|By Business Wire||
|April 3, 2014 07:53 AM EDT||
USA 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. “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 USAT’s ePort 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 service.
- 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-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, 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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