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 achieved a record approximately 22,000 new connections to its “one-stop” ePort Connect® service, offset by 2,000 deactivations, for approximately 20,000 net connections for its third fiscal quarter ended March 31, 2014. As of March 31, total connections to USAT’s ePort Connect service totaled approximately 244,000.
“Our net connections for the third quarter were double that of the third quarter of last fiscal year, a positive indicator, we believe, that cashless adoption is gaining increased traction in self-serve retail, particularly in vending,” said Stephen P. Herbert, chairman and chief executive officer of USAT. “At the NAMA OneShow this week, we are continuing to work with existing customers and the many vending operators who are now recognizing that cashless is a competitive necessity in today’s environment. Our consultative sessions at the Show are in high demand and are designed to help customers make the best cashless decisions for their business. Those options might include initial implementation planning or new offerings such as loyalty and micro-market integration that can further differentiate their brand. In all, we are very pleased,” said Herbert.
USAT can be found at Booth #763 at the NAMA OneShow, McCormick Place, LakeSide Center in Chicago through April 11, 2014.
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® G-series, ePort Mobile™ for customers on the go, and QuickConnect, an API Web service for developers. USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, Elavon and customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com. Forward-looking Statements: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release 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 the 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 compete with its competitors to obtain market share; 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; the ability of USAT to accurately predict future market conditions and customer behavior; and whether customers will increase their purchases of USAT’s products and services in the future. 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.
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