SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report Pursuant to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): May 20, 2008
USA
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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Pennsylvania
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33-70992
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23-2679963
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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100
Deerfield Lane, Suite 140
Malvern,
Pennsylvania 19355
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: 610-989-0340
n/a
Former
name or former address, if changed since last report
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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£
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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£
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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£
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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£
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
7.01. REGULATION FD DISCLOSURE
On May
20, 2008, a New York Stock Exchange listed bottler representing a major global
soft drink brand agreed to exclusively use USAT’s e-Port hardware and related
network services until May 31, 2011. The Exclusive Supply Agreement provides
that the major bottler shall utilize USAT as its sole and exclusive
supplier/provider of all credit-debit card vending systems (including USAT’s
e-Port devices) as well as all card processing and data services (including
USAT’s e-Port Connect Services) to be utilized by the bottler in connection with
its vending machines. The Exclusive Supply Agreement also provides that during
such period of time, the major bottler shall not purchase, promote, negotiate
for the purchase of, or solicit quotations for, any such products or services
other than those of USAT.
USAT and
the major bottler also entered into a three year e-Port Connect Services
Agreement pursuant to which USAT will act as the exclusive provider of all card
processing, data and financial/accounting services, and consumer billing inquiry
support in connection with all of the bottler’s vending machines actually
utilizing USAT’s e-Port technology. As an inducement for the major bottler to
enter into the Exclusive Supply Agreement, USAT extended favorable pricing to
the major bottler of approximately $320 per e-Port terminal. Pursuant to the
e-Port Connect Services Agreement, USAT would receive its customary activation,
network and processing fees from the major bottler.
The
information in Item 7.01 of this Report should not be deemed to be “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that section.
SIGNATURES
Pursuant
to the Securities Exchange Act of 1934, the Company has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
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USA
TECHNOLOGIES, INC.
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By:
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/s/ George R. Jensen,
Jr.
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George
R. Jensen, Jr.
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Chief
Executive Officer
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Dated: May
28, 2008
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