USA Technologies Achieves Three-Year Goal Of 500,000 Connections To ePort Connect® Service

MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced that during its third fiscal quarter, which ended March 31, 2017, the company crossed its goal of 500,000 connections to its ePort® Connect service. 

Three years ago the company set its sights on an aggressive goal to reach this objective by accelerating adoption, building critical mass for the business and firmly maintaining its leadership position in the unattended and self-serve retail markets. Concurrently, the payments industry has seen an increase in the acceptance of credit cards, mobile and contactless payments, which in turn has led to a significant uptick in the adoption of the USAT ePort® Connect platform. 

“In order to reach this milestone we executed on a strategy that focused on enhancing our customers' operations by delivering better value to, and improved performance from, each connection. In turn we were able to drive new customer connections and widen our footprint within the existing customer base,” said Stephen P. Herbert, Chairman and Chief Executive Officer, USA Technologies. “We have developed what we believe to be a powerful, connected platform that in many cases acts as the gateway tap to mobile wallet use. We are grateful to our customers who have put their trust in our products and services and worked with us to modernize and transform an entire industry. We look forward to the future as we continue to execute our strategy and grow shareholder value.” 

USAT is empowering the self-serve and unattended retail industries to meet growing consumer demand for cashless payments with the most advanced interactive media, content delivery system in the market. In addition, it is providing new consumer engagement services through USAT’s MORE™ and Premier Services programs. The company is helping drive the next phase of mobile and cashless payments that move beyond a simple transaction to leverage payment information, therefore engaging with the consumer in the moment, at point-of-sale, driving increased and recurring revenue.