The NAMA Show – Today, USA
Technologies (NASDAQ:USAT) (“USAT”), a premier digital payment,
consumer engagement and logistics service provider for the self-service
retail market, marked the 20th anniversary of the debut of
the ePort which was first unveiled at NAMA in 1999, bringing one of the
first cashless payment platforms to the self-serve retail industry. With
an eye toward USAT’s continued leadership in innovation, USAT branded
its booth, “Powering Your Unattended World,” and showcased new
technologies, partnerships and research throughout the show.
This press release features multimedia. View the full release here:
Photo of USAT’s NAMA 2019 booth (Photo: Business Wire)
“Twenty years ago, we ushered in the era of cashless in the vending
market with ePort Connect,” said Stephen P. Herbert, CEO of USA
Technologies. “Since then, USAT has been at the helm of industry
innovation, a change agent powering cashless adoption industry-wide.
Early on, we began to recognize the benefits and opportunities possible
through cashless technologies. USAT has since grown to support over
15,000 customers and approximately one million connections. We believe
we have one of the largest NFC mobile footprints in the US retail
market. We were excited to celebrate this incredible accomplishment at
NAMA and look forward to continuing to drive innovation and shape the
self-serve retail marketplace for decades to come.”
During the show, USAT’s booth focused on the strength of its enterprise
platform for unattended retail through its booth design and messaging:
bringing consumer engagement and rewards, the benefits of both top-line
revenue opportunities through digital payments and the bottom-line
margin opportunities through increased efficiencies, logistics and
Seed Markets Expansion: USAT announced that Seed
Markets is now fully integrated with some of the industry’s large
micro market providers, including 365
Retail Markets, Avanti
Square Market and Yoke
Payments. Through the Seed Markets’ cloud-based and mobile
solution, micro market operators can now benefit from one standard set
of tools including simplified route management, efficient warehouse
pre-picking, a single reporting interface and cash accountability.
Seed Markets was also featured in NAMA’s New Product Zone.
Apple Pay Cash Study: In its main booth, USAT highlighted a
rewards program promoting Apple Pay Cash where a consumer can receive
a discount if they use Apple Pay Cash at a participating ePort
location. This program was piloted by Five Star and the white paper
was available to show to attendees and is now available for download here.
Michigan State University Study on Low Performing Machines: While
many vending operators prioritize equipping high-volume machines with
cashless technology, USAT’s study in partnership with Michigan State
University found that low performing machines can offer significant
revenue growth as well. Vending operators who added cashless
technology to machines with less than $2,000 a year in sales
experienced top line sales growth of 110 percent on average over the
first 18 months following deployment, and cash sales increased by an
average of 97 percent on the low performing machines during that same
period. The results were presented on the show floor on Thursday,
April 25th during NAMA Learning Lab and the full press release
announcing the results can be found here.
Partnerships in Action: In its Partner Pavilion, USAT showcased
its technology in real life scenarios such as in workplace break
rooms, the airport and more, with various industry partners across the
vending, micro-market and office coffee services segments.
Participating partners include 365 markets, ShelfX, and Bunn.
Starbucks and Avanti Markets are also showcasing USAT’s technology in
“USA Technologies has been a great partner,” said Karalynn McDermott,
Senior Vice President of Market Development at Bunn-O-Matic Corporation.
“The support and reliability we receive from USA Technologies, as well
as their proven system, allows us to grow and innovate. We look forward
to continuing our partnership with the company as the convenience
service industry continues to grow.”
“Imperial has been a Seed customer for more than 10 years, and it has
completely revolutionized our business,” said Lance Whorton President of
Imperial Companies. “Through USAT’s Seed technology, we can now ensure
our machines are full, our routes are growing and our products are
targeted to the preferences of consumers. This ensures we are bringing a
better experience to our clients and consumers while increasing our top
line sales which continue to grow year-over-year-over-year.”
The NAMA show ran from April 24-26 at the Las Vegas Convention Center,
Las Vegas, NV.
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.
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or firstname.lastname@example.org.
“Safe Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: All statements other than statements of historical fact
included in this release 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, business, financial,
market and economic conditions; the ability of USAT and/or MSU to
predict future market conditions and consumer behavior; whether
consumers will continue to increase their purchases at vending machines
in the future; the extent to which deployment strategies affect return
on cashless investment; and the possibility that all of the expected
benefits and efficiencies from cashless payment services, including
increases in cashless and cash revenue on vending machines in general,
and low performing vending machines in particular, and bottom-line
margin opportunities 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.