“There is tremendous synergy between both of our product lines and solutions that will grow our footprint across our combined customer base,” Cantaloupe CEO Ravi Venkatesan said in a Thursday (Feb. 1) press release.
CHEQ powers payments for numerous professional sports teams, entertainment venues and festival operators, according to the release.
The company’s technology increases food and beverage sales, speeds up transaction times, and drives new customer traffic and engagement, the release said. By leveraging mobile ordering, socially connected payments, real-time reporting and remote support, it helps customers streamline venue operations, increase efficiency and boost revenue.
With its acquisition of CHEQ, Cantaloupe aims to bring CHEQ’s solutions to its current customer base and expand its technology offering through Cantaloupe’s national and international distribution network, the release said.
Cantaloupe is a global technology firm powering self-service commerce for businesses of all sizes, per the release. The company has over a million active locations and processes more than a billion transactions every year. Its vertically integrated solutions include micropayments processing, enterprise cloud software, Internet of Things (IoT) technology, and kiosk and point of sale (POS) innovations.
The acquisition of CHEQ expands Cantaloupe’s offerings into solutions for sport stadiums, entertainment venues, festivals, hospitality, theme parks and both full-service and fast-casual restaurants, according to the release.
It provides a line of offerings, including an enterprise-grade POS platform with real-time reporting, remote support and back-end analytics for high-volume venues and complex transactions, the release said.
Additionally, it offers an omnichannel solution with mobile payments, POS kiosks and handheld devices, per the release. CHEQ’s socially connected technology enables real-time gifting and fosters a sense of community, enhancing fan engagement.
PYMNTS Intelligence has found that the unattended market is transforming the convenience commerce landscape and revolutionizing payment experiences in offices, hotels, universities and other settings.
For example, self-service kiosks have been embraced by 84% of U.S. consumers, with 66% saying they prefer them over staffed checkouts, according to “Unattended: The Payments Technology Shifting the Future of Commerce,” a PYMNTS Intelligence and Discover Global Network collaboration.