Cantaloupe’s 2024 Micropayment Trends Report

Cashless and contactless (tap to pay/mobile) payments are surging, higher than ever before, and the new Cantaloupe, Inc., 2024 Micropayment Trends Report details the huge surge towards consumers going cashless and contactless.

Cantaloupe process the transactions from approximately 80% of the world’s vending and micro markets + entertainment machines. Here are some of the highlights of the report, which you can read in its entirety HERE.

REPORT HIGHLIGHTS:

• Cantaloupe analyzed 600,000 active card readers and kiosks in the U.S. and Canada from January through December 2023.
• Consumers spent more than $3 billion at food and beverage vending machines – a $500 million surge or 23% increase in consumer spending compared to the previous year.
• These numbers show that in a post-COVID world, the self-service and convenience industry is thriving.
• Cashless payments made up an average 60% of all vending sales – that’s a 29% increase over the previous year.
• Of those cashless vending payments, contactless payments accounted for 65% of sales.
• Not only do consumers prefer to use cashless payment methods, but they also spend more when they do with the average ticket 55% higher when credit or debit cards are used over cash.
• Micro Markets have exploded in popularity over the last few years and continue to grow with the number of installed micro market locations increasing by 35%.
• Sales at micro markets account for $756 million and more than 300 million transactions.
• Micro market sales are overwhelmingly cashless – 96% of market sales in 2023 were cashless!
• Consumers spend 53% more at micro markets than they do at vending machines with the average sale a more than a dollar higher on average than when paying with cash.
• Following this trend, micro markets are expected to grow another 30% in 2024.
• In the amusement and gaming sector, consumers spent more than $100 million on gaming and amusement machines in 2023 – that’s a 17% increase over the previous year.
• 64% of total sales volume for entertainment and amusement was cashless.
• The average cashless ticket size for amusement machines was 750% higher than for cash purchases!

For more information visit Cantaloupe.com, or View Report.