This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

USA Technologies Adds Eight More To List Of Exclusive Customers In Its Fourth Fiscal Quarter

USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced eight additional exclusive ePort Connect® service agreements with existing vending customers, adding to the three new exclusive agreements already announced for the fourth quarter ending June 30, 2013 and the exclusive agreements already entered into in Fiscal 2013.

“We believe this latest set of exclusive agreements, which includes one of largest independent vending companies serving the California market and a global organization that is one of the top foodservice management companies in the United States, supports the value our customers place in working with a reliable and proven partner like USAT that can help them scale their business for cashless payment, telemetry and new consumer engagement services in the years ahead,” said Michael K. Lawlor, senior vice president of sales and business development for USAT.

USAT believes that its existing customer base that includes vending, kiosk, amusement & gaming, laundry and other small-ticket, unattended businesses represents over 2.5 million potential connections as these industries transition to cashless payment. As of March 31, 2013, USAT had expanded its customer base from 950 customers three years ago to 4,525 customers, a compound annual growth rate of 68 percent.

“With less than 10 percent cashless penetration in the vending market, based on a recent survey of approximately 5.3 million vending machines in Automatic Merchandiser’s 2013 State of the Vending Industry Report, there is a tremendous opportunity to change the dynamics in that industry,” continued Lawlor. “We believe our customers are recognizing that cashless payment not only enables them to reconnect with the growing population of consumers who no longer carry cash and coin, but it’s becoming a necessity to win and retain most accounts. An exclusive standing with USAT provides these exclusive customers with an edge they value as their needs grow and as USAT’s product and service portfolio continues to expand.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs