NAMA OneShow – USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in vending, kiosk, parking and other self-serve retail industries, today announced that together with Ingenico Group, a global leader in seamless payment, which has 32 million terminals present in more than 170 countries, will be launching a combined best-in-class cashless hardware and cashless payment services solution in the United States.
By offering Ingenico Group’s payment hardware, USA Technologies’ customers will have the opportunity to add an EMV contact solution to their cashless payment portfolio. In turn, Ingenico Group would be able to leverage USAT’s Quick Connect or ePort® Connect platform for use with its PCI v4-certified, EMV and NFC/contactless unattended payment solution - the iUC285.
“At Ingenico Group, it’s our goal to offer merchants the best payment solutions across a variety of verticals and provide consumers with fast, simple and secure purchasing experiences,” said Bruce Rasmussen, director of sales, Strategic Verticals at Ingenico Group / North America. “Further, we seek to provide the most innovative solutions to empower merchants, and by working with USA Technologies we’re able to meet our objective to expand the most secure payment options to the unattended retail market.”
With this combined offering, USAT intends to provide unattended retail operators the prospect of using Ingenico’s world-leading seamless payment hardware via USAT’s cashless payment network. Merchants could gain access to automatic updates to payment software, settings, security and point-of-sale insight data through USAT’s ePort Connect network with the ability to layer on valuable services like consumer engagement, loyalty programs, and payroll deduct.
“By going to market with a global leader and trusted brand like Ingenico Group, we are able to offer vending and other unattended retail merchants with the best-in-class payment solutions, that accept new and emerging forms of payments like EMV, with USAT’s ePort Connect suite of cashless payment, consumer engagement and loyalty services,” said Michael Lawlor, Chief Services Officer, USA Technologies. “Best of all, with Ingenico Group hardware, our customers would be expanding the payment acceptance possibilities, while we work to increase our presence in new market sectors where USAT’s cashless payment technology could be utilized.”
The proposed combination of USAT’s platform of services and Ingenico Group’s hardware could benefit a number of industries in the unattended market including: kiosk, education, retail, hospitality, parking and vending, among others.
About USA Technologies
USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE. A customizable loyalty program. USA Technologies has 77 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. For more information, please visit the website at www.usatech.com.
Forward-looking Statements
"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 USAT's 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 USAT's management, as well as assumptions made by and information currently available to USAT's 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, the ability of USAT to predict customer demand for EMV payment options offered by Ingenico Group; whether and when the combined offering will be commercially available; whether the combined offering would enable USAT to enter new market sectors; and the possibility that all of the expected benefits and efficiencies from the proposed combined offering of USAT’s services and Ingenico Group’s hardware will not be realized by all vending operators and on all vending machines. 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.
