USA Technologies Renews and Expands Credit Line with Avidbank

  USA Technologies Renews and Expands Credit Line with Avidbank

Business Wire

MALVERN, Pa. -- April 16, 2013

USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless,
cashless payment and M2M telemetry solutions for small-ticket, self-serve
retailing industries, today announced that it has renewed and increased its
working capital line of credit with Avidbank Corporate Finance (“Avidbank”).
The agreement increases the amount available under the credit line from $3
million to up to $5 million, and renews the credit line for another twelve
month period.

“We are pleased that we were able to leverage our relationship with Avidbank
in establishing this expanded agreement,” said USAT’s Chief Financial Officer,
David M. DeMedio. ”Our expanded credit line will provide USAT with an
important source of non-dilutive capital to fund growth, as well as other
working capital needs. Increasing our access to flexible capital through a
credit line, in conjunction with the improvements we have made in generating
cash from our operations over the last year, are important elements in
executing our growth platforms and increasing shareholder value.”

Avidbank Executive Vice President, Mike Hansen, stated, “Avidbank seeks
companies that have demonstrated solid fundamentals within a market that
offers great potential. USAT’s improved financial performance over the last
year and their prospects for growth as a leader in their market warranted this
expanded agreement. We look forward to a continued, successful working
partnership."

About Avidbank

Avidbank Holdings, Inc., headquartered in Palo Alto, California offers
innovative financial solutions and services and specializes in commercial &
industrial, corporate finance, asset-based lending, real estate construction
and commercial real estate lending, and real estate bridge financing. Avidbank
advances the success of its clients by providing them with financial
opportunities and serving them as we wish to be served – with mutual effort,
ingenuity and trust – creating long-term banking relationships.

About USA Technologies:

USA Technologies is a leader of wireless, cashless payment and M2M telemetry
solutions for small-ticket, self-serve retailing industries. ePort Connect® is
the company’s flagship service platform, a PCI-compliant, end-to-end suite of
cashless payment and telemetry services specially tailored to fit the needs of
small ticket, self-service retailing industries. USA Technologies also
provides a broad line of cashless acceptance technologies including its
NFC-ready ePort® G8, ePort Mobile™ for customers on the go, and QuickConnect™,
an API Web service for developers. USA Technologies has been granted 85
patents; and has agreements with Verizon, Visa, Elavon, Isis and major
customers such as Compass, Crane, AMI Entertainment and others. Visit the
website at www.usatech.com.

Forward-looking Statements:

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: All statements other than statements of historical fact included in this
release, including without limitation USAT’s anticipated growth and business
strategy, are forward-looking statements. When used in this release, words
such as "anticipate", "believe", "estimate", "expect", "intend", and similar
expressions, as they relate to USAT or its management, identify
forward-looking statements. Such forward-looking statements are based on the
beliefs of USAT's management, as well as assumptions made by and information
currently available to USAT's management. Actual results could differ
materially from those contemplated by the forward-looking statements as a
result of certain factors, including but not limited to, whether USAT's
existing or anticipated customers purchase, rent or utilize ePort devices or
our other products and services in the future at levels currently anticipated
by USAT, including appropriate diversification resulting from products and
programs other than our Jumpstart Program; the ability of USAT to retain key
customers from whom a significant portion of its revenues is derived; whether
USAT's customers would continue to add additional connections to our network
in the future at levels currently anticipated by USAT; the ability of USAT to
compete with its competitors to obtain market share; whether USAT's customers
continue to utilize USAT's transaction processing and related services, as our
customer agreements are generally cancelable by the customer on thirty to
sixty days' notice; the ability of USAT to obtain widespread commercial
acceptance of its products; and the incurrence by us of any unanticipated or
unusual non-operational expenses, such as in connection with a proxy contest,
which would require us to divert our cash resources from achieving our
business plan or, in the alternative, increase our cash resources through,
among other things, the sale of our securities. Readers are cautioned not to
place undue reliance on these forward-looking statements. Any forward-looking
statement made by us in this release speaks only as of the date of this
release. Unless required by law, USAT does not undertake to release publicly
any revisions to these forward-looking statements to reflect future events or
circumstances or to reflect the occurrence of unanticipated events.

                                    G-USAT

Contact:

USA Technologies
Veronica Rosa, 484-359-2138
VP Corp. Comm. & Investor Relations
vrosa@usatech.com
 
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