Digital payments fintech Cantaloupe acquires Yoke Payments

Digital payments and software company Cantaloupe has acquired California-based micro-market payments company Yoke Payments.

Yoke Payments was founded in 2014

Cantaloupe provides end-to-end tech solutions for the unattended retail market, and its newly acquired assets — Yoke’s point-of-sale platform — will integrate self-checkout with its inventory management and payment processing platforms.

Micro-markets act as walk-in vending machines, utilising self-checkout tech to expand retail into locations that require unattended payment capabilities.

Cantaloupe’s Seed Markets software provides the tools for unattended retail businesses through integrated route scheduling, warehouse pre-picking, and reporting for markets.

The firm says Yoke’s plug-and-play setup simplifies operations and reduces costs, making it easier for small and medium-sized micro-markets to scale and become profitable.

Cantaloupe CEO Sean Feeney says: “Micro-markets are the fastest growing segment of the unattended retail industry [and] we knew that extending our fully integrated solution to point-of-sale was important to our customers.

“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 optimisation opportunities and enabling them to further scale their business into this important and growing retail segment.”

Yoke co-founders Michael Johnson and Benjamin Thomas will stay on as members of the Cantaloupe team.

Source: https://www.fintechfutures.com/2021/08/digital-payments-fintech-cantaloupe-acquires-yoke-payments/