The present invention provides a system, method and apparatus for collecting, storing and communicating vending machine transaction data. The system preferably includes an embedded data collection and storage device that, when placed inside a vending machine, will collect both DEX and MDB data using a combination of ad-hoc scheduling and trigger-based events. In addition, the embedded data collection and storage device may collect transaction data concerning handheld transactions as well as vending machine error transactions, including timestamps. Functionality operable to permit handheld computer communication with the vending machine, as well as at least a cashless media transaction device may also be included. Data transferred to the handheld computer may be subsequently communicated to one or more host applications or credit agencies.