Record Growth Ranks USA Technologies#6 in US, #26 Globally for POS Terminal Shipments in 2007
MALVERN, Pa., Oct 24, 2008 (BUSINESS WIRE) -- The Nilson Report, the leading source of news and research on consumer payment systems worldwide, has ranked USA Technologies (NASDAQ:USAT) sixth in terminal shipments in the United States, and 26th worldwide in a front-page report.
The October 2008 Nilson Report states that USA Technologies shipped 26,690 ePort cashless payment terminals in 2007, representing a 328 percent increase from 2006.
"Recognition of our performance alongside global giants VeriPhone, First Data and Motorola, further confirms the growing adoption and success of our ePort cashless payment solutions," said George R. Jensen, Chairman and CEO, USA Technologies. "USA Technologies is now an established global leader in providing value-add, innovative solutions that are driving new business in the vending, kiosk and unattended point-of-sale markets."
"In today's challenging business environment, USA Technologies is developing industry-leading solutions that are fulfilling critical market needs -- adding consumer convenience, lowering cost, improving efficiency, whilefuelling business growth," said Mr. Jensen. "USA Technologies has experienced four successive record revenue quarters over the past 12 months, and we are seeing growing customer interest in our solutions from the U.S. market and abroad," he said.
The ePort solution offers cashless payment options, from traditional magnetic stripe, to wireless contactless tap-and-go credit/debit cards, pre-paid solutions, and NFC payment using a cellular phone.
USA Technologies received increased interest following the launch last week of two new ePort Terminals, both at lower prices -- the multi-purpose ePort G8 that accepts all forms of payment, and the budget priced ePort Edge for magnetic swipe cards only.
To see the Nilson Report article in its entirety, visit our website. www.usatech.com
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has agreements with AT&T, Honeywell, Blackboard, MasterCard and others. For further information on USA Technologies, please visit www.usatech.com
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable; validity of intellectual property and patents of USA, the ability of USA to license its patents, the ability of USA to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements.
SOURCE: USA Technologies
USA Technologies Contact: George Jensen, Chairman & CEO 800-633-0340 or Stephen P. Herbert, President & COO 800-633-0340 sherbert@usatech.com or Investor Relations Contact: Porter, LeVay & Rose Jeffery Myhue Marlon Nurse 212-564-4700
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