|[March 21, 2014]
USA Technologies Adds Secure Card Tokenization with Latest Network Upgrade of ePort Connect
MALVERN, Pa. --(Business Wire)--
Technologies, Inc. (NASDAQ: USAT), ("USAT"), today announced another
wave of enhancements to its market-leading ePort Connect service that
expand and strengthen its menu of value-added cashless payment,
telemetry and consumer engagement services designed for self-serve
retailing industries such as vending, amusement and arcade, commercial
laundry and kiosk.
The upgrade, available to customers as of February 28, includes special
enhancements such as secure card tokenization, new capabilities designed
to optimize USAT's loyalty and prepaid program, MORE., in
micro-market environments and new operational tools designed to provide
customers additional real-time data about the status of their connected
devices. Information regarding some of the latest enhancements to ePort
Tokenization is a process by which the primary account number (PAN) of a
credit or debit card is replaced with a surrogate value-called a token.
Using tokenization, critical credit card data is tokenized upon
transaction, giving each consumer's card data a unique numeric
identifier. Tokenization has become recognized as an effective way to
increase security of credit card transactions. For example, in a
February, 2014 statement before the U.S. House of Representatives'
Energy and Commerce Committee, Subcommittee on Commerce, Manufacturing
and Trade, Bob Russo, General Manager of the Payment Card Industry
Security Standards Council, noted: "Tokenization and point-to-point
encryption remove or render payment card information useless to cyber
criminals, and work in concert with other PCI (News - Alert) Standards to offer
additional protection to payment card data."
Stephen P. Herbert, chairman and chief executive officer of USAT,
commented, "We want our customers to know that best-in-class security
measures are always top of mind as we continue to innovate our ePort
Connect service platform. For our vending, kiosk and mobile customers,
tokenization adds another level of security beyond the combination of
PCI compliance, USAT's end-to-end encryption and other levels of
security USAT takes to protect the interests of our customers and their
Consumer Engagement Services
Tokenization: In addition to the added security benefits,
tokenization, gives USAT customers broad-based insight into each
consumer's buying patterns. USAT customers can use the activity
associated with 'token' identifiers to track certain consumer trends,
such as range and frequency of certain consumers' purchases.
MORE. - USAT's loyalty and prepaid program: New
enhancements provide the ability to link multiple MRE.
cards to one replenishment account; new options that can accelerate
the transfer of replenishment funds to operators, for improved cash
flow; and, the ability to schedule recurring marketing campaigns by
day of week and time of day.
MORE. in a micro-market environment: Using USAT's
QuickConnect service integration capabilities, USAT-certified
micro-market partners can now also support USAT's MORE.
program, including the ability to replenish a user's MORE.
card with cash or credit at the micro-market kiosk.
Mobile payment and Isis promotion: For USAT customers with
enabled Isis SmartTap® technology for contactless payments, loyalty
and rewards, new reporting tools now allow for tracking of your "Fifth
Purchase Free" promotion award dollars.
Operational Data and Reporting
Changes in data structure now allow USAT customers to build and
retrieve reports in minimal time. And, new shortcuts have been added
for even faster access to reports.
Enhanced "status reporting" makes it even easier for USAT customers to
monitor the latest cash and cashless activity on each machine, the
timing of DEX file transfers, "last call ins," and other status
measures so operators can better prioritize workflow and optimize
their cashless installations.
New on-line credit card acceptance now enables customers to pay for
USAT products and services through their web portal at USALive. In
addition, automated electronic fund transfer (EFT) enhancements
improve the timing of payments by USAT to customers on settlement.
"This latest wave of enhancements to our ePort Connect service is a
great example of USAT's distinctive, in-house system architecture that
provides the added control and design agility indicative of a "one-stop
shop," said Cary Sagady, USAT's senior vice president of product
management and network services. "By controlling key network activity
during and after the time of sale, we are able to simplify cashless
adoption for our customers while also providing them with ongoing
value-added features. From security, loyalty programs, data tools and
machine to machine integration capabilities, we believe that we are
giving our customers the competitive edge they seek."
To speak with a USAT sales representative, call 1-800-633-0860. USAT
customers should email email@example.com
for more information regarding webinar times and dates.
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-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® G-series, ePort Mobile™ for customers on the go, and
QuickConnect, an API Web service for developers. USA Technologies has
been granted 87 patents; and has agreements with Verizon, Visa, Elavon
and customers such as Compass (News - Alert), Crane, AMI Entertainment and others.
Visit the website at www.usatech.com.
"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, business, financial market and economic conditions;
whether new security features, such as tokenization, provide adequate
protection to customers and their consumers against unauthorized
disclosure of cardholder or other user data and/or credit and debit card
fraud; whether, and to what extent, enhancements to USAT's ePort Connect
service, including tokenization, MORE., status reporting, and
availability of EFT payments to customers, will result in additional
value and increased competitiveness for customers; and USAT's ability to
accurately predict future market conditions, consumer behavior and
levels of cashless usage. 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
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