USA Technologies Ranked 5th in U.S. and 30th Worldwide for POS Terminal Shipments in 2011
MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc . (NASDAQ: USAT), (USAT), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, has been ranked as one of the top five shippers of point-of-sale (POS) terminals in the United States. The Nilson Report, a leading source of research on consumer payment systems worldwide, again ranked USAT 5th among the leading POS shippers in the United States for calendar year 2011. On a worldwide basis, USAT was ranked 30th.
Placements of our ePort® cashless payment terminals, such as our NFC-enabled ePort G8, continue to drive adoption in the unattended, small-ticket market as operators of these traditionally cash-based operations experience the many benefits our solutions can bring to their businesses, said Maeve McKenna Duska, vice president of marketing for USA Technologies (USAT). We believe that USATs ranking in the U.S. alongside global names such as VeriFone, Ingenico and First Data highlights our leadership role in the small-ticket, unattended spacea market we serve through a variety of POS options, mobile-based solutions and one-stop service, said Duska.
In addition to ePort EDGE and ePort G8 POS terminals, USATs PCI-compliant, cashless payments technology portfolio also includes QuickConnect", an API Web service, all of which integrate with ePort Connect®, USATs comprehensive service platform designed specifically for small-ticket, self-service unattended retail locations such as vending and kiosk. During USATs last fiscal year ended June 30, 2012, connections to USATs ePort Connect service grew by 38% to 164,000 connections, with 224,000 connections targeted by the end of the current fiscal year ending June 30, 2013.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the companys flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of the small ticket, self-service retail industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G8, ePort Mobile" for customers on the go, and QuickConnect", an API Web service for developers. USA Technologies has been granted 84 patents; and has agreements with Verizon, Visa, Elavon and major customers such as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the business strategy and the plans and objectives of USATs management for future operations, 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 USATs management, as well as assumptions made by and information currently available to USATs 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 to retain key customers from whom a significant portion of its revenues is derived; the ability of USAT to compete with its competitors to obtain market share; whether USATs customers purchase or rent ePort devices or our other products in the future at levels currently anticipated by USAT, including our JumpStart Program; whether USATs customers continue to utilize the USATs transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days notice; the incurrence by us of any unanticipated or unusual non-operating expenses, such as in connection with a proxy contest, which would require us to divert our cash resources from achieving our business plan; the ability of a key customer to reduce or delay purchasing products from USAT; whether the significant increase in interchange fees for small ticket debit card transactions that became effective in October 2011 would adversely affect our business in the future; and the ability of USAT to obtain widespread commercial acceptance of its QuickConnect product. 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.
Veronica Rosa, 484-359-2138
VP Corp. Comm. & Investor Relations
Source: USA Technologies, Inc.Copyright Business Wire 2012