Abstract: A method for operating a beacon-based vending system with a vending machine and multiple mobile devices includes steps of selecting a merchandise item through the vending machine, performing a beacon payment selection through the vending machine, determining if one of the mobile devices is a payer device according to the beacon payment selection result through a first beacon transceiving module of the vending machine, when the mobile device is a payer device, unlocking a beacon payment function of the beacon application installed on the payer device through the first beacon transceiving module, and performing the beacon payment function of the beacon application through the payer device. Given the method, a secure, precise and simplified transaction process can be achieved, users' operational convenience can be enhanced, and transaction time can be shortened.