Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

USA Technologies Adds Eight More to List of Exclusive Customers in its Fourth Fiscal Quarter



  USA Technologies Adds Eight More to List of Exclusive Customers in its
  Fourth Fiscal Quarter

Business Wire

MALVERN, Pa. -- June 27, 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 eight additional exclusive ePort
Connect® service agreements with existing vending customers, adding to the
three new exclusive agreements already announced for the fourth quarter ending
June 30, 2013 and the exclusive agreements already entered into in Fiscal
2013.

“We believe this latest set of exclusive agreements, which includes one of
largest independent vending companies serving the California market and a
global organization that is one of the top foodservice management companies in
the United States, supports the value our customers place in working with a
reliable and proven partner like USAT that can help them scale their business
for cashless payment, telemetry and new consumer engagement services in the
years ahead,” said Michael K. Lawlor, senior vice president of sales and
business development for USAT.

USAT believes that its existing customer base that includes vending, kiosk,
amusement & gaming, laundry and other small-ticket, unattended businesses
represents over 2.5 million potential connections as these industries
transition to cashless payment. As of March 31, 2013, USAT had expanded its
customer base from 950 customers three years ago to 4,525 customers, a
compound annual growth rate of 68 percent.

“With less than 10 percent cashless penetration in the vending market, based
on a recent survey of approximately 5.3 million vending machines in Automatic
Merchandiser’s 2013 State of the Vending Industry Report, there is a
tremendous opportunity to change the dynamics in that industry,” continued
Lawlor. “We believe our customers are recognizing that cashless payment not
only enables them to reconnect with the growing population of consumers who no
longer carry cash and coin, but it’s becoming a necessity to win and retain
most accounts. An exclusive standing with USAT provides these exclusive
customers with an edge they value as their needs grow and as USAT’s product
and service portfolio continues to expand.”

The eight agreements call for exclusive use of USAT's comprehensive ePort
Connect® service and are all three years in duration.

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 and customers such as
Compass, Crane, AMI Entertainment and others. Visit the website at
www.usatech.com.

                                    G-USAT

Contact:

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