MALVERN, Pa. & CHATTANOOGA, Tenn.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced a landmark strategic agreement with Five Star Food Service, a progressive full-service vending, micro markets, office refreshment services and corporate dining company that has grown to one of the largest privately held operators in the United States. The strategic deployment of USAT’s technology across Five Star’s markets is actively leveraging USAT’s Premium Services program for rapid deployment that optimizes operational efficiencies and creates a tailored cashless payment and engagement program.
“At Five Star Food Service, we pride ourselves on our ability to recognize the potential in trends like cashless payments and advertising for the unattended space. We continue to see USAT as a key partner because of their track record of helping increase the Net Operating Profit of our operation through analysis of the existing installed base,” said Alan Recher, President and CEO, Five Star Food Service. “We leverage their thought leadership, knowledge of the industry, and commitment to identifying opportunities to keep us ahead of the curve and help us streamline and grow. We are continually impressed by the support provided, from deployment planning to installation services, marketing communications, and consumer research. It’s a true strategic partnership.”
Both companies share a truly strategic vision, with the closely aligned goals of delivering a superior customer experience and service through innovative technologies. In strengthening its partnership with USAT, Five Star Food Service is committing to connect nearly 9,000 of the state-of-the-art ePort® Interactive devices to the ePort Connect service, enabling the company to track the acceptance of cash, credit/debit cards, and contactless payments, including mobile wallet payments such as Apple Pay and Android Pay. In addition, Five Star will be able to leverage all the capabilities provided by the new technology, including digital advertising, premier loyalty rewards programs and nutritional information, via the ePort Connect® platform.
More and more often, consumers are looking for easier, better, faster, service and now, based on consumer demand, operations often require the ability to provide information about their healthier alternatives. USAT’s ePort Interactive allows Five Star to be more effective and efficient in customizing best in class health and wellness programs for their customers. The Interactive devices allow for the promotion of corporate health and wellness initiatives via advertising campaigns and provide additional opportunities for consumer education about nutrition at the point of sale.
“The interactive screens are an important part of our overall digital strategy,” said Greg McCall, senior vice president of Sales and Marketing, Five Star Foods. “This new technology enables us to take a retail mindset and apply a retail strategy for vending. Five Star was quick to replace vending machines with micro markets, but this changes all that, giving the machines all the benefits of micro markets - from the display screens to ads – without the added cost. It will allow us to drive promotions and advertising directly to our consumer base. We strongly believe that a digital marketing platform in vending will grow same store sales.”
“The unattended and self-serve retail markets are leading the way in terms of cashless payments, loyalty and convenience,” said Stephen P. Herbert, Chairman and Chief Executive Officer, USA Technologies. “USA Technologies is committed to helping companies like Five Star Food Service transition to technology that fully leverages the convergence of mobile wallets, loyalty and product information. The increasing adoption of mobile wallet technology provides our customers with many possibilities for consumer engagement, where there was none before, and, in turn, has the potential to create additional revenue for operators and brands alike. We are honored to work with Five Star Food Service on this flagship project, they are clear leaders in the industry, with a long track record of charting the future for the industry.”
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About ePort Interactive:
The ePort® Interactive is the industry's most advanced cloud-based interactive media and content delivery management system. It enables the delivery of nutritional information, remote refunds, loyalty programs, and robust, multimedia-marketing campaigns for the unattended and self-serve retail markets. The platform offers PCI DSS compliant security, and supports traditional magnetic stripe credit and debit cards, as well as NFC (Mobile Wallet) payments including Apple Pay and Android Pay.
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 Five Star Food Service
Five Star Food Service, based in Chattanooga, TN, is the Southeast’s premier on-site food and beverage solution provider to employers and other commercial, institutional, and educational locations. Five Star is a leader in micro-markets, full-service vending, coffee services, full-service dining, and catering across Tennessee, Georgia, and Alabama. Founded in 1993, Five Star Food Service has grown to one of the largest privately held operators in the United States and is a franchise of Canteen Vending. For more information visit www.fivestar-food.com.
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® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE., a customizable loyalty program. USA Technologies has 77 United States and foreign patents in force; and has agreements in place with AMI Entertainment, Apple, Chase Paymentech, Compass, MasterCard, Verizon, Visa and many 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 possibility that all of the expected benefits and efficiencies from the use of the ePort Interactive will not be realized by all vending operators and on all vending machines, or within the expected time period; whether, and the extent to which digital marketing platforms would increase sales for its 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.