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, announced today that it has inked a new five-year, strategic agreement for its ePort Connect® suite of cashless payment solutions and services with Wilmore Snack Sales, Inc.—a Canteen franchise located near Shreveport, La. This marks the latest of a growing roster of USAT customers connecting 100 percent of their machines to the ePort Connect Service. The agreement provides for the purchase of 2,000 new ePort devices, which are expected to be deployed during the Company’s current fiscal year, and includes hardware, deployment support, co-marketing and installation assistance.
“We’ve always believed that adding credit and debit card capabilities to our vending machines would increase sales and margins, and we knew we had to ramp deployment faster in order to capture the upside on every machine,” said Jimmy Wilmore, owner or Wilmore Snack Sales, Inc. “Many consumers don’t carry cash, and there is only so much you can do to improve margins by improving efficiencies. The real upside is in capturing new business. We chose USA Technologies as our long-term partner because we believe they offer us the best service and support in the market.”
The addition of Wilmore Snack Sales broadens USAT’s footprint in the South Region. It also expands the Company’s strong relationship with Canteen already well represented by respected customers such as M&M Sales Company, The Pepi Companies, Southern Refreshments and Five Star Food Services.
“Wilmore Snack Sales is one of the South’s premier vending providers. Its selection of USA Technologies underscores how hard we have worked to provide the best technology available for our customers to go cashless,” said Maeve McKenna Duska, senior vice president of Marketing. “We believe our comprehensive solution, in conjunction with our data-based performance optimization and marketing support, is resulting in some of the best performing machines in the unattended market. That's a win for our customers, and a win for us.”
USAT believes that this news underscores the industry’s continued momentum toward cashless on the heels of the company’s recent announcement of the addition of 31,000 net new connections to its ePort service and 675 new customers in Q4 of FY 2015. The company had 333,000 machines connected through its ePort Connect Service as of June 30, 2015, an increase of 25 percent from June 30, 2014. USAT believes the increase in strategic agreements such as the one with Wilmore Snack Sales represents another inflection point in the adoption of cashless.
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or email@example.com.
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 is a leader of wireless, cashless payment and M2M telemetry 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 MobileTM 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, 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; the possibility that a customer would fail to or delay deploying cashless technologies in all of their point of sale locations; the extent to which the increase in total sales experienced by Wilmore Snack Sales is predictive of future market conditions, customer and consumer behavior, and cashless sales across all of USAT's customer locations; the possibility that all of the expected benefits from adoption of cashless payment will not be realized by all vending operators, or will not be realized within the expected time period; whether, and to what extent, marketing support provided by the Company have resulted in, and will result in, increased sales for customers; and the ability of USAT to accurately predict future market conditions and customer behavior. 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.