MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced that during its third fiscal quarter, which ended March 31, 2017, the company crossed its goal of 500,000 connections to its ePort® Connect service.
Three years ago the company set its sights on an aggressive goal to reach this objective by accelerating adoption, building critical mass for the business and firmly maintaining its leadership position in the unattended and self-serve retail markets. Concurrently, the payments industry has seen an increase in the acceptance of credit cards, mobile and contactless payments, which in turn has led to a significant uptick in the adoption of the USAT ePort® Connect platform.
“In order to reach this milestone we executed on a strategy that focused on enhancing our customers' operations by delivering better value to, and improved performance from, each connection. In turn we were able to drive new customer connections and widen our footprint within the existing customer base,” said Stephen P. Herbert, Chairman and Chief Executive Officer, USA Technologies. “We have developed what we believe to be a powerful, connected platform that in many cases acts as the gateway tap to mobile wallet use. We are grateful to our customers who have put their trust in our products and services and worked with us to modernize and transform an entire industry. We look forward to the future as we continue to execute our strategy and grow shareholder value.”
USAT is empowering the self-serve and unattended retail industries to meet growing consumer demand for cashless payments with the most advanced interactive media, content delivery system in the market. In addition, it is providing new consumer engagement services through USAT’s MORE™ and Premier Services programs. The company is helping drive the next phase of mobile and cashless payments that move beyond a simple transaction to leverage payment information, therefore engaging with the consumer in the moment, at point-of-sale, driving increased and recurring revenue.
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About ePort Connect®:
USAT's ePort Connect service is a PCI-compliant suite of cashless payment and telemetry services specially tailored to fit the needs of self-serve retail industries. Designed to be a "one-stop shop," services offered through ePort Connect include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24 x 7 customer service and a host of value-added services, including mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.
About USA Technologies:
USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile™ for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers. USA Technologies has 77 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. For more information, please visit the website at www.usatech.com.