Ingenico Group and USAT partner to expand the availability of their
best-in-class cashless payment services to the unattended retail market.
ATLANTA & MALVERN, Pa--(BUSINESS WIRE)--
Ingenico Group (Euronext:FR0000125346-ING), the global leader in
seamless payment, and USA
Technologies, Inc. (NASDAQ:USAT) ("USAT"), a leading provider of
cashless and mobile payment and business optimization services for the
unattended retail market, today announced the completion of a joint
strategic Alliance Agreement. Through the Alliance Agreement, both
companies will partner to pursue the unattended retail marketplace with
a bundled solution that pairs Ingenico Group's innovative hardware,
software, security and services solutions portfolio with USAT's
comprehensive ePort Connect services platform specifically designed for
the unattended retail market.
Ingenico Group already sells its solutions in more than 170 countries.
USA Technologies currently provides cashless and mobile payments
capability, consumer engagement services and business optimization
software for nearly 1 million unattended retail locations.
Together, Ingenico Group and USAT intend to target unattended retail
connections over the term of the three-year alliance where the
collective sales and marketing teams will address the vast and growing
opportunity in the self-service retail market segment in the United
States as well as in international markets agreed upon by them.
By pairing the Ingenico Group's iUC285 device, which accepts magstripe,
EMV and NFC/contactless transactions, its software integration layer and
its service platform which enables fast deployment of acceptance
capabilities of new electronic payment means, with either the USAT G10-S
telemeter or by the Quickconnect API and channeling payments to the
powerful ePort Connect service platform, Ingenico Group and USAT bring
what they believe to be the best-of-class solution; fast, simple and
secure EMV contact and NFC contactless hardware and software paired with
the first enterprise system for unattended retail: secure cashless
payment reconciliation, superior optimization services and cutting-edge
loyalty and advertising CMS. Together, Ingenico Group and USAT bring to
the market a fully scalable, bundled solution like nothing else in
unattended retail.
"By leveraging unattended solutions, the retail businesses have a huge
opportunity to create new interactions with customers and capture
impulse purchases that previously couldn't be sustained without being
able to accept electronic payment," said Jennifer Miles, Executive Vice
President, North American region, Ingenico Group. "Ingenico Group's
secure, flexible unattended payment solutions ease integration for a
variety different business environments, and when combined with USAT's
services, make it simple for retailers to extend their brand beyond the
confines of brick-and-mortar stores."
"We are honored to partner with Ingenico Group, a global leader in
smart, secure, multi-channel payments solutions. This partnership
combines the best of USAT's enterprise payments and telemetry platform
with Ingenico Group's trusted name and global footprint for the benefit
of the entire industry," said Stephen P. Herbert, Chairman, and Chief
Executive Officer, USA Technologies. "We believe that through our
collaboration, both organizations are well-positioned to capture
additional market share, enter and proliferate in new unattended
verticals, and help unattended retail merchants benefit from the power
of IoT technology both here and abroad."
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in
seamless payment, providing smart, trusted and secure solutions to
empower commerce across all channels, in-store, online and mobile. With
the world's largest payment acceptance network, we deliver secure
payment solutions with a local, national and international scope. We are
the trusted world-class partner for financial institutions and
retailers, from small merchants to several of the world's best known
global brands. Our solutions enable merchants to simplify payment and
deliver their brand promise.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider
of integrated cashless and mobile transactions in the unattended retail
market. The company also provides a broad line of cashless acceptance
technologies including its NFC-ready ePort® G-series, ePort Mobile™ for
customers on the go, ePort® Interactive, and QuickConnect, an API Web
service for developers. Through its recent acquisition of Cantaloupe
Systems, Inc., the company also offers logistics, dynamic route
scheduling, automated pre-kitting, responsive merchandising, inventory
management, warehouse and accounting management solutions. Cantaloupe
Systems is a premier provider of cloud and mobile solutions for vending,
micro markets, and office coffee services. USA Technologies and
Cantaloupe Systems have 85 United States and foreign patents in force;
and have agreements with Verizon, Visa, Chase Paymentech and customers
such as Compass, AMI Entertainment, and others. For more information,
please 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, 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, the ability of USAT to predict customer demand for EMV
payment options offered by Ingenico Group; whether and when the combined
offering will be commercially available; whether the combined offering
would enable USAT to enter new market sectors; whether the combined
offering will be expanded into agreed upon international markets; and
the possibility that all of the expected benefits and efficiencies from
the proposed combined offering of USAT's services and Ingenico Group's
hardware will not be realized by all vending operators and on all
vending machines. 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.
Useful Links:
USA Technologies: https://usatech.com/
Twitter: https://twitter.com/usa_tech
YouTube: https://www.youtube.com/user/USATechnologies
Resource Center: https://usatech.com/resource-center/the-benefits
View source version on businesswire.com: https://www.businesswire.com/news/home/20180426005314/en/
For Ingenico Group:
Michael Nourie, +1-770-298-1945
Michael.Nourie@ingenico.com
or
For USA
Technologies, Inc.:
Media:
Maeve Duska, +1-484-868-8080
mduska@usatech.com
or
Investors:
The
Blueshirt Group
Monica Gould, +1-917-327-7590
monica@blueshirtgroup.com
Source: Ingenico Group
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