Trends
On Cantaloupe, the fintech company pushing for cashless consumption
Cantaloupe, Inc., former USA Technologies Inc., is an American company known for its work with ePort cashless acceptance technology running on its patented ePort Connect service, a PCI-compliant service. Proxy battles of USA Technologies USA Technologies was founded in 1992 and holds more than 87 pa…
Headline
Cantaloupe, Inc., former USA Technologies Inc., is an American company known for its work with ePort cashless acceptance technology running on its patented ePort Connect service, a PCI-compliant service. Proxy battles of USA Technologies USA Technologies was founded in 1992 and…
Context
Cantaloupe, Inc., former USA Technologies Inc., is an American company known for its work with ePort cashless acceptance technology running on its patented ePort Connect service, a PCI-compliant service. USA Technologies was founded in 1992 and holds more than 87 patents on its products and services. Its patents range from payment processing, transaction methods, and terminal connection methods to energy management and telematics.
Evidence
Pending intelligence enrichment.
Analysis
There were currently over 250,000 connections to its ePort Connect Service. The company was named in Deloitte L.L.P. ‘s 2014 Technology Fast 500 List of the fastest-growing companies in North America. The Nilson Report ranked USA Technologies 6th in the US (and 28th worldwide) in POS shipments, and they received the 2014 Frost & Sullivan North American Customer Value Leadership Award in Financial Services and Retail M2M Communications. In 2010, a proxy fight for the company’s board of directors took place with shareholder group SAVE Partners. This proxy fight ended with the addition of two SAVE Board candidates and the modification of company policies. In 2012, there was another proxy fight involving SAVE, but this dispute resulted in no change to the board. USA Technologies’ CEO George Jensen was suspended on 4 October 2011, after he was revealed to be posting company information to an investor board and resigned two weeks later.
Key Points
- Cantaloupe, Inc., former USA Technologies Inc., is an American company, whose patents range from payment processing, transaction methods, and terminal connection methods to energy management and telematics.
- The ePort Connect, Cantaloupe’s primary product, wirelessly facilitates electronic payment options to consumers with credit, debit, or NFC-enabled electronic wallets like Apple Pay and Google Pay while providing operators with both telemetry and machine-to-machine (M2M) services.
- Ravi Venkatesan was named chief executive officer and a member of the board of directors at Cantaloupe in September 2022 and has led the company by driving innovation with new product introductions, streamlining the business and building a strategic initiative to broaden the…
Actions
Pending intelligence enrichment.
