MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. announced that it received the "2016 North America Customer Value Leadership Award" from Frost & Sullivan, the Growth Partnership Company. USAT earned the Award in recognition of its innovation in the integrated financial services and retail space industry in North America.
"We are honored to receive this prestigious Award from Frost & Sullivan," said Stephen P. Herbert, Chairman and CEO, USA Technologies. "Leading the way for the adoption of cashless payments in a traditionally cash-based industry has been our pleasure the past 15 years. The team at USA Technologies has worked very hard to guide our customers through the transition to newer technologies while creating inherent value for and loyalty in consumers through frictionless transactions and loyalty programs. This Award has special significance to us, as it shows that the strides we've made in the market are being recognized."
Frost & Sullivan has a global team of analysts and consultants continuously researching a wide range of markets across multiple sectors and geographies. As part of this ongoing research, Frost & Sullivan identifies companies that consistently deepen customer relationships by offering superior products and services that deliver a clear, demonstrable ROI. This research involves extensive primary and secondary research across the entire value chain of specific products. For the Customer Value Leadership Award, its analysts independently evaluated two key factors—Customer Impact and Business Impact. Against the backdrop of this research, Frost & Sullivan singled out USA Technologies, Inc. among the best in providing customer value in the market.
Previously recognized in 2014 by Frost & Sullivan for its value leadership in financial services and retail machine-to-machine communications solutions, USAT offers point-of-sale services to business owners in the self-service, unattended market. An early adopter of advanced payment processing, contactless acceptance, and telemetry technologies, the company helps business owners transition to a world where unattended machines accept various payment methods.
USAT currently has over 429,000 connections, of which 300,000 plus are NFC enabled. Consumers, millennials in particular, are taking advantage of the ubiquity of their smartphones, increasingly using mobile wallets such as Apple Pay, Android Pay, and Samsung Pay to pay for goods. However, the unattended and self-serve retail market, such as vending, laundry, and parking, has traditionally been coin and cash based. Now operators and service providers are looking at a technology upgrade to accept next-generation digital payments. USAT has simplified this process by creating an end-to-end platform that offers everything from data networking to payment processing, and loyalty and marketing programs, in addition to best-in-class service and support, via its ePort Connect and ePort Interactive programs.
