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TheStreet Open House

New Three Year Exclusive Agreement With The Pepi Companies Substantially Expands Existing Relationship With USA Technologies

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 a new, exclusive agreement with The Pepi Companies that USAT believes exemplifies the future of integrated cashless payment, telemetry and consumer engagement services. The agreement, designed to span all aspects of Pepi’s business—from vending to micro-market, from mobile payment to cafeteria/food service point of sale—leverages Pepi’s existing cashless-enabled vending network and USAT’s new Integrated Payment Services. Integrated Payment Services, an evolution of USAT’s market-leading ePort Connect ® service, was introduced to the vending industry yesterday.

The Pepi Companies (“Pepi”), a leading food, coffee and vending service provider based out of Dothan, Alabama, was USAT’s first customer to initiate a complete conversion to cashless payment and telemetry on its vending machines, a project completed at the end of 2012. Under the new agreement, Pepi plans to substantially expand its relationship with USAT by leveraging USAT products, services and add-on integration capabilities across all of Pepi’s other business segments.

Vic Pemberton, chief executive officer and founder of The Pepi Companies, commented, “Implementing cashless on all our vending machines greatly enhanced our customer experience, but it was just the beginning for Pepi. The marketplace for a traditional vending operator is much more complex now than it was before. Many of us have micro-markets, more operators are getting into coffee services and other direct store deliveries, and others are expanding their portfolio of convenient and fresh food services. By putting this agreement together with USAT, our goal was to build an infrastructure to simplify cash flow and operations, save on rates and shrinkage and bring more value to our consumers.”

Pepi’s integrated service solution will include traditional vending, using USAT’s turnkey ePort ® and ePort Connect cashless payment and telemetry products and services. Pepi will also have the ability to integrate other third-party devices certified on USAT’s ePort Connect network. For Pepi’s micro-markets as well as their dining service point of sale, Pepi’s technology partner used QuickConnect to integrate with USAT, for streamlined payment services. In addition, for Pepi’s office coffee services and direct store deliveries, Pepi will use USAT’s ePort Mobile™ solution to integrate payments with other business segments. Finally, USAT’s loyalty and prepaid program, MORE. , will be accessible by participating consumers using any of these payment acceptance options for an enhanced consumer experience and loyalty factor—one program for all aspects.

“We had our own theme in mind when we developed this integrated services plan with USAT: ‘Simply More, Simply Better,’” said Pemberton. “’Simply Better’ is about creating a foundation that combines all of our credit and debit card processing. Everything coming down the same, integrated pipeline provides obvious efficiencies. We’ll be able to save not only in accountability, but in daily deposits and cash handling, as well as in processing rates.

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