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| [March 12, 2013] |
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Ameri-Source to Promote USA Technologies' Cashless and Telemetry Solutions to Its 475 Members
MALVERN, Pa. --(Business Wire)--
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 a new agreement with
Ameri-Source (News - Alert), LLC, a purchasing management company consisting of
approximately 475 vending companies located throughout the United
States. The agreement establishes Ameri-Source as an endorser and
promoter of USAT's cashless payment and telemetry solutions to
Ameri-Source members.
John Plummer, Jr., president and founder of Ameri-Source, commented, "We
selected USAT because we believe our members, most of them small- to
medium-size vending operators, need to keep pace with new technologies
and trends. Ameri-Source, in its role of providing purchasing advice and
volume benefits for our members, views the decision to adopt cashless
payment and telemetry as a business essential.
"Every day we witness how the consumer under 30, the traveler, the
office worker-- just doesn't carry cash anymore. Our members are going
to have to change to keep up with these dynamics and, in our view, USAT
offers an affordable way for them to do that," added Plummer.
"In addition, cashless payment and telemetry provides them with an
efficient mechanism for raising prices and attracting incremental
revenues through multi-vend purchases. USAT's Two-Tier Pricing Program,
which can be implemented on a machine by machine basis, is another added
plus that our members are already showing great interest in," concluded
Plummer.
As part of the three-year agreement, Ameri-Source will endorse and
promote USAT's ePort® technology and ePort Connect® service to its
members and Ameri-Source members will be eligible to receive preferred
pricing terms outlined in the agreement.
Michael Lawlor, senior vice president of sales and business development
at USAT, said, "The addition of Ameri-Source to our list of buying
groups allows us to reach another an important set of operators in the
vending, office coffee and food service space with greater speed and
efficiency. The ease of doing business wth USAT as a true one-stop shop
is a great fit for Ameri-Source members. In little time, we can help
them position their businesses for the many revenue boosting benefits of
cashless payment, new data about their businesses, telemetry options and
USAT's growing list of expanded services around mobile and consumer
engagement. We look forward to introducing our products and services to
Ameri-Source members in the weeks and months ahead," concluded Lawlor.
About Ameri-Source:
Ameri-Source is a one-contact, cost-cutting professional purchasing
organization exclusively for vending and food service operations. It is
the creation of John R. Plummer, Jr., who brings over 35 years in
purchasing experience ranging from specialty, to regional and national
market purchasing in the food service industry. Ameri-Source is designed
to deliver the same cost-saving purchasing for small to mid-size vending
and food service operations spending up to $5 million or more for food,
beverages, supplies, trucks and equipment. Ameri-Source negotiates the
deals, arranges the rebate monies and handles all the paperwork.
About USA Technologies (News - Alert):
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 (News - Alert)-compliant, end-to-end suite of cashless payment and telemetry
services specially tailored to fit the needs of the small ticket,
self-service retail 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 84 patents;
and has agreements with Verizon (News - Alert), Visa, Elavon 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

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