Company Announcements

Consumers are Choosing to Forgo Cash in Favor of Credit Cards and Digital Wallets, Spending More at Vending Machines, Micro Markets and Beyond

MALVERN, Pa.--(BUSINESS WIRE)--Apr. 24, 2025-- Cantaloupe, Inc. (Nasdaq: CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, has released its 2025 Micropayment Trends Report, analyzing millions of transactions from 2024 across vending, micro markets, amusement machines and Smart Stores. This annual report is critical in providing convenience services operators with valuable insights on consumer behavior, payment trends and emerging growth opportunities for the year ahead. For example, Cantaloupe identified four key trends from the previous year:

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• Retail is going cashless, especially when it’s self-service. In 2024, 96% of micro market transactions and 100% of Smart Store transactions were cashless. Vending remains strong, with 77% of all vending cashless transactions made via card or mobile pay. For operators and retailers who invest in cashless payment technology, those machines result in significant revenue increases.

• Smart formats drive higher spending. Consumers spent almost 27% more per transaction at micro markets and 101% more at Smart Stores compared to traditional food and beverage vending machines. These formats often include higher-margin goods like fresh food and household essentials, and are expanding into apartment buildings, gyms and more. Micro markets and Smart Stores are also allowing operators to grow and diversify their businesses with higher revenue opportunities in new locations and the ability to reach customers outside of traditional brick-and-mortar locations.

• Contactless payments are now the norm. Tap-to-pay methods continue to rise, offering a secure and seamless checkout experience that consumers prefer, especially in self-service environments.

• Inflation isn’t stopping spending. Despite higher prices for many consumer goods, self-service sales remained strong. Food and beverage vending sales exceeded $3.5 billion in 2024 and micro market sales topped $1 billion for the first time, indicating that oftentimes, convenience outweighs cost for many consumers when it comes to in-the-moment purchases.

“This year’s data confirms what we’ve been seeing across our network — the shift toward cashless and smart retail continues to accelerate,” said Ravi Venkatesan, CEO of Cantaloupe, Inc. “In fact, our year-over-year data shows that consumers who use cashless payment methods are less price-sensitive, despite increasing prices on consumer goods. Heavily cashless self-service solutions, like micro markets and Smart Stores, present opportunities for vending operators and retailers alike to continue driving revenue on higher margin necessities and convenience goods.”

Cantaloupe’s leadership in the vending industry, along with its global network of card readers and volume of payment processing, provides the company a unique perspective into micropayments, or transactions under $10 — often under $5 — giving unmatched visibility into consumer behavior. In addition to looking at vending and convenience trends, this report also dives into recreational amusement/entertainment/gaming spending, giving an industry that hasn’t had this level of data visibility in the past a clear vision of performance. Here too, cashless is king, with card readers returning a significantly higher level of revenue than machines that only take cash.

The Cantaloupe Micropayment Trends Report is based on data from more than 625,000 Cantaloupe card readers on vending machines, 17,000 micro market kiosks, 24,000 amusement and gaming machines, and four months of Smart Store transactions, since the product was only recently released in November 2024.

The report also includes some industry predictions for the year ahead, including continued growth of total sales at food and beverage vending machines at 8%, and micro markets at 40%. With the dominance of cashless payments across self-service formats, and the expected growth of Smart Store adoption in the convenience services and retail segments, forward-looking operators should see plenty of opportunity to maximize revenue.

“Operators and retailers who embrace today’s cashless and smart retail technology are reaping the rewards with higher sales and the ability to service customers in places they weren’t able to before,” noted Venkatesan.“We expect to see this trend continue as the world moves more towards frictionless self-service experiences.”

To view or download the full report, visit cantaloupe.com.

About Cantaloupe Inc.

Cantaloupe, Inc. (Nasdaq: CTLP), is a global technology leader powering self-service commerce. Cantaloupe offers a comprehensive suite of solutions including micro-payment processing, self-checkout kiosks, mobile ordering, connected point of sale systems, and enterprise cloud software. Handling more than a billion transactions annually, Cantaloupe’s solutions enhance operational efficiency and consumer engagement across sectors like food & beverage markets, smart automated retail, hospitality, entertainment venues and more. Committed to innovation, Cantaloupe drives advancements in digital payments and business optimization, serving over 30,000 customers in the U.S., U.K., EU countries, Australia, and Mexico. For more information, visit cantaloupe.com or follow us on LinkedIn, Twitter (X), Facebook, Instagram or YouTube.

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Jenifer Howard | 203-273-4246
jhoward@jhowardpr.com
media@cantaloupe.com

Source: Cantaloupe, Inc.