USA Technologies and Ingenico Group to Launch Combined Offering
Expansion of USAT’s Portfolio of World-Leading Payment Solutions
LAS VEGAS–(BUSINESS WIRE)–#AndroidPay—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,
a global leader in seamless payment with 32 million terminals present in
more than 170 countries, it will be launching a combined best-in-class
cashless hardware and cashless payment services solution in the United
States.
By offering Ingenico’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-certified, EMV and
NFC/contactless unattended payment solution – the iUC285.
“At Ingenico Group, it is our goal to offer merchants the best payment
solutions across the retail spectrum and provide consumers with fast,
simple and secure purchasing experiences,” said Bruce Rasmussen,
director of sales, Strategic Verticals at Ingenico Group / North
America. “This joint offering with USA Technologies signals to the
market that we continue to identify the most innovative solutions that
empower merchants and our commitment 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 leading global payment hardware provider, 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.
–G-USAT
Contacts
For Ingenico Group:
Michael Nourie, +1-770-298-1945
Michael.Nourie@ingenico.com
or
For
USA Technologies, Inc.:
Media:
ANW Networks
Melissa
Hourigan, +1-720-988-3856
Melissa@anwnetworks.com
or
Investors:
The
Blueshirt Group
Mike Bishop, +1-415-217-4968
mike@blueshirtgroup.com
