USA Technologies, Inc. announced that it has entered into three new exclusive agreements with existing customers during the third quarter ending June 30, adding to the exclusive agreements already entered into in Fiscal 2013.
"We believe these exclusive agreements represent not only our customers' confidence in USAT for cashless payment, telemetry and consumer engagement services, but our customers' recognition that their cashless offering is becoming a valuable business tool that requires their immediate attention," said Michael K. Lawlor, senior vice president of sales and business development for USAT in a prepared statement.
The three agreements call for exclusive use of USAT's comprehensive ePort Connect® service and are all three years in duration. The new exclusive customers, City Vending Co., Fresh Brew Group and American Food and Vending Corp., are all regional vending companies.
City Vending Co.'s chief financial officer, Tom Elich, commented, "The revenue uplift that we are experiencing from our existing cashless locations has been compelling. I am fully aware that cashless is the future and by working with USAT, I know that I am working with a partner that has proven to be reliable, responsive and ahead of the game in terms of additional offerings such as loyalty that I can sell to my own customers."
Maria Foresteire, purchasing manager of American Food and Vending Corp., said “Our existing cashless deployments with USAT have been impactful. We also recognize that cashless is clearly the future. Our customers are increasingly requesting it and we anticipate that credit/debit card acceptance will be incorporated into all new business going forward. USAT has worked with us to understand our data and optimize our initial deployments of cashless and this agreement strengthens that relationship as we continue to transition our installed base to cashless.”
Fresh Brew Group’s chief operating officer, Steven Weyel, was initially hesitant about cashless. “While cashless makes great sense, I really needed to see my own data before I began any longer-term planning,” said Weyel. “USAT has showed us how cashless has been successful for us and that success, coupled with increasing demand for cashless from our customers, called for an industry-leading partner like USAT as we move forward.”
"We are very pleased to welcome these companies to our growing list of exclusive customers for our ePort Connect® service," said Lawlor. "As exclusive USAT customers, they should be poised to benefit from USAT's JumpStart program, new products, and our growing menu of services, including our Knowledge Base reviews and our recently introduced loyalty and prepaid program."
As of March 31, USAT had over 4,500 customers and 196,000 connections to its ePort Connect service, increases of 59 percent and 32 percent, respectively, since the same period in the prior year.
