SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
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Date of report (Date of earliest event reported): April 1, 2009
USA TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
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Pennsylvania |
001-33365 |
23-2679963 |
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(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
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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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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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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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure
On April 1, 2009 USA Technologies, Inc. (“USA”) and VISA U.S.A. INC. (“VISA”) entered into a Contactless Terminal Support Agreement. The agreement provides that VISA would pay USA the amount of $200 for each e-Port that is deployed by USA prior to December 31, 2009. The agreement would cover up to a maximum of 4,000
e-Ports. These e-Ports would accept credit and debit cards utilizing VISA’s contactless technology as well as VISA’s magnetic stripe payment cards. The initial 1,500 e-Ports covered by the agreement are anticipated to be deployed by USA in the Chicago, Illinois geographic area. VISA would pay USA an aggregate of $800,000 if all 4,000 e-Ports are timely deployed. USA’s customer (i.e., the location owner) would enter into a three year exclusive processing agreement with USA in connection with
the vending machine utilizing the e-Port.
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: |
/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: April 13, 2009 | ||