ATLANTA & MALVERN, Pa--(BUSINESS WIRE)--Ingenico Group (Euronext:FR0000125346-ING), the global leader in seamless payment, and USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a leading provider of cashless and mobile payment and business optimization services for the unattended retail market, today announced the completion of a joint strategic Alliance Agreement. Through the Alliance Agreement, both companies will partner to pursue the unattended retail marketplace with a bundled solution that pairs Ingenico Group’s innovative hardware, software, security and services solutions portfolio with USAT’s comprehensive ePort Connect services platform specifically designed for the unattended retail market.
Ingenico Group already sells its solutions in more than 170 countries. USA Technologies currently provides cashless and mobile payments capability, consumer engagement services and business optimization software for nearly 1 million unattended retail locations.
Together, Ingenico Group and USAT intend to target unattended retail connections over the term of the three-year alliance where the collective sales and marketing teams will address the vast and growing opportunity in the self-service retail market segment in the United States as well as in international markets agreed upon by them.
By pairing the Ingenico Group's iUC285 device, which accepts magstripe, EMV and NFC/contactless transactions, its software integration layer and its service platform which enables fast deployment of acceptance capabilities of new electronic payment means, with either the USAT G10-S telemeter or by the Quickconnect API and channeling payments to the powerful ePort Connect service platform, Ingenico Group and USAT bring what they believe to be the best-of-class solution; fast, simple and secure EMV contact and NFC contactless hardware and software paired with the first enterprise system for unattended retail: secure cashless payment reconciliation, superior optimization services and cutting-edge loyalty and advertising CMS. Together, Ingenico Group and USAT bring to the market a fully scalable, bundled solution like nothing else in unattended retail.
“By leveraging unattended solutions, the retail businesses have a huge opportunity to create new interactions with customers and capture impulse purchases that previously couldn’t be sustained without being able to accept electronic payment,” said Jennifer Miles, Executive Vice President, North American region, Ingenico Group. “Ingenico Group's secure, flexible unattended payment solutions ease integration for a variety different business environments, and when combined with USAT’s services, make it simple for retailers to extend their brand beyond the confines of brick-and-mortar stores.”
"We are honored to partner with Ingenico Group, a global leader in smart, secure, multi-channel payments solutions. This partnership combines the best of USAT's enterprise payments and telemetry platform with Ingenico Group’s trusted name and global footprint for the benefit of the entire industry,” said Stephen P. Herbert, Chairman, and Chief Executive Officer, USA Technologies. “We believe that through our collaboration, both organizations are well-positioned to capture additional market share, enter and proliferate in new unattended verticals, and help unattended retail merchants benefit from the power of IoT technology both here and abroad."
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels, in-store, online and mobile. With the world's largest payment acceptance network, we deliver secure payment solutions with a local, national and international scope. We are the trusted world-class partner for financial institutions and retailers, from small merchants to several of the world's best known global brands. Our solutions enable merchants to simplify payment and deliver their brand promise.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the unattended 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. Through its recent acquisition of Cantaloupe Systems, Inc., the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management solutions. Cantaloupe Systems is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services. USA Technologies and Cantaloupe Systems have 85 United States and foreign patents in force; and have 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 customer demand for EMV payment options offered by Ingenico Group; whether and when the combined offering will be commercially available; whether the combined offering would enable USAT to enter new market sectors; whether the combined offering will be expanded into agreed upon international markets; and the possibility that all of the expected benefits and efficiencies from the proposed combined offering of USAT's services and Ingenico Group's hardware will not be realized by all vending operators and on all vending machines. 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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