|By Business Wire||
|February 14, 2014 07:58 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 highlighted customer, Peninsula Vending Services (“Peninsula”), a full-service micro-market, office coffee and vending operator located in Hampton Roads, Virginia, for its use of USAT’s cashless payment and telemetry capabilities to better serve customers during this year’s challenging winter season. In addition, Peninsula has indicated that it is targeting cashless adoption for 100 percent of its locations by April, 2014.
Jason Banwart, President of Peninsula, stated that USAT’s cashless ePort® and ePort Connect® service have been transformational for his business.
“Cashless payment and telemetry each provide benefits and together, provide an even stronger business experience for Peninsula and our customers,” stated Banwart. “For example, the web-based remote monitoring and sales reporting offered as part of ePort Connect and USAT’s seamless integration with vending management system provider, VendSys, for more detailed logistical information, recently helped us serve a number of customers--healthcare, manufacturing and educational facilities--that were impacted by the wave of snow and ice storms in our area. Daily reports on our machines via email allowed our team to stay in motion; and, by studying sales activity, we were able to flag issues, prioritize and react to ensure that these customers were well-stocked. I can’t imagine operating in a world where a business didn’t have this type of valuable information.
“Beyond the clear benefits of telemetry, we have always viewed cashless through the eyes of the consumer. A large number of our customers don’t carry cash like they did in the past,” continued Banwart. “Cashless ensures that we’re addressing this important set of consumers. And, the added convenience factor drives consumer satisfaction, which for Peninsula, has been an enormous factor in retaining accounts and winning new business. We value our relationship with USAT and look forward to growing with them as Peninsula expands its business in Hampton Roads, Greater Richmond and surrounding areas.”
Stephen P. Herbert, USAT’s chairman and chief executive officer, added, “Peninsula’s commitment to cashless and its smart use of the USAT ePort Connect platform is a wonderful example of what we believe is an expanding segment of our customer base, small to medium size businesses, that is becoming increasingly aware of cashless payment and its many benefits. In our view, customers like Peninsula are ahead of the adoption curve and we welcome their leadership and vision as USAT continues to drive adoption in the self-serve retail market.”
For more information about USAT cashless payment and telemetry offerings, contact USAT sales at 1-800-633-0340.
About Peninsula Vending Services:
Peninsula Vending Services is a family owned and operated full-service vending provider of brand name beverages snacks, fresh and frozen entrée options, micro-markets, office coffee service and national vending management services. Peninsula serves the needs of Hampton Roads, Greater Richmond and surrounding areas. Their customers include universities, colleges, large health systems, call centers, manufacturing sites, dealerships and others. Visit the website at www.penvending.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 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, 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, the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; 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.
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