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 that it recently celebrated its 5,000th customer milestone with New York vending operator and Pepsi bottler, Fitzgerald Brothers Beverages, Inc. (“Fitzgerald Brothers”). Crossing the 5,000 customer mark translates to a compound annual growth rate of 69 percent for USAT, from approximately 1,000 customers three years ago.
Fitzgerald Brothers recently became a USAT customer in response to increasing demand for debit/credit card acceptance by its consumers and encouraging data regarding the sales uplift a cashless payment platform can deliver to traditionally cash-only businesses. As USAT’s 5000 th customer, Fitzgerald Brothers will receive a free personalized loyalty and prepaid program, a new addition to USAT’s ePort Connect® solutions suite that enables customers to build on their cashless payment platforms to differentiate and expand their brand.
“Fitzgerald Brothers is delighted to be part of USAT’s growth history as their 5,000 th customer,” said Fitzgerald Brothers’ vending sales manager, Curt Kingsley. “Until recently, we had remained on the sidelines regarding cashless adoption. We now view cashless as a competitive tool and open-ended opportunity to drive future growth. The data regarding potential sales uplift is compelling and more importantly, our customers are asking for it.
“In selecting a cashless partner, we have always recognized USAT’s leadership role and vision for this industry,” continued Kingsley. “And with our busy schedules, we appreciate USAT’s one-stop shop—from hardware to gateway to website to support. Our USAT sales rep also helped us understand the potential benefits of a cashless payment platform, down to the multiple channels that we serve.“The ability to fast-track to a personalized loyalty and prepaid program as a result of this award is an added boost. The more we can raise consumer awareness and excitement for cashless, the greater the upside, in our view. We are truly appreciative of this customer recognition award and extend our heartiest congratulations to USAT,” said Kingsley.