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TheStreet Open House

USA Technologies Takes Cashless Payment Services To New Levels With Integrated Payment Services Across The Vending Spectrum

USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today introduced its streamlined Integrated Payment Services model, USAT’s newest approach to serving the needs of today’s more complex vending businesses. As an evolution of USAT’s market leading ePort Connect® service, Integrated Payment Services extends ePort Connect across multiple aspects of a self-serve business to position operators for better business efficiencies, reduced cost and a heightened customer experience.

“Integrated Payment Services is about flexing the power of our ePort Connect service to drive even greater benefits for our customers and for USAT,” said Stephen P. Herbert, chairman and chief executive officer of USA Technologies. “Integrated Payment Service is essentially about extending the benefits of cashless that our vending customers have experienced under the ePort Connect umbrella to other areas of their business. With USAT as their single payment service provider, customers have the opportunity to realize a host of new operational benefits including reduced accounts receivable, the ability to leverage processing rates and other merchant account efficiencies.

“Another important advantage is our customers’ ability to overarch MORE. , our loyalty and prepaid program, across their business,” continued Herbert. “For our customers that manage multiple types of services within one account, we believe an integrated loyalty program that connects them all is a powerful way for our customers to earn that “wow factor” from their consumers.”

ePort Connect’s Integrated Payment Services are comprised of:

  • Traditional vending: Use of USAT’s turnkey ePort® and ePort Connect® cashless payment and telemetry and/or the ability to integrate third-party devices.
  • Micro-markets: The transfer of payment processing, through USAT’s growing list of certified micro-market technologies, to the ePort Connect service network.
  • Office coffee services and direct store deliveries: Use of USAT’s ePort Mobile™ solution to integrate payments “on the go” with other ePort Connect capabilities and operating data.
  • Dining Services: Integration of point of sale technologies, through USAT’s QuickConnect web service, to USAT’s ePort Connect service.
  • Back Office/Online Payment (in development): The ability for businesses to accept one-time credit/debit payments for goods and services online and to retain secure, encrypted customer account information for scheduled and subscription payments.
  • Loyalty: Expansion of USAT’s loyalty and prepaid program, MORE. , across the above-mentioned technologies supported by the ePort Connect service network for one, collective customer experience.

“Our vending customers are managing increasingly complex businesses that might consist of thousands of vending terminals, distribution and drop-off services, catering and dining services and micro-markets—each using a different cashless payment service provider,” said Herbert. “As our customers’ businesses have evolved to include these new sales channels, we worked to build upon the strength of our ePort Connect platform to include these new channels as well. Owners and operators can now put their entire business on our service. From a cost, efficiency and service perspective, it’s a structure that we believe brings a great deal of value to our customers.”

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