"We are proud to present the e-Port G6 to the vending industry. It builds upon the market leading e-Port series of products, which are installed in thousands of locations across the US, and over time, have successfully processed tens of millions of credit card transactions on behalf of our customers," said Stephen P. Herbert, President and COO, USA Technologies. "All along we have strived to improve our e-Port product, and have strategically protected our intellectual property via the Company's portfolio of 65 patents. This offers our customers and partners the opportunity to apply cashless technology to their businesses via USA Technologies' market leading e-Port, and to do so in an unencumbered manner."
“With the launch of the e-Port G6, we are further demonstrating our leadership -- in cashless vending, in bringing to market the latest in cashless technology, and in addressing the needs of major card companies and vending machine operators.”
USA Technology's G6 accepts both traditional magnetic stripe credit cards and credit cards with tap and go technology, known as MasterCard's PayPass, American Express' ExpressPay, Visa's Contactless and Chase Bank's Blink technology. The Company is offering the G6, with more customer features and install flexibility, without increasing its price. It will sell for the same price as the e-Port G5.
The G6 responds to requests from major card companies for cashless and RFID technologies to give card holders multiple choices at vending machines. The Company's RFID technology is currently undergoing marketplace trials by MasterCard in hundreds of vending locations across multiple US cities.
The Wall Street Journal reports that card companies are investing millions of dollars in contactless card technology to capture the micro-transaction opportunity, and claims consumers are more prepared than ever to use their cards to make micro-purchases of $2-$5. Among early adopters of the card companies' contactless card transaction systems are McDonalds, Regal Cinemas, Wawa, CVS, and Rite Aid.
"The card companies see the $40 Billion U.S. vending industry as a major opportunity for driving growth in card acceptance via micro-transactions, and they came to us, seeking out our leadership in cashless transactions in vending," said Mr. Herbert. "With the launch of the e-Port G6, we are further demonstrating our leadership -- in cashless vending, in bringing to market the latest in cashless technology, and in addressing the needs of major card companies and vending machine operators."
The new G6 e-Port comes with greater installation flexibility. It can be mounted quickly and easily on nearly all 8 million vending machines in the U.S., and the estimated 30 million vending machines worldwide. The G6 unit can be mounted in the machine's existing bill acceptor opening or mounted anywhere on the face of the vending machine. Click on the following link for a picture of the new G6: http://www.usatech.com/imgs/e-port_g6inuse.jpg.
The G6 and the entire e-Port line of products offer vending machine operators an unprecedented value proposition:
-- The only cashless vending technology on the market today with integrated magstripe and RF capability - backed by an installed base of hundreds of vending operators, in thousands of locations, conducting millions of cashless vending transactions.
-- The only cashless vending technology on the market today backed by an extensive portfolio of patents -- offering comfort to operators who are making important decisions about applying cashless vending technology to their businesses.
-- The only cashless vending technology on the market today which can be purchased in a 'one-stop-shop' manner with the USALive(R) service - the vending industry's only end-to-end network and financial services, making rollout and support of cashless vending eminently achievable for operators.
-- The only cashless vending technology on the market today which connects to multiple route management software packages - allowing operators the flexibility to choose from several alternatives in the market, or leverage existing investments in route management software and systems.
-- These features and benefits all add up to a superior product at a competitive price that cannot be matched in the marketplace.
The entire e-Port line of products will be on display at the NAMA Spring Expo in Las Vegas, NV March 23 and March 24, 2006.
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, Blackboard, and ZiLOG Corporation. For further information on USA Technologies, please visit www.usatech.com.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for its energy management products , the ability to obtain new customers and the ability to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.
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