Shareholders Re-Elect Board of Director Nominees

MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a leader of wireless, cashless payment and M2M/IoT solutions for small-ticket, self-serve retailing industries, today announced the results of its Annual Meeting of Shareholders, held earlier today.

At the meeting:

• all USA Technologies' directors nominees (Steven D. Barnhart, Joel Brooks, Stephen P. Herbert, Albin F. Moschner, William J. Reilly, Jr., and William J. Schoch) were re-elected for an annual term;
• USA Technologies' 2015 Equity Incentive Plan was approved;
• USA Technologies' advisory vote on named executive officer compensation was approved; and
• the appointment of McGladrey LLP as the independent registered public accounting firm of USA Technologies for fiscal year ending June 30, 2015 was ratified.

In addition, USA Technologies' Chairman and Chief Executive Officer, Stephen P. Herbert, provided an overview of the company's key milestones, growth strategy and financial progress. Specifically, he highlighted that USAT reached a milestone of 302,000 connections to the ePort Connect service during the third quarter of fiscal year 2015, has established significant relationships with Apple Pay, Android Pay, Chase Paymentech, MasterCard and Visa, and he discussed the early success of the QuickStart lease program. Mr. Herbert noted the company's strategic priorities to accelerate adoption with its existing customer base, build on new partnerships in adjacent markets, and the company's strengthened financial performance, including the expectation of sustainable Non-GAAP net income and the improving cash flow profile.

Interested parties may view the slide presentation online by visiting the Investor Relations section of USA Technologies' website under Events and Presentations.

About USA Technologies

USA Technologies is a leader of wireless, cashless payment and M2M/IoT 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, Chase Paymentech, Visa, MasterCard, and customers such as Compass 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 USA Technologies or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of USA Technologies' management, as well as assumptions made by and information currently available to USA Technologies' 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 management to accurately predict or forecast future earnings, cash flow or net income of USAT; the incurrence by us of any unanticipated or unusual non-operational expenses which would require us to divert our cash resources from achieving our business plan; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; 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 obtain widespread commercial acceptance of it products; the ability to prevent a security breach of our systems or services or third party services or systems utilized by us; whether any patents issued to USAT will provide USAT with any competitive advantages or adequate protection for its products, or would be challenged, invalidated or circumvented by others; the ability of USAT to operate without infringing the proprietary rights of others; whether USAT would be able to sell sufficient ePort hardware to third party leasing companies as part of the QuickStart program in order to significantly reduce cash flows from operations; and whether USAT's existing or anticipated customers purchase, rent or utilize ePort devices or our other products or services in the future at levels currently anticipated by USAT. 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

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Source: USA Technologies, Inc.

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