MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ: USAT), ("USAT"), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, announced today that it has been ranked as a top 10 largest shipper of point-of-sale (POS) terminals in the United States for the calendar year 2018 by The Nilson Report, a leading source of news and analysis of the global card and mobile payment industry.
USAT's POS device, the ePort®, is a cashless payment system that drives connections to ePort Connect ®--a complete suite of PCI-compliant cashless payment, telemetry, and value-added services for the self-serve retail market which includes kiosks, vending machines, micro-markets and more. With built-in NFC capabilities, the service platform handles all card processing and settlement for clients. USAT also provides an advanced, cloud-based interactive media and content delivery management system, called ePort Interactive®, which takes care of the delivery of remote refunds and enables marketing campaigns.
"We are proud to be ranked alongside top global players like Ingenico, VeriFone, and First Data in terms of U.S. POS terminal shipments,” said Stephen P. Herbert, CEO of USA Technologies. “We believe that this top ranking speaks to the industry’s continued evolution toward cashless technology at point of sale, driven by consumer expectations to be able to pay with whatever payment method is most comfortable for them. Growth in adoption of cashless technology is continuing to enhance self-serve markets such as vending, amusement and kiosk which have been historically cash-based, and opening up new opportunities for operators to streamline efficiencies and increase sales and repeat visits.”
The news comes on the heels of USA Technologies’ recent announcement that it had added 3,169 new customers to its ePort Connect payment network in fiscal 2019, bringing total connections to the Company’s service to nearly 1.2 million. The company was also recently recognized by Retail CIO Outlook as a Top Ten Retail Kiosk Service Provider for helping retail clients make the transition to cashless payments and telemetry.
About USA Technologies, Inc.
USA Technologies, Inc. is a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market. With more than one million connections worldwide, USAT is transforming the unattended retail community by offering one solution for payments processing, logistics, and back-office management solutions. The company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and their inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, car charging stations, laundromats, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.
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“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; and the possibility that all of the expected benefits and efficiencies from cashless payment services, including opportunities for increases in sales, will not be realized by all vending operators and on all vending machines or within the expected time period. 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.