USA Technologies Improves Ranking as Leading Global Shipper of POS Terminals
MALVERN, Pa., Sep 08, 2010 (BUSINESS WIRE) -- USA Technologies, Inc. (NASDAQ: USAT) announced today that the company has improved its ranking among the world's leading shippers of point-of-sale (POS) terminals.
The Nilson Report, a leading source of research on consumer payment systems worldwide, ranked USA Technologies 31st in the world in 2009 after finishing 34th for the previous two years. Nilson also ranked USA Technologies 6th among the leading POS shippers in the United States for the third successive year.
"Recognition of our award-winning ePort cashless payment technology, designed specifically for unattended locations, such as vending machines and kiosks, is growing alongside global giants in the industry such as VeriFone, Ingenico, Hypercom, First Data/Link Point," said Stephen P. Herbert, President and COO, USA Technologies. "We continue to be a leader in wireless, unattended, small-ticket cashless transactions, with more than 82,000 cashless devices now connected to our ePort Connect Service as of June 30, 2010."
"We believe that the global economy is still challenged, yet we believe that demand for our unique, turn-key cashless hardware and services is continuing because it offers consumers greater ease and convenience, lowers costs for operators through improved efficiencies and increases sales and revenue with an additional way to pay," Herbert continued. "Over the past 12 months we have seen our customer base grow from 525 to more than 1,000 customers--an approximate 100% increase."
USA Technologies' ePort Connect service provides the only one-stop shop for wireless, unattended cashless transactions technology, handling everything, from account set-up and management, to 24x7 customer support.
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 77 patents and has agreements with AT&T, Visa, Compass 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; 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; whether the Company's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by the Company; or whether our shares or publicly traded warrants would continue to meet the eligibility requirements for continued listing on The NASDAQ Stock Market, LLC. 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.
SOURCE: USA Technologies, Inc.
USA Technologies:
George Jensen, Chairman & CEO
Stephen P. Herbert, President & COO
sherbert@usatech.com
800-633-0340
or
Investor Relations:
Lippert/Heilshorn & Associates
Jody Burfening / Stephanie Prince
jburfening@lhai.com / sprince@lhai.com
212-828-3777
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