|By Business Wire||
|December 20, 2012 11:13 AM EST||
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 All Stop Vending (“All Stop”), a vending food service company based in southeastern Florida, has signed an exclusive agreement with USAT that also indicates All Stop’s intent to go 100 percent cashless.
All Stop provides vending and coffee services in the tri-county areas of Miami-Dade, Palm Beach and Broward Counties, Florida. Under the terms of the three-year exclusive agreement, All Stop will utilize USAT’s ePort® technology for cashless payment and telemetry hardware platforms as well as USAT’s ePort Connect® service, a one-stop, comprehensive suite of services.
Michael Helft, owner and operator of All Stop, commented, “We started our cashless transition using USAT with just a small number of machines because we wanted to learn more. Once it became clear to us that consumers were becoming increasingly familiar with cashless, we decided to run—not walk. In fact, we would like All Stop to be at 100 percent cashless by 2014.
“In reaching this decision, rather than take a piecemeal approach to our plans for cashless, we took a holistic approach that considered our brand, competitive differentiation, improved pricing and inventory options,” continued Helft. Technology in this market is expanding far beyond the traditional ‘box’—it’s about the economics and spending behaviors of our consumers—and those trends continue to support greater use of credit/debit and mobile-based payment in the years ahead.
“We chose USAT as our partner in this important journey for a host of reasons, including their invaluable support services educating us on cashless payments, the reliability of their service and the way they have made it easy for operators like me to implement cashless and telemetry,” added Helft. “These differentiators and their solid footing in the cashless payments market made USAT the perfect choice as a long-term partner.”
Michael Lawlor, USAT’s senior vice president of sales and business development, commented, “We congratulate Mike Helft and All Stop on this important strategic step. They concur with our view that cashless payment can drive incremental top-line revenues and operational efficiencies through our wireless telemetry, with both having a positive impact on their bottom-line. As a forward-thinking business operator, Mike Helft understands adoption of cashless payments is imminent in the vending industry and the strategic benefits of having a 'first to market' cashless advantage for his business in south Florida. We look forward to working with All Stop to make this cashless transition a huge success,” concluded Lawlor.
About All Stop Vending
All Stop Vending is a vending food service company serving the tri-county areas of Miami-Dade, Palm Beach and Broward Counties, Florida. Headquartered in Hallandale, Florida, All Stop Vending specializes in vending machine supplies, vending services, soda vending services, fresh food vending, snack vending, coffee service, ice cream service, soda service, variety vending machines, snack services, and ice cream vending. For more information, visit www.allstopvending.com.
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 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, Visa, Elavon and major customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.
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