USA Technologies, Inc. (USAT) announced that it achieved a record approximately 22,000 new connections to its "one-stop" ePort Connect® service, offset by 2,000 deactivations, for approximately 20,000 net connections for its third fiscal quarter ended March 31, 2014. As of March 31, total connections to USAT's ePort Connect service totaled approximately 244,000.
"Our net connections for the third quarter were double that of the third quarter of last fiscal year, a positive indicator, we believe, that cashless adoption is gaining increased traction in self-serve retail, particularly in vending," said Stephen P. Herbert, chairman and chief executive officer of USAT, in a prepared statement. "At the NAMA OneShow this week, we are continuing to work with existing customers and the many vending operators who are now recognizing that cashless is a competitive necessity in today's environment. Our consultative sessions at the show are in high demand and are designed to help customers make the best cashless decisions for their business. Those options might include initial implementation planning or new offerings such as loyalty and micro-market integration that can further differentiate their brand. In all, we are very pleased," said Herbert.