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Cantaloupe, Inc. Introduces Engage Pulse for the Arcade and Amusement Industry

1. Cantaloupe launched Engage Pulse for cashless payments in amusements. 2. Cashless payments surpassed $100 million in 2023, with 63% of transactions cashless. 3. Early adopters reported sales increases of up to 85% with Engage Pulse. 4. Engage Pulse enables single transactions for multiple game plays, enhancing user experience. 5. Cantaloupe supports 30,000 customers, expanding growth opportunities in self-service commerce.

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FAQ

Why Bullish?

The launch aligns with industry trends, potentially boosting CTLP revenue, as seen with previous innovations.

How important is it?

The Engage Pulse significantly improves cashless payment capabilities, which is crucial to CTLP's market position.

Why Short Term?

Immediate sales boosts reported by early adopters suggest rapid impact on CTLP revenues.

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NASDAQ: CTLP
MALVERN, Pa.--(BUSINESS WIRE)--Cantaloupe, Inc. (Nasdaq: CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, announces the launch of its new Engage Pulse card reader. This innovative payment solution is designed to maximize revenue potential through a ladder pricing interface that allows players to pay once and then enjoy multiple plays. This feature enables the Engage Pulse to deliver a seamless consumer payment experience while increasing revenue for arcade and amusement operators. This launch comes as the amusement industry experiences significant growth in cashless payments. According to the Cantaloupe 2024 Micropayment Trends Report, consumers spent more than $100 million at amusement machines alone in 2023, with 63% of total sales volume coming from cashless transactions. The average cashless purchase value reached $6.13, compared to only $0.81 for cash purchases, demonstrating strong consumer adoption of digital payment methods and an opportunity for even more industry growth with cashless payment systems. "The amusement and gaming industry has long struggled with the limitations of cash-only payments, which often result in missed opportunities and frustrated customers," said Gaurav Singal, chief technology officer of Cantaloupe, Inc. "Our Engage Pulse device transforms this experience by allowing customers to purchase multiple plays upfront in a single transaction." Early adopters of the Engage Pulse are already seeing remarkable results. “We installed crane games with the Engage Pulse units at one of our trampoline park locations, and in November and December, sales were up 85% year over year. In our mall locations, we’re seeing up to 53% year-over-year sales increases,” said Tim Zahn, vice president of operations at Lieberman Companies, a large amusement and arcade operator in the Minneapolis/St. Paul metro area. “With the Pulse, we’re seeing customers spending $2–3 more than the default $1 price on these games. It makes payment quick and easy.” Lieberman Companies’ success has demonstrated the immediate impact of Cantaloupe’s technology on operator revenue. The Engage Pulse represents a significant advancement in arcade and amusement payment technology, offering operators a comprehensive solution to modernize their businesses. Key features include: Innovative Ladder Pricing Interface: Enabling customers to select multiple plays or extended time periods in a single transaction. A 3.5-inch Color Touchscreen: Providing an intuitive, user-friendly interface for customer interaction. Cashless Payment Acceptance: Expanding customer base and increasing transaction volume. Seamless Integration: Cantaloupe Engage Pulse works with existing arcade and amusement machines, and device transaction data is transmitted into Cantaloupe’s Seed Live platform. "The Engage Pulse is more than just a payment device – it's a complete solution for operators looking to maximize their revenue while providing an exceptional customer experience," added Singal. "By eliminating the friction of multiple card presentations and cash handling, we're helping operators increase their sales, while making it easier for consumers to enjoy their favorite games and attractions." 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. Cashtag $CTLP G-CTLP

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