Bakkt partners with Cantaloupe to enable consumers use crypto & loyalty points to make purchases
By Pavithra R
Bakkt, a Financial service company, aimed to bring transparency and trust to digital assets has announced entering into a strategic partnership with Cantaloupe, a software and payments company providing end-to-end technology solutions for the unattended retail market, to bring a new, cashless experience for consumers to spend digital assets at unattended retail devices.
Under the deal, in addition to cash, debit and credit card, or mobile wallet, consumers will have the choice and flexibility to pay for products with cryptocurrency and supported loyalty points across Cantaloupe’s nationwide network. The collaboration will enable Cantaloupe to offer consumers the ability to pay using the digital assets within the Bakkt App, starting with bitcoin and participating loyalty points.
“It’s often overlooked how much untapped digital assets are waiting for consumers to uncover, redeem and spend. Our partnership with Cantaloupe delivers a frictionless customer experience for consumers to use digital assets as they’re intended, and we’re delighted to introduce an innovative payment option that drives both merchant sales and moments of customer delight. Imagine being able to buy a snack at an airport with unused points that, until Bakkt, you didn’t know you still had,” said Bakkt CEO Gavin Michael.
Additionally, Bakkt will integrate into Cantaloupe’s consumer application as a preferred payment choice, and it will support new “Pay With Crypto” and “Pay With Points” experiences. The “Pay With Points” feature enables users to leverage their unused loyalty points as payment. The firm will facilitate new customer experiences at existing, unattended retail locations while accelerating the growth of enterprises to adopt digital assets as any fiat currency. Cantaloupe plans to add Bakkt-branded payment signage on all devices shipping from October 2021 onward.
“At Cantaloupe, we have a track record for being forward-thinking and pioneering the newest payment options that empower consumers to make purchases with any method they prefer. We view our partnership with Bakkt as a natural extension of our next-generation payments platform, further solidifying our place as the unattended retail industry innovator,” said Sean Feeney, CEO of Cantaloupe.
Launched in 2018, Bakkt is leading a new era of financial services innovation, focused on reimagining and unlocking the value of digital assets like rewards and loyalty points, gift cards, and cryptocurrency owned by Intercontinental Exchange (ICE). The company’s goal is to make all digital assets as liquid as any fiat currency.
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