MALVERN, PA — October 11, 2017 — USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a payment technology provider of cashless and mobile transactions in self-serve retail, announced a new contract with Berkshire Food, Inc., a Canteen franchise, that provides refreshment through vending, coffee, micro-markets, direct store delivery, contract feeding, mobile catering and/or food services. This new agreement represents an increasing demand for USA Technologies’ state-of-the-art ePort Connect® cashless payment platform as the solution of choice for providing cashless payments and premier support services.
“With the ubiquity of the mobile phone, more and more consumers, particularly millennials, want the ease of making purchases with a tap, click or swipe,” said Mike Cicarelli, co-owner, Berkshire Food, Inc. “USA Technologies enables us to better serve our customers by becoming 100 percent cashless and mobile-payment enabled. We now are able to cull much more data, giving us invaluable insight into a customer’s wants and needs, while simultaneously enabling us to streamline our daily operation.”
A Connecticut-based Canteen franchise, Berkshire Food is widening its footprint with a combination of new ePort® Interactive and ePort® G10-S units, adding 1,000 new devices to the existing approximately 1,500 it already has in the field. As a USAT Model Market, the company will also have access to the Premier Support Services program offerings, which provides access to a bundle of best-in-class support services including deployment planning, project management, installation support, training, tools specific to the marketing of cashless programs, live marketing support/consultation, mobile payment and, down the line, USAT’s MORE.TMLoyalty Program. Berkshire Food is also leveraging wireless DEX and inventory management with the integration of Gimme Vending’s technology, for better sales, inventory and service data.
“In today’s market, giving consumers a choice to pay with cash or credit, as well as the ability to use a mobile wallet, is a must,” said Michael K. Lawlor, chief services officer, USA Technologies. “Our Premier Support Services not only improve deployment so customers can enjoy the benefits quicker, but, together with the loyalty programs, also empower our customers with marketing know-how and resources for additional engagement opportunities. By providing our customers with what we believe to be best-in-class technology, we give them the right tools to meet this growing expectation, while improving the odds of increasing revenue and participation.”
Berkshire Food, Inc.: http://www.bfoods.com/
USA Technologies: https://usatech.com/
Resource Center: https://usatech.com/resource-center/the-benefits
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About ePort Connect®
USAT’s ePort Connect service is a PCI-compliant suite of cashless payment and telemetry services specially tailored to fit the needs of self-serve retail industries. Designed to be a “one-stop shop,” services offered through ePort Connect include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24 x 7 customer service and a host of value-added services, including mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.
About Premium Support Services
USAT’s Premium Support Service bundles USAT’s best-in-class services to ensure the most effective deployments of USAT’s cashless technology through cohesive planning that maximizes returns. Services include USAT’s Model Market program for planning, project management, installation support, and marketing support; integration of deployment planning, installation and performance optimization; access to USAT’s flagship Knowledge Base data; and customized reporting in support of deployment, inventory and DEX project management. USAT’s Premium Support Service is available to customers that have made a commitment to connect a significant portion of their locations to USAT’s service.
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 Mobile™ for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers. USA Technologies has 73 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.
“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 future market conditions and consumer behavior; and the possibility that all of the expected benefits and efficiencies from the Premium Support Services, including increases in revenue, will not be realized by all vending operators and on all vending machines or within the expected time period. 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.