Netclearance, a smart beacon technology provider, has announced the launch of its latest beacon: the mBeaconVend. The new mobile-agnostic beacon technology enables vending machines to accept payments directly from a smartphone's mobile wallet, according to a press release.

"The vending machine industry has been slow to capitalize on the growing cashless economy in the U.S. with the vast majority of machines still relying on cash-only transactions," David Fernandez, CEO at Netclearance, said in a statement. "Mobile payments are both attractive and safe for consumers and have the power to revolutionize the purchasing experience, making payments more convenient and quick."

Netclearance said mBeaconVend is based on its mobile-payment solution mBeaconPay. Customers use a customized mobile app to wave their mobile device over the smart beacon to be shown the purchase amount, before confirming the payment on-screen, according to the announcement.

The mBeaconVend is compatible with popular beacon profiles such as iBeacon or Eddystone and this opens up a wide range of mobile app interactions and avenues for proximity advertising, according to the announcement.