|By Business Wire||
|February 26, 2014 07:29 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 an agreement with AirVend, a provider of innovative technology focused on the vending industry, that further broadens the menu of cashless payment offerings available for users of USAT’s ePort Connect® service. AirVend offers an android-based interactive touchscreen point-of-sale device designed to enhance the POS experience and ease compliance with proposed government product content disclosure rules.
As part of a three year agreement, USAT, through its ePort Connect service, has become AirVend’s preferred service provider for vending and other unattended retail applications, including kiosk, laundry and amusement industries.
“In today’s fast-paced technology environment, we believe it’s important that our customers have choice,” said Stephen P. Herbert, USAT’s chairman and chief executive officer. “AirVend, as the latest addition to the variety of POS technologies we support on our ePort Connect service platform, meets the needs of customers asking for electronic media/content services, especially around nutritional information. It’s a great example of USAT’s commitment to an open and flexible service platform that delivers great overall value to our customers.”
Lance Ellsworth, AirVend’s co-founder and executive vice president of business development, stated, “We are excited to offer the market this great combination of AirVend’s innovative touchscreen POS technology and USAT’s best-in-class ePort Connect service. By using the AV 5 or AV 7, we believe vending operators will be able to future proof their business. For starters, operators will be better prepared to comply with proposed federal regulations for displaying nutritional information about products. They will also be able to offer advertisements and, in the future, participate in other promotional capabilities that, in our view, can enhance their lives and the lives of their customers.
“At the same time, we are now able to strengthen our go to market approach by incorporating the benefits of USAT’s well-respected ePort Connect service platform,” continued Ellsworth. “We look forward to working with USAT and already have customers beginning the process of transitioning to USAT’s ePort Connect service.”
ePort Connect is a PCI-compliant, one‐stop suite of services designed for the self-serve retail market that includes card processing, merchant account services, DEX data transfer, online sales reporting, settlement services, over‐the‐air updates, machine health alerts and consumer engagement services. Through QuickConnect, a Web service, USAT has made it even easier for customers, developers and manufacturers to connect to the ePort Connect service platform using their own self-serve retail applications or POS devices. As previously announced, connections and customers to ePort Connect grew to 224,000 connections and 6,075 customers, respectively, as of December 31, 2013.
To learn more about USAT’s industry partners, contact Mike Lawlor, senior vice president of sales and business development, at 1-800-633-0340. To learn more about AirVend, contact Lance Ellsworth at 585-217-2236 or [email protected].
AirVend was founded in April 2012 for the express purpose of bringing affordable, advanced technology to the vending and unattended retail industries. The AirVend system is an interactive touchscreen device that displays nutritional information, provides cashless options and sends real-time data and alerts wirelessly, ensuring that vending operators reap the rewards they deserve. Visit the website at www.air-vend.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 anticipated connections to our network, 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 the 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 the Company’s customers continue to utilize the Company’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 accurately predict future market conditions and consumer behavior; whether products offered by third parties, with whom the Company has contracts, fully comply with applicable laws, including those relating to food labeling; and whether, and to what extent, a customer will increase its purchase of USAT’s products and services in the future. 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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