NEW ORLEANS--(BUSINESS WIRE)--Nov. 15, 2018--
Today, USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a premier digital
payment, consumer engagement and logistics service provider for the
self-service retail market, announced it successfully demonstrated
USAT's end-to-end enterprise software during NAMA’s Coffee, Tea and
Water Show (CTW) in New OrleansNovember 12-14. CTW is the world’s
largest coffee services event and aims to deliver insight into the
workplace by showcasing new technologies and industry trends that are
impacting business and driving change in U.S. coffee services, which
NAMA estimates to be a $4.25 billion industry.
With nearly a million connections to its state-of-the-art ePort Connect
payment platform, USA Technologies offers what it believes to be the
industry’s first true integrated end-to-end enterprise platform for the
unattended retail market, designed not only to increase sales by
bringing digital payment options to unattended retail locations
including coffee services, but also to decrease operational costs by
giving customers the ability to run their businesses in a more efficient
and competitive way.
USA Technologies highlighted its Seed
Delivery software, which enables OCS operators to replace
paper-based invoices with iPads, postage with email, and phone ordering
with self-service Web ordering. For operators with both vending and OCS
businesses, Seed Delivery is available as an add-on to Seed Office, USA
Technologies’ cloud-based vending management system. The "delivery"
component eliminates the need for on-premise servers, as well as the
need for paper invoicing and statements. Operators can also leverage
online ordering using Seed Delivery without the need for costly IT
integration.
Several channel partners, including Bunn
and Coffea
Technologies, featured USA Technologies’ cashless payment solution
in their booth during the show. Founded upon five generations of family
entrepreneurship, Bunn is headquartered in Springfield, Illinois with
support from five additional United States locations, as well as
warehouses or offices in Canada, Mexico, Brazil, Germany, China, UAE and
the United Kingdom. Coffea Technologies is the inventor and exclusive
patent holder of the limitless vacuum extraction brewing method.
Manufactured in North America, Coffea designs and distributes commercial
brewing equipment for the Hospitality, Restaurant and OCS markets around
the world.
“We believe coffee services is a cornerstone of the unattended,
self-serve retail industry, and is in a state of increasing innovation,”
said Michael Lawlor, Chief Services Officer, USA Technologies. “As we
saw at this week’s CTW, coffee services companies are looking for
next-generation technologies to streamline processes, cut costs and
increase sales. We were excited by the interest we saw in USAT, and it
indicates the industry’s continued momentum toward modern, innovative,
end-to-end solutions.”
According to the 2017
State of the Office Coffee Industry report by Automatic
Merchandiser, the office coffee industry alone represents $5.1 billion
in revenues and remains one of the strongest segments in the workplace
refreshment industry post-recession, with sales increasing for 68.4% of
the operators in 2016.
Last year, USAT completed the acquisition of Cantaloupe Systems, which
includes its Seed Office and Seed Pro services, adding logistics,
dynamic route scheduling, automated pre-kitting, responsive
merchandising, inventory management, warehouse and accounting management
to its existing portfolio of cashless payment, loyalty and consumer
engagement services. The combined portfolio is designed to provide an
enterprise system for self-service unattended retail businesses,
including coffee services.
About NAMA
Founded in 1936, NAMA is the association representing the $25 billion
U.S. convenience services industry. With more than 1,000 member
companies – including many of the world’s most recognized brands – NAMA
provides advocacy, education and research for its membership. Visit www.namanow.org.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider
of integrated cashless and mobile transactions in the self-service
retail market. The company also provides a broad line of cashless
acceptance technologies including its NFC-ready ePort® G-series, ePort
Mobile® for customers on the go, ePort® Interactive, and QuickConnect,
an API Web service for developers. Through its acquisition of Cantaloupe
Systems, Inc. ("Cantaloupe"), the company also offers logistics, dynamic
route scheduling, automated pre-kitting, responsive merchandising,
inventory management, warehouse and accounting management solutions.
Cantaloupe is a premier provider of cloud and mobile solutions for
vending, micro markets, and office coffee services.
Useful Links:
USA Technologies: https://usatech.com/
Twitter:
https://twitter.com/usa_tech
YouTube:
https://www.youtube.com/user/USATechnologies
Resource
Center: https://usatech.com/resource-center/the-benefits
Sales and Partnership Inquiries:
Please contact USA Technologies,
Inc. at +1 800.633.0340 or sales@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 business
strategy and the plans and objectives of USAT’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 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, the ability of third-party studies to predict future
market conditions, consumer behavior and trends in sales across all of
USAT's customer locations; and the possibility that all of the expected
benefits and efficiencies from cashless payment services, including
increases in revenue and reductions in costs, will not be realized by
all vending operators and on all vending machines or within the expected
time period. 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20181115005539/en/
Source: USA Technologies, Inc.
For USA Technologies, Inc.:
Maeve McKenna Duska +1 800.633.0340
mduska@usatech.com
Emily Porro
Savarese Communications
347-346-3663