MALVERN, PA — Cantaloupe, Inc. (Nasdaq: CTLP) has unveiled its 2025 Micropayment Trends Report, shedding light on how cashless payments now dominate self-service transactions. The report, based on data from 2024, confirms an industry-wide shift as consumers increasingly rely on credit cards and digital wallets, impacting revenue opportunities for operators and retailers.
According to the report, cashless transactions accounted for 96% of micro market purchases and the entirety of Smart Store transactions. Vending machine purchases are rapidly transitioning as well, with 77% of payments completed electronically. “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.
Smart Stores and micro markets, which feature higher-priced items like fresh food and household essentials, proved particularly lucrative in 2024. Consumers spent 27% more per transaction at micro markets and 101% more at Smart Stores compared to traditional vending machines. These innovative formats are also expanding into spaces like apartments and gyms, creating fresh opportunities for operators.
“Consumers who use cashless payment methods are less price-sensitive, despite increasing prices on consumer goods,” noted Venkatesan. He emphasized that cashless formats not only enhance convenience but also boost revenue through higher-margin goods and increased customer reach.
Despite inflation, self-service sales remained robust. Food and beverage vending sales surpassed $3.5 billion, while micro market revenue broke $1 billion for the first time in 2024. The data suggests that for many on-the-go consumers, convenience outweighs price concerns.
The report draws from over 625,000 Cantaloupe card readers across vending machines, 17,000 micro market kiosks, and 24,000 amusement and gaming machines. It also highlights that cashless payments have driven remarkable revenue gains in the amusement and gaming sector, an area previously lacking such detailed data.
Looking ahead, Cantaloupe predicts continued growth in this increasingly cashless landscape. Total food and beverage vending sales are expected to climb by 8%, while micro markets are projected to see a 40% increase in revenue. The report also forecasts broader adoption of Smart Stores as operators capitalize on the demand for seamless, technology-driven shopping experiences.
“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,” said Venkatesan.
Cantaloupe’s report underscores how shifting consumer behaviors, aided by cashless technology, are driving transformation in self-service retail. With a focus on adaptability, operators have the opportunity to grow their businesses while meeting consumers’ evolving preferences for frictionless transactions.
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