Cantaloupe, Inc. Highlights Feel Good Market’s Continued Expansion in Latin America

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Cantaloupe, Inc. (NASDAQ: CTLP) Expands Presence in Latin America with Feel Good Market, the First to Bring Micro Market Concept to Panama

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• Cantaloupe, Inc. (NASDAQ: CTLP) has been experiencing exciting success in Latin America with its customer Feel Good Market and their expansion of micro markets in the Panama region.
• Feel Good Market has transformed the self-service retail landscape in Latin America with Cantaloupe's micro market technology, serving approximately 7K customers daily and generating 2 to 3 times the revenue of a traditional vending setup at any of its locations.

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• None.

Feel Good Market is the First to Bring the Micro Market Concept to Panama with Cantaloupe’s Self-Service Technology

MALVERN, Pa. & PANAMA CITY--(BUSINESS WIRE)-- Cantaloupe, Inc. (NASDAQ: CTLP), a digital payments and software services company that provides end-to-end technology solutions for self-service commerce, is expanding its presence in Latin America with its self-service technology and management software for micro markets. One of Cantaloupe’s clients in the region is Feel Good Market, headquartered in Panama City, Panama, who was the first to bring Cantaloupe’s micro market technology to the country. The resounding acceptance of the micro market concept by local consumers and the growth of Feel Good Market is an exciting transformation for the self-service retail landscape in Latin America.

Cantaloupe, Inc. (NASDAQ: CTLP), has been experiencing exciting success in Latin America with its customer Feel Good Market and their expansion of micro markets in the Panama region. (Photo: Business Wire)

“Our collaboration with Feel Good Market underscores Cantaloupe’s advantage to serving locations and customers with options that go beyond traditional vending,” said Rogelio Morando, vice president and general manager of Cantaloupe Latin America. “It’s exciting to see Latin America customers embrace the micro market concept as well—not only have they accepted it, but they are excited to see more self-service options come to their communities.”

Feel Good Market began its relationship with Cantaloupe in 2021 as a customer of Three Square Market (32M), a wholly-owned subsidiary of Cantaloupe. Recognizing the limitations of traditional vending machines in Panama—which predominantly accept only coins and bills, and offered limited products—Feel Good Market seized the opportunity to offer a more convenient and modern solution. By introducing credit/debit card payment acceptance and offering an expanded assortment of food and beverage options—including fresh and frozen foods—Feel Good Market has transformed the way facilities and employees access meals and snacks during the workday. Today, the company operates 28 micro markets, with plans to expand to 30 markets by the end of December.

“When we started this business, there were challenges with workplace snacking experiences in Panama,” shared Aldo Tejada, founder of Feel Good Market. “Our clients were bored with the traditional cafeteria and vending experiences and were hungry for another option. That’s when we discovered micro markets. This allowed us to provide a modern solution that offered not only convenient and user-friendly technology, but enabled us to individually customize each market to meet the unique needs of each client. ‘Feel Good Market’ isn’t just our company name, it’s our brand promise – it’s our commitment to everyone, from executives to employees, because when we deliver on integrity, trust, and quality, everyone feels good. Implementing the micro market concept by Cantaloupe has been pivotal to our business. Their support, from development work to payment solutions specific to our marketplace has been unparalleled.”

What sets this partnership apart is the unique approach to addressing market needs. Feel Good Market, with Cantaloupe's support, has built a brand that embodies convenience, quality, and a seamless customer experience. With their purely cashless solution, Feel Good Market serves approximately 7K customers daily and generates 2 to 3 times what a traditional vending setup would at any of its locations, showcasing the potential of micro markets in the region.

“We started in the middle of the pandemic,” noted Tejada. “Customers wanted safe ways to get their food and beverage options with limited touch points or contact. The ability to pay with a credit card, the fingerprint reader and user-friendly kiosks were a big benefit for customers. We also appreciate the ability to offer a product assortment beyond what is typically found in a vending machine or cafeteria. Our customers love the ability to just shop, scan and pay. We know that micro markets are the wave of the future, and we are excited to be leading that charge with Cantaloupe in Panama.”

“This partnership is just the beginning,” said Jeff Dumbrell, chief revenue officer with Cantaloupe. “As we continue to expand in Latin America, we are excited to have more success stories like Feel Good Market.”

Cantaloupe will be showcasing its self-service products and services in Latin America at a Cantaloupe LIVE event in Mexico on December 5, 2023. Retail operators, vending providers and anyone who wants to learn more about micro markets and experience Cantaloupe’s innovative self-service solutions are encouraged to attend and can reserve a spot by registering at https://go.cantaloupe.com/Cantaloupe-Live-Mexico-23.html.

To learn more about Cantaloupe in Latin America, visit cantaloupe.com.

About Cantaloupe, Inc.

Cantaloupe, Inc. is a global technology leader powering self-service commerce. With over a million active locations across the globe processing more than a billion transactions every year, Cantaloupe is enabling businesses of all sizes to provide self-service experiences for consumers. The company's vertically integrated solutions fuel growth by offering micro-payments processing, enterprise cloud software, IoT technology, as well as kiosk and POS innovations. Cantaloupe’s end-to-end platform increases consumer engagement and sales revenue through digital payments, consumer promotions and loyalty programs, while providing business owners increased profitability by leveraging software to drive efficiencies across an entire operation. Cantaloupe’s solutions are used by a wide variety of consumer services in the U.S., Europe, and Australia including vending machines, micro markets and smart retail, EV charging stations, laundromats, metered parking terminals, amusement and entertainment venues, IoT services and more. To learn more about Cantaloupe, Inc., visit cantaloupe.com or follow the company on LinkedIn, Twitter, Facebook, Instagram or YouTube.

Cashtag $CTLP

G-CTLP

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114853671/en/

Jenifer Howard | 202-273-4246

jhoward@jhowardpr.com

media@cantaloupe.com

Source: Cantaloupe, Inc.

FAQ

What is Cantaloupe, Inc. (NASDAQ: CTLP) doing in Latin America?

Cantaloupe, Inc. (NASDAQ: CTLP) is expanding its presence in Latin America with its self-service technology and management software for micro markets. Feel Good Market in Panama is the first to bring Cantaloupe's micro market technology to the region.

How many micro markets does Feel Good Market operate?

Feel Good Market operates 28 micro markets, with plans to expand to 30 markets by the end of December.

What sets Feel Good Market apart from traditional vending setups?

Feel Good Market offers a cashless solution, serves approximately 7K customers daily, and generates 2 to 3 times the revenue of a traditional vending setup at any of its locations.

What event will Cantaloupe be showcasing its products and services in Latin America?

Cantaloupe will be showcasing its self-service products and services in Latin America at a Cantaloupe LIVE event in Mexico on December 5, 2023.