USA Technologies, Inc
. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve retailing industries, has been ranked as one of the top five shippers of point-of-sale (POS) terminals in the United States by
The Nilson Report
, a leading source of research on consumer payment systems worldwide. The 2012 rankings place USAT 5th among the leading POS shippers in the United States for calendar year 2012. On a worldwide basis, USAT moved up 6 notches from 32
for 2011 to 26
“We believe USAT’s ranking in the top five for U.S. shipments is indicative of the growing interest in cashless payment and telemetry in the markets we serve,” said Maeve McKenna Duska, vice president of marketing for USA Technologies. “We feel privileged to be ranked alongside top global players such as Ingenico, VeriFone, Equinox Payments and First Data—and, to be one of the two in the top five that showed increased volumes in the U.S. for 2012.”
is a cashless payment system that drives connections to
—a PCI-compliant, comprehensive suite of cashless payment, telemetry and consumer engagement services designed to make the transition to cashless easy to implement, manage and scale. As of September 30, 2013, customers and connections to USAT’s ePort Connect service have grown at a compound annual growth rate of 65% and 35%, respectively, over the last three years.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect
is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort
G8, ePort Mobile™ for customers on the go, and QuickConnect™, an API Web service for developers. USA Technologies has been granted 86 patents and has agreements with Verizon, Visa, Elavon, Isis and customers such as Compass, Crane, AMI Entertainment and others. Visit the website at
"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, business, financial market and economic conditions; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; the ability of USAT to compete with its competitors to obtain market share; whether USAT's customers purchase or rent ePort devices or our other products in the future at levels currently anticipated by USAT; whether USAT's customers continue to utilize USAT's transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days' notice; and the ability of a key customer to reduce or delay purchasing products from USAT. 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.