CBS News to Feature e-Port G6 Driving MasterCard's PayPass in Coke Philadelphia Vending Machines
"Giving consumers convenience, speed and security" - USA Technologies Chairman
MALVERN, Pa, July 6, 2006 -- USA Technologies' (OTC Bulletin Board: USAT) Generation Six (G6) e-Port® radio frequency technology, developed specifically to accept MasterCard PayPass and other forms of contactless payments, as well as standard magstripe credit and debit cards, is scheduled to feature on CBS Television News.
CBS3 News Philadelphia today interviewed George R. Jensen, Chairman and CEO of USA Technologies, at the Oxford Valley Mall, Langhorne, Pennsylvania, one of 1,000 locations chosen for the first deployment of Generation Six e-Port cashless vending machines. This interview is scheduled to begin airing in the Philadelphia market during the 11:00 PM news broadcast on Friday. (View the report here.)
"The interview by CBS News focuses national attention on our leadership in developing wireless technology to network everyday devices such as the millions of vending machines in America," said Mr. Jensen. "It highlights how our patented technology is driving new business opportunities and revenues for global brand customers such as MasterCard, Coca-Cola and many others."
MasterCard caught the US vending industry by surprise when it announced a partnership with the Philadelphia Coca-Cola Bottling Company and USA Technologies to deploy 1,000 credit card activated vending machines in Philadelphia.
The deployment in Philadelphia, which began this week, is the single biggest installation of cashless and contactless vending machines in vending industry history.
The USA Technologies Chairman also discussed with CBS the historic relationship formed between his company, MasterCard and Coca-Cola Philadelphia to break open the $40 billion vending opportunity to cashless transactions.
Recent industry surveys show that consumers want to use their credit cards for making small purchases, and on average consumers will purchase 50 percent more product and make multiple purchases from vending machines when given the credit card option.
"We live in a cashless marketplace and MasterCard and Coke Philadelphia are teaming up with USA Technologies to give customers what they want - convenience, speed and security of credit card transactions at vending machines," said Mr. Jensen. "MasterCard chose our e-Port to accept its PayPass "Tap & Go" payment system, and Coca-Cola Philadelphia is providing the vending machines. We are teaming with global industry giants to change the vending marketplace," he said.
The e-Port G6 is the only technology to accept not only MasterCard's PayPass, but all forms of contactless card payment, including Visa's Contactless, American Express' ExpressPay, and Chase Bank's Blink. G6 equipped machines also accept traditional mag-stripe cards and cash to cover every method of payment.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable; validity of intellectual property and patents of USA, the ability of USA to license its patents, the ability of USA to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements.
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