MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT), a leader of wireless, cashless payment and M2M/IoT solutions for small-ticket, self-serve retailing industries, today announced an exclusive market agreement with M&M Sales Company, a Canteen franchise with locations in Lafayette, Houma and the Lake Charles area of Louisiana. Through the agreement, USAT would connect 100% of all of M&M’s vending, self-service, single cup coffee and rapidly growing micro-market locations that are not already connected to USAT’s ePort Connect service. The Service provides state-of-the-art cashless and telemetry services that enable and track the acceptance of cash, credit/debit card, and mobile wallet payments such as Google Wallet and Apple Pay through its NFC-capable ePort Connect cashless payment system. The Companies believe the goal of achieving a 100% connected machine base will give M&M a clear advantage over their competition—just another example of the forward-thinking business philosophy that has made them successful for the past 40 years.
In addition, as part of the agreement, M&M is able to participate in USAT's unique MORE.™ customer engagement and loyalty program which is designed to incentivize, reward and retain consumers through pro-active marketing, awareness and rewards.
A third-generation family business, M&M Sales Company operates 25 full-service vending routes servicing approximately 4,000 vending machines and single-cup coffee brewers as well as a growing number of micro-market locations. Building on its more than five-year relationship with USAT, the company plans to equip all of its point-of-sale locations with the ePort Connect system, featuring mobile payment technology, within the next five years to achieve 100 percent wireless connectivity and cashless payment capabilities.
“Our partnership with M&M Sales Company is a great example of how smart, forward-thinking companies that service a wide variety of consumer profiles are evolving to adopt cashless and mobile payment technology,” said Steve Herbert, Chairman and CEO, USA Technologies. “Cashless and mobile payments are no longer the ‘future,’ they are the ‘now.’ We look forward to partnering with M&M in the planning and deployment of ePort Connect and collaborating on marketing initiatives which we believe would bring more value to their customer base, increase efficiencies and drive additional sales and participation across the board.”
“For forty years we have prided ourselves on offering the best customer service, technical expertise, and most progressive product portfolio in the market,” said Chuck McMath, President, M&M Sales Company. “Integrating USAT’s ePort technology is a natural progression for us. Today’s customers prefer to pay with their card or mobile wallet, and we believe USAT’s end-to-end solution will not only enhance consumer experience, but improve our economics. USA Technologies is the leader in the market and our natural choice. They have been able to guide our deployment process, support our installation and partner on marketing, consumer education and awareness. No one else in the industry offers this kind of experience and support.”
This five-year exclusive agreement also provides for joint marketing initiatives designed to elevate the awareness of M&M in their region as well as increase awareness of cashless capabilities, which we believe would further increase sales and participation at ePort-equipped locations.
M&M’s integrated service solution would offer customers a portfolio that includes traditional vending, single cup coffee brewers and the innovative Avenue C Micromarket solutions all equipped with USAT's turnkey ePort® and ePort Connect cashless payment and telemetry products. The strategic relationship enables M&M to quickly and safely accept credit, debit and mobile payments such as Apple Pay, Google Wallet, Samsung Pay and all other NFC payment devices, while implementing USAT's ePort Mobile™ and ePort Online solutions to integrate payments, loyalty programs and consumer experience enhancements across all of their evolving business segments.
USA Technologies: https://usatech.com/
M&M Sales Company:http://www.louisianacanteen.com/
Resource Center: https://usatech.com/resource-center/the-benefits
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About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M/IoT 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, MasterCard, Chase Paymentech, and customers such as Compass 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, 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 M&M would achieve connectivity to the ePort Connect service for all of its point of sale locations; whether, and to what extent, USAT's ePort Connect service and the marketing initiatives would help M&M to achieve increased efficiencies and value to their customer base and drive additional sales and participation; the extent to which the Strategic Market Agreement with M&M would help increase sales and participation at M&M’s ePort-equipped locations; and the possibility that all of the expected benefits from adoption of USAT's ePort Connect service will not be realized by all customers. 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.