USA Technologies Secures Largest Commitment Ever for its ePort and ePort Connect Cashless Payment and Telemetry Offerings

  USA Technologies Secures Largest Commitment Ever for its ePort and ePort
  Connect Cashless Payment and Telemetry Offerings

 USConnect Consortium Targets 85 Percent Cashless Adoption Over the Next Five
                                    Years

Business Wire

MALVERN, Pa. -- October 29, 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 received its largest
purchase commitment ever. The commitment comes from USConnect®, an alliance of
independent vending and food service companies throughout the United States,
which is targeting the adoption of cashless payment and telemetry technologies
for the majority of the self-serve locations owned or operated by its members
by 2018.

The agreement calls for the purchase of 50,000 ePorts® by USConnect through
its members over the next five years, all of which will utilize USAT’s
comprehensive ePort Connect® suite of services.

According to Jeff Whitacre, longstanding vending operator and industry
entrepreneur, USConnect is the largest connected network of independent
vending and food service companies in the United States. Consisting of
approximately 25 members to date, the USConnect consortium manages over
100,000 snack, food, beverage and other self-serve machines.

“The goal of USConnect is to facilitate, in a leadership role, the
modernization of the vending and food service industry through cashless
payment, wireless telemetry and the value-added capabilities that a connected
base of self-serve terminals can provide—both now and in the future,” said
Jeff Whitacre, chief executive officer and founder of USConnect. “Technology
that connects people, information and machinery is changing the landscape in
the self-serve retail market, and our industry needs to embrace it. We believe
it’s time to re-engage the consumer and disrupt the traditional business
model.”

“USConnect is taking this assertive step with USAT because we’re confident
that a cashless payment and telemetry platform can deliver immense value to
businesses like ours—and USAT has played a huge part in that educational
process since the beginning,” continued Whitacre. “We value the reliability
and flexibility of their service and their commitment to innovative
technologies, services and programs that are good for business and the
industry at large. We look forward to influencing the vending and food service
industry in a positive way with USAT.”

“We are pleased to see USConnect, on behalf of its members, take a prominent
role in the transformation of the vending industry,” said Stephen P. Herbert,
chairman and chief executive officer of USA Technologies. “Our business is
based on the fundamental view that the self-serve retail industry as a whole
has tremendous potential to increase revenues and consumer engagement by
making the transition to cashless payment. With cashless adoption in its early
stages, customers like USConnect and its members are clearly positioned to
take early advantage.”

About USConnect:

USConnect is a consortium of industry-leading, independent food service
companies across the United States. Together, USConnect member companies
provide outstanding quality fresh foods, vending and unattended retail
services, along with corporate catering and coffee services as well as
consistent service and state-of-the-art technology and programs to their
corporate food service clients. To learn more, visit the website at
www.usconnect.biz

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 86
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.

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 the business strategy and the plans and
objectives of USAT's management for future operations, 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, 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 whether USAT's existing or anticipated customers purchase, rent
or utilize ePort devices or our cashless payment services in the future at
levels currently anticipated by USAT. 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, Inc.
Veronica Rosa
VP Corp. Comm. & Investor Relations
484-359-2138
vrosa@usatech.com
 
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