|[April 03, 2014]
USA Technologies Takes Cashless Payment Services to New Levels with Integrated Payment Services Across the Vending Spectrum
MALVERN, Pa. --(Business Wire)--
Technologies, Inc. (NASDAQ: USAT), ("USAT"), a leader of wireless,
cashless payment and M2M telemetry solutions for small-ticket,
self-serve retailing industries, today introduced its streamlined
Integrated Payment Services model, USAT's newest approach to serving the
needs of today's more complex vending businesses. As an evolution of
USAT's market leading ePort Connect® service, Integrated Payment
Services extends ePort Connect across multiple aspects of a self-serve
business to position operators for better business efficiencies, reduced
cost and a heightened customer experience.
"Integrated Payment Services is about flexing the power of our ePort
Connect service to drive even greater benefits for our customers and for
USAT," said Stephen P. Herbert, chairman and chief executive officer of
USA Technologies (News - Alert). "Integrated Payment Service is essentially about
extending the benefits of cashless that our vending customers have
experienced under the ePort Connect umbrella to other areas of their
business. With USAT as their single payment service provider, customers
have the opportunity to realize a host of new operational benefits
including reduced accounts receivable, the ability to leverage
processing rates and other merchant account efficiencies.
"Another important advantage is our customers' ability to overarch MORE.,
our loyalty and prepaid program, across their business," continued
Herbert. "For our customers that manage multiple types of services
within one account, we believe an integrated loyalty program that
connects them all is a powerful way for our customers to earn that "wow
factor" from their consumers."
ePort Connect's Integrated Payment Services are comprised of:
Traditional vending: Use of USAT's turnkey ePort® and ePort
Connect® cashless payment and telemetry and/or the ability to
integrate third-party devices.
Micro-markets: The transfer of payment processing, through
USAT's growing list of certified micro-market technologies, to the
ePort Connect service network.
Office coffee services and direct store deliveries: Use of
Mobile™ solution to integrate payments "on the go" with other
ePort Connect capabilities and operating data.
Dining Services: Integration of point of sale technologies,
through USAT's QuickConnect web service, to USAT's ePort Connect
Back Office/Online Payment (in development): The ability for
businesses to accept one-time credit/debit payments for goods and
services online and to retain secure, encrypted customer account
information for scheduled and subscription payments.
Loyalty: Expansion of USAT's loyalty and prepaid program, MORE.,
across the above-mentioned technologies supported by the ePort Connect
service network for one, collective customer experience.
"Our vending customers are managing increasingly complex businesses that
might consist of thousands of vending terminals, distribution and
drop-off services, catering and dining services and micro-markets-each
using a different cashless payment service provider," said Herbert. "As
our customers' businesses have evolved to include these new sales
channels, we worked to build upon the strength of our ePort Connect
platform to include these new channels as well. Owners and operators can
now put their entire business on our service. From a cost, efficiency
and service perspective, it's a structure that we believe brings a great
deal of value to our customers."
Cary Sagady, USAT's senior vice president of product management and
network services, added, "One of the advantages of USAT's network
architecture, we believe, is the control and speed with which we can
respond to our customers' changing needs. In micro-markets and dining
services, for example, we continue to work with manufacturers of kiosks
to integrate their payment devices with our ePort Connect service using
our Web service, QuickConnect. In addition, we are utilizing the
knowledge gained from our 75,000 Isis Fifth
Purchase Free promotion acceptance points and our own MORE.
program to extend consumer engagement services to other aspects of our
customers' businesses. We look forward to continued expansion of our
capabilities in this area to drive even more differentiation for USAT."
"We view our newly expanded Integrated Payment Service capabilities as
another exciting differentiator for USAT," said Herbert. "It's a natural
extension of USAT's innovative process that involves close involvement
with our customers. Perhaps more importantly, Integrated Payment
Services underscores how USAT is continuing to leverage our existing
base of over 6,000 customers to drive new connections to our service and
more value to USAT."
Special bundled price will be available to reduce rates for
participating Integrated Payment Service customers. To speak with a USAT
sales representative, contact USAT at 1-800-633-0340.
USAT will be present at the NAMA
OneShow to be held at the McCormick Place, LakeSide Center in
Chicago from April 8-11, 2014. Visit USAT at Booth # 763.
USAT will also be present at TRANSACT
14, April 8-10, 2014, to be held at Mandalay Bay in Las Vegas. Visit
USAT at Booth # 1020.
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 (News - Alert)-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 (News - Alert), Visa, Elavon
and customers such as Compass, 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, and to what extent, USAT's Integrated Payment Services will
provide customers with leverage in rates and better business and
merchant account efficiencies; whether, and extent to which, Integrated
Payment Services can help customers obtain new business and deliver
better service to consumers; the ability of USAT's network architecture
to allow USAT to respond to customers' needs with control and speed; 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 unanticipated events.
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