MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--SEVA CONVENTION 2016 -- USA Technologies, Inc. (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced the initial results of an expanded agreement with Coastal Canteen Vending and Food Services Inc. (Coastal Canteen). USAT is currently upgrading the company’s 1500 machines to its state-of-the-art cashless technology platform and telemetry services, enabling the company to track the acceptance of cash, credit/debit cards, and mobile wallet payments such as Android Pay and Apple Pay through its NFC-capable ePort Connect® cashless payment system. To date, with approximately a third of the deployment completed, Coastal Canteen is initially reporting cashless usage at 32 percent of average machine sales.
Established in 1953, Coastal Canteen Vending and Food Service is one of the largest vending service providers serving Charleston, SC and the surrounding cities. The company saw an increasing demand for cashless options, not only from consumers in general, but its own customers due to growing awareness of the increased efficiencies and the ability to drive additional sales through cashless and mobile technologies.
"Throughout our sixty-year history, we’ve built a strong reputation for providing outstanding customer service, and offering the best value through continued hard work and attention to detail,” said Donna Trego, Owner, Coastal Canteen. “As more consumers used our machines with the expectation of making a purchase using a credit card or their mobile phone, it was imperative that we met their needs. USAT is the perfect partner as the company is not only helping us upgrade the technology in our current machines, but is also providing full support from purchase to deployment as we move to 100 percent cashless. When our initial investment shows 30 percent cashless usage, we know we’ve made the right choice.”
In addition, Coastal Canteen has signed up for USAT's Premium Support Service offerings, including its model marketing program, which provide companies access to a bundle of best-in-class support services including deployment planning, project management, installation support, training, the marketing of cashless, marketing support, mobile payment and loyalty programs and funding support.
"We’re thrilled to add Coastal Canteen to our growing list of retailers choosing to offer cashless payments options on 100 percent of machines,” said Jim Turner, Vice President of Deployment Services, USA Technologies. “High cashless usage numbers on large scale deployments like these perfectly showcase how unattended retailers willing to embrace smart machine technology like ours can quickly benefit. Implementing telemetry, cashless and NFC enabled payments not only could lead to more purchases by consumers, but improves business processes and increases efficiencies.”
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About USAT’s Premium Support Service:
USAT’s Premium Support Service bundles USAT’s best-in-class services to ensure the most effective deployments of USAT’s cashless technology through cohesive planning that maximizes returns. Services include USAT’s Model Market program for planning, project management, installation support, and marketing support; integration of deployment planning, installation and performance optimization; access to USAT’s flagship Knowledge Base data; profitability calculation; and customized reporting in support of deployment, inventory and DEX project management. USAT’s Premium Support Service is available to customers that have made a commitment to connect a significant portion of their locations to USAT's service.
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.
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 78 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.
"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 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 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, the ability of USAT to predict future market conditions and consumer behavior; the ability of USAT to operate without infringing or violating the intellectual property rights of others; and whether the ePort Interactive platform will encourage consumer loyalty and/or drive recurring or incremental sales. 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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