Release Details

MALVERN, Pa., Oct 22, 2010 (BUSINESS WIRE) -- USA Technologies, Inc. (NASDAQ: USAT), a leading provider of wireless, cashless, micro-transactions and networking services, has been named to Deloitte LLP's prestigious 2010 FAST 500^TM List of the Fastest Growing Companies in North America. USA Technologies ranked 23 in the Greater Philadelphia Area and 482 in North America of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies as determined by Deloitte LLP, one of the nation's leading professional services organization.

Rankings are based on the rate of revenue growth over the five years from 2005 to 2009. During that time period, USA Technologies grew revenues 157%, propelled by new product introductions, increased market share, and additional customer wins. In addition, the Company believes that significant interest in the company's comprehensive solutions for wireless unattended small-ticket cashless transactions, which are used in a variety of industries including vending, hospitality, commercial laundry and energy management, fueled this growth.

Chairman and CEO George R. Jensen, Jr., said, "We believe that our recognition as one of the fastest growing companies in North America reflects that we are in the sweet spot in the payment industry. From vending machines to Laundromats, the world is going cashless, which we believe leads to a significant revenue opportunity for USA Technologies. Our five-year revenue growth demonstrates that we are meeting this demand with solutions that provide benefits for both operators and customers of vending machines. In the most recent quarter alone, we processed a record 14 million transactions for a total of $24.5 million. The Company also recently announced that in August it hit an annual run rate of $100 million in wireless unattended small ticket cashless transactions processed on behalf of its customers."

Over the past 12 months, USA Technologies has achieved numerous financial and operating milestones:

• Achieved 82,000 device connections as of June 30, 2010. The Company expects to achieve 100,000 devices connected to its network by the end of calendar year 2010.
• Demonstrated consistent financial traction, including increases in revenue, gross margins, and gross profits as well as a movement towards positive EBITDA. The Company believes it will achieve positive EBITDA for the fiscal quarter ended December 31, 2010.
• Ranked #6 in the world and #31 worldwide by respected industry research firm Nilson Report for POS terminal shipments, an improvement of three positions from the previous year.
• Achieved new records for quarterly transactions in the fiscal first quarter ended September 30, 2010 including nearly 14 million transactions and processing volume of $24.5 million. These amounts represented increases of 89% and 68% respectively compared to the prior year's first quarter.

George Jensen added, "We believe that the numerous financial and operational milestones we have recently achieved indicate that we are executing on our opportunity in the wireless small-ticket cashless transaction marketplace. The entire USA Technologies team has worked hard to make this happen, and we are enthusiastic about our progress. We thank Deloitte for including us on the 2010 FAST 500 list, and all of our USA Technologies teammates for their role in making our success and this recognition possible."

The Deloitte Technology Fast 500 is the pre-eminent technology awards program in North America with 2010 being the sixteenth anniversary. In order to be eligible, companies must own proprietary intellectual property or proprietary technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base year operating revenues of at least $50,000 and current year operating revenues of at least $5 million, be headquartered in North America, and have been in business for a minimum of five years.

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 78 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 anticipated devices connected to our network and positive EBITDA, 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, whether or not the marketplace continues to adopt cashless transaction processing; whether or not the marketplace continues to purchase the Company's products in the future; 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 in the future; the ability of the Company to obtain widespread commercial acceptance of it products in the future; whether the Company's existing or anticipated customers purchase or lease ePort devices in the future at levels currently anticipated by the Company; or whether the Company's customers participate in the Jump Start program 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.

SOURCE: USA Technologies, Inc.

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:
Gregory FCA
Joe Hassett, Senior Vice President, 610-228-2110
joeh@gregoryfca.com

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