrid vending machines will decrease because the cash payment function will no longer be needed. The number of cashless vending machines will start growing from the year 2028 on to become, in the end, the most deployed kind of vending machine. Our model contains more than 10 loops with more than 30 variables that are included or affect by the loops.