Cantaloupe, Inc.

Last updated
Cantaloupe, Inc.
FormerlyUSA Technologies Inc.
Company type Public
Nasdaq:  CTLP
Industry Point of sale software
Founded1992;32 years ago (1992), in Pennsylvania, US
Headquarters,
United States [1]
Key people
Sean Feeney (CEO) [2]
Products
  • ePort
  • ePort Mobile
  • ePort Online
  • MORE, a loyalty and Prepaid Consumer Engagement system
  • Quickconnect Web Services
  • EnergyMiser
  • and more
Number of employees
150 [2]
Website www.cantaloupe.com

Cantaloupe, Inc., previously known as USA Technologies Inc., is an American company known for its work with ePort cashless acceptance technology running on its patented ePort Connect service, a PCI compliant services. ePort Connect wirelessly facilitates electronic payment options to consumers with credit, debit, or NFC enabled electronic wallets like Apple Pay and Google Pay while providing operators with both telemetry and machine-to-machine (M2M) services. ePort technology is primarily found in vending machines, kiosks and point-of-sale (POS) terminals, but the ePort Online and ePort Mobile products have extended the network to accept recurring payments from a PC or retail outlets and the taxi industry through smartphone devices. [3] [4] [5] [6]

Contents

History

USA Technologies was founded in 1992 and holds more than 87 patents on its products and services. Its patents range from payment processing, transaction methods, and terminal connection methods to energy management and telematics. [7] There are currently over 250,000 connections to its ePort Connect Service. [8] The company was named in Deloitte L.L.P.'s 2014 Technology Fast 500 List of the fastest-growing companies in North America. [9] [10] They worked with Setomatic Systems to be the first to bring NFC technology into the self-service laundry market [11] The Nilson Report ranked USA Technologies 6th in the US (and 28th worldwide) in POS shipments, [12] and they received the 2014 Frost & Sullivan North American Customer Value Leadership Award in Financial Services and Retail M2M Communications. [13]

In 2010, a proxy fight for the company's board of directors took place with shareholder group SAVE Partners. [14] This proxy fight ended with the addition of two SAVE Board candidates and the modification of company policies. [15] In 2012, there was another proxy fight involving SAVE, but this dispute resulted in no change to the board. [16]

USA Technologies' CEO George Jensen was suspended on 4 October 2011, after he was revealed to be posting company information to an investor board and resigned two weeks later. [17] [18] Stephen Herbert was appointed as CEO and held that position until he stepped down in 2019 due to the "start of a proxy battle brought by its largest investor", Hudson Executive Capital. [19]

USA Technologies announced its name change to Cantaloupe, Inc. on 19 April 2021. [20] [21]

Products

Cantaloupe's primary product is the ePort, a cashless payment terminal for vending machines, kiosks, and POS terminals. The ePort EDGE accepts magnetic swipe cards, and the ePort G8 & G9 series also accept contactless cards, FOB, PIN, and virtual wallets such as Apple Pay and Softcard. [22] [23] [24] [25] [26] [27] It features an inclusive system for providing remote audits, cashless payment, and interactive transaction capabilities in a vending machine. [28] In 2010, the ePort EDGE won the National Automatic Merchandising Association (NAMA) award for innovation in cashless vending technology. [29] [30] [31]

Specific to vending machines, Cantaloupe holds over a dozen patents and have maintained partnerships with MasterCard Worldwide, [32] Dr. Pepper/Seven Up, [33] Kodak, ZiLOG, CineMachine, MEI, and Wurlitzer, among others. [34]

The company has been ranked several times among the leading shippers of point-of-sale terminals by The Nilson Report, a source of news and research on consumer payment systems worldwide. In 2009, it ranked 6th in the US and 31st in the world. [35] [36] [37] In 2013, the report ranked 6th in point-of-sale shipments in the United States and 28th in the world. [12] Cantaloupe announced its expansion initiatives in Australia in June 2018. [38]

Related Research Articles

<span class="mw-page-title-main">Smart card</span> Pocket-sized card with authentication circuitry

A smart card (SC), chip card, or integrated circuit card, is a card used to control access to a resource. It is typically a plastic credit card-sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards throughout their populations.

<span class="mw-page-title-main">Point of sale</span> Time and place where a retail transaction is completed

The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt, as proof of transaction, which is usually printed but can also be dispensed with or sent electronically.

<span class="mw-page-title-main">Vending machine</span> Machine which automatically dispenses products to customers after payment

A vending machine is an automated machine that dispenses items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or payment is otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created.

<span class="mw-page-title-main">Interactive kiosk</span> Computer terminal that provides access to information, communication, commerce etc.

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Machine to machine (M2M) is direct communication between devices using any communications channel, including wired and wireless. Machine to machine communication can include industrial instrumentation, enabling a sensor or meter to communicate the information it records to application software that can use it. Such communication was originally accomplished by having a remote network of machines relay information back to a central hub for analysis, which would then be rerouted into a system like a personal computer.

<span class="mw-page-title-main">Gemalto</span> International digital security company

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<span class="mw-page-title-main">SkyBitz</span>

SkyBitz is an American company based in Herndon, Virginia, that provides machine to machine (M2M) products for the tracking and management of mobile assets. Parent company Telular Corporation is a fully owned subsidiary of Avista Capital Partners, a private equity firm based in the United States. SkyBitz is a remote asset tracking and information management service provider, specializing in real-time decision-making tools for companies with unpowered assets such as tractor-trailers, intermodal containers, chassis, rail cars, power generators, heavy equipment, and other assets. The company's asset tracking products are delivered using a software as a service (SaaS) model to commercial, transportation, military, and public safety customers, including sensitive shipment haulers of Arms, Ammunition, and Explosives (AA&E) cargos. With the acquisition of commercial telematics companies Reltima and GPS North America in 2015, SkyBitz entered the local fleet management market.

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Crane Payment Innovations is a designer and manufacturer of vending machines. They are a business unit of publicly traded Crane NXT and their manufacturing facility is located in Williston, South Carolina, United States.

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George R. Jensen Jr. is an American businessman who founded USA Technologies Inc., (USAT), a high-tech company that developed the ePort, the first wireless networked cashless payment technology for vending machines, unattended Point-of-Sale (POS) terminals, and kiosks.

Nayax Ltd. is a global fintech company that offers cashless, telemetry, management, monitoring, and business intelligence (BI) products and services for the vending, unattended, and other retail industries.

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