USAT Announces Exclusive Cashless Vending Agreements

USA Technologies, Inc. (USAT) announced that it has entered into 10 new exclusive agreements with existing customers during the second quarter, ended Dec. 31, 2012.

The agreements, which call for exclusive use of USAT's comprehensive ePort Connect® service, are all three years in duration. The customers with whom the exclusive agreements have been entered into represent existing USAT customers who are regional vending companies as well as a Pepsi distributor.

"We are very pleased to welcome these companies to our list of customers who have committed to exclusively using USAT's ePort Connect® service," said Michael Lawlor, senior vice president of sales and business development at USA Technologies, in a prepared statement. "We believe these agreements reflect our customers' confidence in USAT's products and services, particularly in light of what we believe are accelerating trends in cashless and mobile payment acceptance as well as the incremental benefits that telemetry and other services can provide their respective businesses."

"For USAT, these agreements are also indicative of a component of our growth strategy that focuses on further transitioning our current customer base to our ePort Connect® service. Connections to our ePort Connect® service reached 186,000 connections as of Dec. 31, 2012, up 37 percent from the prior year," continued Lawlor.

"As part of our exclusive group, these customers are poised to benefit from USAT programs such as JumpStart and our Knowledge Base services. In addition, as USAT continues to add new services including prepaid programs and loyalty and couponing to our ePort Connect® portfolio, these customers will be well positioned to benefit from a turnkey service platform designed specifically for the unattended small-ticket market," concluded Lawlor.