MALVERN, Pa.--(BUSINESS WIRE)--
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 large-scale roll out
with Five Star Food Service. Five Star Food Service is a full-service
vending and micro-markets, office refreshment services and corporate
dining company. They are also the largest Canteen franchisee in the
United States.
USAT and Five Star Food Service completed the installation of an initial
3,000 ePorts, and the companies have been working together on a
continued, rolling installation schedule for an additional 3,000 ePorts
over the next few months for a total of 6,000.
"Five Star was an early adopter of cashless payments technology. We
partnered with USA Technologies because of their leadership in the
market, and their ability to assist us with deployment planning and
performance reporting to ensure we were getting the most from our
investment," said Alan Recher, President and CEO of Five Star Food
Services. "We realized that, in order to capture every sale, increase
margins and effectively compete in today's cashless world, we needed to
accelerate our deployment and move forward quickly to install ePorts on
more of our machines. USAT has been guiding and supporting us every step
of the way, and we are already seeing great results."
Analysis of the first three months, post-installation, shows that Five
Star Food Service is already logging a 17% year-over-year increase in
top line sales - both cash and cashless - on the approximately 2,500
machines that were recently connected to the ePort Connect Service.
"Five Star Food Service is following what we believe to be the typical
trajectory for increased sales following ePort installation," said Jim
Turner, VP Deployment Planning, USA Technologies, "and we anticipate
that the 17% increase in top-line sales will improve over time. As more
consumers become aware of the ability to use their credit or debit
cards, we expect sales will increase, consumers will begin buying more
and more often, and new consumers will be drawn in by speed, convenience
and more payment options. It's a win-win."
"USA Technologies has been able to give us the support we needed every
step of the way, from installation services, to marketing
communications, to consumer research. We are continually impressed by
USA Technologies' service, their support and their knowledge of the
industry," concluded Recher. "And with the ability for USAT to process
payments and offer loyalty
programs across our growing base of micro-markets,
online and mobile payments, and dining services in addition to
accepting mobile wallets like Apple Pay, Softcard and others, we know
that we have made an investment in a service partner that will keep us
ahead of the curve and continue to help us streamline and grow."
USA Technologies believes that large-scale deployments like this one is
another indicator that the vending industry is at an inflection point
related to the implementation of cashless. "Five Star's commitment to
improving their consumers' experience as well as increasing sales and
revenue by implementing USAT's cashless payments service on a broad
basis, quickly, is a great example of a market leader that has taken an
assertive position on cashless," said Stephen P. Herbert, CEO and
Chairman, USA Technologies. "We are proud to have earned the trust and
continued business of an industry-leader and valued partner like Five
Star."
USA Technologies recently announced that it added 10,000 new connections
and 600 customers to its ePort Connect Service in the first quarter of
its FY 2015, for a total of 276,000 connections and 7,900 customers to
date.
About USA Technologies, Inc.:
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, 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 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 use available
data to accurately predict future market conditions and customer
behavior; the possibility that all of the expected benefits from
adoption of cashless payment and installation of ePorts, including
increased sales, will not be realized by all vending operators, or will
not be realized to the extent predicted and/or within the expected time
period; and whether, and to what extent, new innovations in mobile
payment technologies will result in increased sales. 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.
G-USAT
LHA for USA Technologies, Inc.
Stephanie Prince/Jody Burfening,
212-838-3777
sprince@lhai.com
Source: USA Technologies, Inc.
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