Sean Feeney took the helm of unattended payment giant USA Technologies in May 2020, bringing a background in both technology and financial services and a long track record building companies and assembling world-class management teams.
The new CEO is off to a running start at USAT, which recently relisted on the Nasdaq after its delisting in early 2019 following an accounting probe and management shuffle. He’s also spearheaded a rebrand in 2021 to Cantaloupe Inc. to leverage the brand equity of Cantaloupe Systems, which USAT acquired in 2017. Cantaloupe’s and USAT's combined technologies deliver an integrated end-to-end solution for cashless payments, dynamic route scheduling, automated pre-kitting, merchandising and inventory management for unattended retail.
Feeney discussed with VendingMarketWatch the significance of USAT’s recent milestones and how its helping operators adapt to changing retail trends and run their businesses more proactively, predictably and competitively in challenging times.
What does the name change to Cantaloupe mean for the company?
We built a lot of momentum with the Nasdaq relisting and were looking for the next step. Cantaloupe had built equity and customer loyalty and we decided the name is fresh, ripe and the perfect brand going forward. We grew up as USAT, but as we expand internationally, we want the brand to represent the energy of our several combined companies and communicate the dynamic developments in payment systems as the world moves to contactless solutions.
Which countries are you targeting as part of USAT’s international expansion?
We already do business in Mexico and Australia. We hired Fernando Lopez LaCroix, who worked with our chairman for many years at Verifone. He’s looking at potential markets for us in Latin America, Mexico, and the Caribbean.
How has USAT helped operators navigate COVID and prepare for the future of unattended retail post-COVID?
A number of operators have used Cantaloupe Seed technology and found it invaluable in reacting to COVID to run their routes and operations as efficiently as possible and to help bring people back.
COVID has absolutely accelerated cashless and contactless purchases and that momentum will continue post COVID. There’s no argument against that. Young people, especially, want to buy in a moment at the point of sale, which drives cashless.
We will see more of a move away from staffed cafeterias in offices replaced with micro markets and vending and camera technology with a move toward unattended and cashless. We have the software and hardware to help operators handle cashless transactions and manage their vending machines and micro markets as the market continues to evolve.
We are working with many operators who are nimble and aggressive to move to meet demand that others can’t meet with their existing business models. The COVID headwind has forced all of us to look at our businesses and make them as efficient as possible.
I’m excited about the future and to deliver on our vision to help consumers “buy it and go.” The key is for us to stay close to our customers by providing services and solutions they need as they acclimate to the industry’s changes, by helping them optimize their performance, modernize their operations and find new avenues for growth.