Cantaloupe, Inc. Acquires Micro-Market Innovator Yoke Payments™
NEW ORLEANS–(BUSINESS WIRE)–The NAMA Show 2021 — Cantaloupe, Inc. (Nasdaq: CTLP) (“Cantaloupe” or the “Company”), a digital payments and software services company that provides end-to-end technology solutions for the unattended retail market, today announced it has acquired the assets of Delicious Nutritious LLC, dba Yoke Payments™ (“Yoke”), a Los Angeles, Calif. award-winning micro market payments company. Yoke’s kiosk and mobile apps will be showcased during The NAMA Show 2021 in New Orleans, La. at Cantaloupe’s booth #1231.
Cantaloupe is pleased to announce it has acquired @yokepayments! $CTLP #MicroMarkets #fintech #retailtech #unattendedretailTweet this
Cantaloupe’s Seed Markets™ offering enables its customers to optimize their micro market business by integrating route scheduling, warehouse pre-picking, and reporting for markets, vending, office coffee services (OCS) and pantry. Through the acquisition, Yoke’s point-of-sale platform will now extend this offering to provide self-checkout while seamlessly integrating with Cantaloupe’s inventory management and payment processing platforms.
“Micro markets are the fastest growing segment of the unattended retail industry. While through Seed Markets we already provide logistics and payments services for thousands of micro markets, we knew that extending our fully integrated solution to point-of-sale was important to our customers,” said Sean Feeney, chief executive officer, Cantaloupe, Inc. “Having worked with Yoke for the last four years, this acquisition was a natural progression of our relationship, as the technology is best-in-class and already integrated with Seed Markets. Now we will be able to expand our micro market offerings to any location as we continue to invest in the space, unlocking new revenue and optimization opportunities and enabling them to further scale their business into this important and growing retail segment.”
Yoke’s technology currently integrates seamlessly with more than 40 major platforms, enabling faster onboarding through a plug and play setup that simplifies operations and reduces costs, creating a profitable and scalable micro-market solution for small to medium business; as well as enterprise customers looking to maximize existing locations. In addition, its mobile capabilities facilitate a direct line of communication between merchants and consumers. This enables promotions, coupons, and loyalty and rewards programs, all helping increase customer engagement and retention.
“This is an amazing opportunity for the Yoke team and our customers,” said Michael Johnson, co-founder and chief executive officer, Yoke Payments. “We share many of the same core values, including a passion for delivering solutions that drive our industry forward. In joining the Cantaloupe team, we continue to hold innovation at our core, remain focused on enhancing our micro-market solutions and have the opportunity to expand our global footprint side-by-side with one of the most innovative companies in the industry.”
Co-founders Michael Johnson and Benjamin Thomas will continue to drive Yoke’s growth as members of the Cantaloupe team. Terms of the transaction were not disclosed.
About Cantaloupe, Inc.
Cantaloupe, Inc. is a software and payments company that provides end-to-end technology solutions for the unattended retail market. Cantaloupe is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. The Company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.
About Yoke Payments
Yoke Payments, an award-winning micro market payments company delivers an all-in-one solution for operators who strive to have quick and reliable service for their end users. Yoke’s software grants its customers a dynamic point-of-sale system, business management tools, and integration with various third-party applications. Founded in 2014, Yoke’s expert payments team helps vending operators modernize their business by bringing a mobile and cashless system to their users. Awarded the Silver Medal in Best POS Innovation by PYMNTS.com, Yoke emphasizes their commitment to quality, customer service through their premier payment solution. With Yoke, users don’t just get a payments software; they get a best-in-class payments team. For more information, visit yokepayments.com.
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