USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, marked 48 percent growth in its ePort Connect® customer base, to over 6,075 customers as of December 31, 2013 compared to one year prior, by highlighting customers, J&J Vending and Tomdra Vending and Coffee Service (“Tomdra”), for their recognition of cashless as a strategic platform for improving financial performance and customer satisfaction.
“J&J Vending and Tomdra are great examples of how USAT is bringing valuable data and deployment strategies to its customers through a comprehensive cashless payment program that helps them transition to cashless payment effectively,” said Stephen P. Herbert, USAT’s chairman and chief executive officer. “In a cashless environment, consumers come to these machines every day and provide us with valuable information about their buying and purchasing preferences—advantageous information that we believe can be used to drive improved customer satisfaction and new sales. One of our goals is to ensure our customers participate in that knowledge and enjoy the multiple benefits that a cashless payment platform can provide their business."
J&J Vending, a full-line vending and office coffee operator serving the San Francisco Bay area, has indicated that they are moving forward to install cashless on one-third of their approximately 1,200 machine base.
“USAT has been educating us on the benefits for quite a while now, but the data from our initial cashless installation really enlightened us,” said Joel Skidmore, president and CEO of J&J Vending. “Both cash and cashless sales increased and profitability of our machines increased. I had to ask myself why I hadn’t been doing this before.“From a customer perspective, they love it,” continued Skidmore. “We realized that by not having credit card options, we were losing a whole set of customers. I was recently visiting a coffee customer and noticed an employee going from person to person in the break room asking for change—I realized I had just lost a sale. Now we are sold on cashless, and I love the fact that we can enhance our bottom-line even further by utilizing other service options USAT offers. Going cashless is definitely a priority for us now."