Cantaloupe Upgrades Yoke™ Micro Market Platform

Rhea-AI Summary

Cantaloupe, Inc. (NASDAQ: CTLP) has launched an upgraded Yoke platform, enhancing its Yoke Pay™, Yoke POS™, and Yoke Portal™ solutions. The new features include a faster customer interface, improved promotions, and a customizable loyalty program aimed at increasing customer engagement. The platform now integrates seamlessly with existing systems, offering retail operators cost-effective solutions for unattended markets, resulting in a 50% lower implementation cost compared to traditional vending. The upgraded kiosks are built on Android, featuring enhanced security and management capabilities.

Positive

• Launch of upgraded Yoke platform enhances customer interface and promotions.
• Customizable loyalty program encourages customer retention and engagement.
• Implementation costs for Yoke markets are 50% lower than traditional vending systems.
• New web-based kiosk management solution simplifies operations for retailers.

Negative

• None.

The Newly Enhanced Yoke Micro Market Solution Transforms Yoke Pay™, Yoke POS™ and Yoke Portal ™ making them more intuitive, scalable and user optimized.

MALVERN, Pa.--(BUSINESS WIRE)-- 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 the general availability of the next generation Yoke platform, which includes an upgraded customer interface, enhanced promotions and a new loyalty program that will keep customers engaged.

“Yoke enabled us to easily transition from a vending company to a traditional retailer,” said Chris Cascione, retail market manager, Group C. “The greatest value Yoke brings is the cost of implementation. It’s roughly half the cost to add a Yoke market, compared to a snack and beverage machine.”

Since Cantaloupe acquired Yoke in August 2021, it has worked hard to upgrade an already popular solution with better technology and more tools to help retailers drive sales, while still maintaining its affordable price point. The enhanced platform is faster and more agile, with the kiosk now built on Android. It now features an LTE SIM card and a more durable metal enclosure for the tablet with flexible mounting options. Additional upgrades include a QuickScan functionality at self-checkout, a new loyalty program with tiered rewards, and push notifications to drive sales. Operators will also benefit from a new web-based, kiosk management solution that is easy to use and offers one place to view sales, reporting, etc. Lastly, Yoke maintains its seamless integration with Seed™.

“Our goal was to rethink what a micro market could be,” said Michael Johnson, vice president and general manager of micro markets, Cantaloupe, Inc. “Demand for a frictionless shopping experience is growing. Traditional retailers are turning to the unattended retail market for solutions that will translate easily in the most cost efficient manner possible. This was our motivation behind the new enhancements to the Yoke platform. To better enable operators to quickly roll out a micro market in any sized space and create a seamless shopping experience, at a fraction of the cost.”

Key New Tools and Features:

Yoke POS™: We’ve reimagined the point of sale experience with a sturdier, more versatile terminal that includes a metal enclosure and offers more mounting options. This allows retailers and vending operators to set up and run a successful self-service micro market in many more convenient locations. The new POS maintains its small stature and cost-effective price point while offering a new QuickScan function, a simple self-checkout interface that is easy to use, providing an overall improved experience.

Yoke Pay™: The Yoke Payments consumer app has been redesigned with a new user interface (UI) and user experience (UX) that is intuitive and easy to operate, improving the consumer shopping experience. This engaging and feature-rich interface turns consumers’ smartphones into a POS, enabling consumers to scan and pay for products right from their mobile phones, speeding up checkout and reducing touchpoints. The new interface can help drive sales through push notifications that alert buyers to new deals and promotions. Frequent shoppers can be rewarded with the newly enhanced loyalty program that operators can customize, offering multiple tiers of rewards to keep customers engaged and coming back to that particular location.

Yoke Portal™: Retailers now have access to a web-based kiosk management solution that offers complete access and control to all of their micro market locations. They can maintain and troubleshoot any issues from one location, along with managing new deals, promotions, and loyalty programs.

Seed™ Integration: Integration with the Seed platform is quick and simple. Customers will continue to unlock powerful, time-saving functionalities around route scheduling, inventory management, and back-office efficiencies.

Availability, Sales and Partnership Inquiries:

The newly upgraded Yoke platform is available today. For more information, please contact Cantaloupe, Inc. at +1 800.633.0340 or sales@cantaloupe.com.

Useful Links:

• Cantaloupe: https://cantaloupe.com/
• Yoke: https://www.cantaloupe.com/solutions-point-of-sale/
• Blog: https://www.cantaloupe.com/blog/
• Podcast: https://www.cantaloupe.com/urtechinsiders/
• LinkedIn: https://www.linkedin.com/company/cantaloupeinc
• Resource Center: https://www.cantaloupe.com/resources/
• Twitter: https://twitter.com/cantaloupeinc_
• YouTube: https://www.youtube.com/channel/UCTGQNcXUydcOHLZiuIEPuaw

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.

-- G-CTLP

View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005132/en/

Media and Investor Relations Contacts for Cantaloupe, Inc:

Sarah Toomey

RH Strategic Communications

stoomey@rhstrategic.com

Investor Relations:

ICR, Inc.

CantaloupeIR@icrinc.com

Source: Cantaloupe, Inc.

FAQ

What new features does Cantaloupe's Yoke platform offer?

The upgraded Yoke platform includes an enhanced customer interface, improved promotions, and a customizable loyalty program.

How much lower are the implementation costs for Yoke markets compared to traditional vending?

Implementation costs for Yoke markets are approximately 50% lower than the costs for traditional vending systems.

What type of businesses can benefit from Cantaloupe's Yoke platform?

Cantaloupe's Yoke platform is designed for businesses in the unattended retail market, including micro-markets, vending operations, and more.

When was the Yoke platform acquired by Cantaloupe?

Cantaloupe acquired Yoke in August 2021.

What technology does the new Yoke kiosk platform use?

The new Yoke kiosks are built on the Android platform, featuring enhanced security and functionality.