Release Details

Transactions processed up 81%, Dollar Volume up 71% from a Year Ago

MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (NASDAQ: USAT), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve retail industries, today announced that for the month of August 2011, the Company's ePort Connect® Service processed a new high of 8.4 million transactions representing $14.1 million in small-ticket transactions, increases of 81% and 71%, respectively, compared to August 2010. The Company also reported that on September 6, 2011, it set a single day record by processing 375,000 transactions. These latest milestones put the Company on an annualized run rate of approximately $170 million in processing volume.

"Activity levels in August continue at a record pace with a sequential increase from July's processing activity of 7.8 million transactions and $13.4 million in small ticket transactions," said George Jensen, Chairman and CEO of USA Technologies. "USA Technologies' ePort Connect Service operates on a scalable and flexible platform which is capable of processing increased numbers of transactions at a low incremental cost. Our unique, one-stop service continues to deliver superior performance to our customers. Combine all of this with the low up-front capital cost available through our JumpStart program, and it becomes clear why USA Technologies offers the solution of choice for the small-ticket, unattended cashless payments space."

The ePort Connect Service is a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of self-service, small ticket retail industries. ePort Connect enables self-service terminals, such as vending machines and kiosks, to accept credit, debit, new contactless cards and other cashless forms of payment, handles all elements of transaction processing, and allows customers to monitor and manage their terminals online - all with the highest level of data security.

The Company recently announced that it had added approximately 4,000 new connections during July 2011 and added 105 new customers to its ePort Connect Service bringing the totals to 123,000 connections and 2,079 customers, and making this the fastest start to a fiscal year for the Company in three years.

Pursuant to its processing agreements with its customers, the Company earns transaction processing fees equal to a percentage of the dollar volume processed by the Company, which fees are included as licensing and transaction processing revenues in its Consolidated Statements of Operations. The Company's transaction processing volume is not indicative of the gross profit from license and transaction fees.

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 been granted 79 patents and has agreements with Verizon, Visa, Compass, Crane and others. Visit our 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 financial position, anticipated connections to our network, business strategy and the plans and objectives of the Company'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 the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company'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, including but not limited to, the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; whether the Company's customers continue to operate or commence operating ePorts received under the JumpStart program or otherwise at levels currently anticipated by the Company; the ability of the Company to compete with its competitors to obtain market share; the ability of the Company to obtain widespread commercial acceptance of it products; and whether the Company's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by the Company. 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, the Company 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.

USA Technologies, Inc.
Investor Contact:
Gregory FCA
Joe Hassett
Senior Vice President
610-228-2110
joeh@gregcomm.com
or
Press Contact:
Gregory FCA
Katie Nicolai
Account Executive
610-228-2128
katien@gregcomm.com

Source: USA Technologies, Inc.

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