Cantaloupe Inc. held its first-ever Innovation Summit on Aug. 17 prior to the The NAMA Show in New Orleans, where the fintech company highlighted a new product strategy for unattended retail.
The summit featured insights and experiences from Imperial Vending’s use case, highlighting the Cantaloupe deployment and returns received from implementation of the enhanced version of Remote Price Change.
Speaking to trends that are accelerating demand for frictionless purchasing experiences and robust vending management system software solutions were Cantaloupe chief executive Sean Feeney, chief technology officer Ravi Venkatesan and chief revenue officer Anant Agrawal.
Michael Johnson and Benjamin Thomas spoke about Yoke Payments, a micro market company recently acquired Cantaloupe. discussing its micro markets solution.
In addition to the product presentations, Josh Rosenberg, former chairman of the National Automatic Merchandising Association, delivered the Innovation Summit's keynote. The presentation addressed the evolution of consumer behaviors in retail and how micro-fulfillment will play a vital role into how customers go to market to deliver what they want at the point of sale, when they want it.
“Cantaloupe has a legacy of bringing leading-edge innovation to the unattended retail market,” Feeney said. “We were extremely pleased to showcase our newest product offerings.
"Whether it’s bringing additional ways to pay like cryptocurrency, mobile wallet campus cards, or QR codes, or empowering our operators to optimize their businesses with innovative, soon-to-be-unveiled apps" he added, "Cantaloupe remains one step ahead of the marketplace, driving exceptional operational benefits for our operators, and consumer experiences that exceed expectations.”
Here are 10 takeaways from Cantaloupe's Innovation Summit:
- Yoke Payments. Through the acquisition of Yoke Payments, Cantaloupe’s platform will now offer a convenient self-checkout kiosk for the on-the-go consumer. The acquisition of Yoke was announced on Aug. 17.
- Campus cards. Instead of a physical stored-value card, students will now be able to add campus cards to their mobile wallets, enabling them to pay for goods on campus and access amenities. This new functionality will be compatible with ePort G10 readers. This is only available with Apple Wallet at launch, with Android compatibility to be added later this fall.
- Cryptocurrency. Consumers can now pay with cryptocurrency through MORE mobile platform, browser-based app on ePort card readers. This is an added convenience for consumers with no added cost to operators, they will see it as normal transaction in dollars. This functionality is powered by Cantaloupe’s recent integration with the Bakkt platform and will be available in the fall 2021.
- MORE Mobile engagement platform. The MORE Mobile platform is getting a full refresh. A new mobile browser-based app-less experience will enable multiple functionalities such as, pay with crypto, touchless vending and loyalty programs, among others. Operators may brand the experience as their own or enable their customers to brand. App launch introducing pay with crypto available fall 2021, with additional features coming soon.
- Touchless vending. Consumers will be able to scan a machine’s unique QR code, select items from a menu of all the offerings in the machine and pay for their selection, all from their smart phone or via card reader. This new functionality utilizes a mobile browser app, and a monthly fee plus a one-time device purchase is required. Solution will be available in fourth quarter of 2021.
- ePort Engage. The next generation ePort reader has a vibrant 3.5” color touchscreen to draw in consumers, impress brands and help drive increased sales. It offers a full edge-to-edge touch surface, is impact resistant and accepts EMV chip and most other payment types. Engage preorders are open and units begin shipping in October.
- ePort Engage Combo. This is a 2.5” screen version of the Engage reader fits over a vending machine's bill validator. It supports two different bill acceptors: Coinco and MEI – 66mm (for U.S. bills) and 72mm (for Canadian bills). The Combo reader ships February 2022.
- Seed Warehouse app. This is a new mobile app version of Cantaloupe's existing warehouse app. It enables greater control over inventory and operations, with an easy-to-use, step-by-step mobile app. The solution builds off existing Seed Office functionalities, and it’s offered on both Apple and Android devices. The latest Seed Warehouse will ship at the end of the year.
- Seed Mobile. Cantaloupe is modernizing the look and feel of this app, with existing functionality remaining the same. It will now be available on Android devices through the Android app store. It iwll be available in the second quarter of 2022.
- Remote Price Change (RPC). Cantaloupe said its list of compatible RPC machines is steadily increasing. The company is adding Royal G3 (660/804) and Dixie Narco BevMax 4 beverage machines to its catalog of machines that function with RPC, a Seed software that enables operators to change the price of machine coils remotely. The additional will be available by the end of the year.
An archived replay of the Cantaloupe Innovation Summit is published at the Investor Relations section of the company's website, or here below.
