USA Technologies Announces Availability of ePort SDK - an End to End Encrypted Solution for Unattended Point of Sale
Malvern, PA. May 13, 2009 - USA Technologies (NASDAQ: USAT) announced today the availability of ePort SDK™, a software version of its ePort cashless transaction technology that includes enhanced security features.
ePort SDK offers all the benefits of the traditional ePort device in a software package. Combined with the Company's ePort Connect Service for payment processing, consumer support and online reporting, the solution provides end-to-end encryption on all credit and debit card transactions.
"Ensuring the security for our customers is a priority at USA Technologies to counter identity theft and credit/debit card fraud," said Ron Fridman, VP of Engineering, USA Technologies. "The ePort SDK software offers our customers financial security, from the swipe of their card, through the transaction and to the completion of the purchase."
The software-based ePort SDK is designed for applications in which a customer's unattended point of sale solution has computing power 'built in' - overcoming the need for a standard ePort terminal. The ePort SDK software will run on both Linux and Windows based computing platforms.
The ePort SDK enables kiosks and other PC-based unattended retail locations to accept cashless payment. The product is particularly well suited to the kiosk market, where it is already being used by USA Technologies' customers including Merit Entertainment and Teknovation. The software is also designed for use with next generation vending machine controllers which are being developed by several vending manufacturers and their component suppliers.
The ePort SDK solution utilizes MagneSafe™ state-of-the-art security technology from MagTek, Inc. The technology uses a proven industry standard encryption algorithm that delivers the most stringent security available without the need to add decoding equipment. The MagneSafe™ encrypts financial card data inside the payment terminal read head at the time of the card swipe, and the data remains encrypted until the data is securely transferred to a payment processor.
"We take our responsibility to protect consumer card data very seriously and are committed to doing everything in our power to protect our customers from card fraud and ID theft," said Mr. Fridman. "The ePort SDK solution meets the industry's highest security standards."
USA Technologies was certified by Visa as a Level One PCI Service Provider earlier this year, and continues its commitment to further strengthen customer security with the introduction of the ePort SDK.
About MagTek
Founded in 1972, MagTek is the leading provider of the technology that makes transactions easier, faster, and safer. MagTek has developed many secure product lines that meet the transaction needs of retail, financial, and OEM markets. As one of the pioneers in the development of industry standards for cards, checks, and PINs, MagTek's products are used by millions of people every day at financial institutions, supermarkets, gas stations, restaurants, casinos, hotels, on airplane seatbacks, ATMs, self-service kiosks, and POS terminals. If you swipe, scan, dip, PIN, or slide, you're likely to find MagTek security inside.
MagTek has sales offices throughout the United States, Europe, and Asia, as well as independent distributors in over 40 countries.
Statement under the Private Securities Litigation Reform Act:
Statements in the links set forth above that are not strictly historical are "forward looking" statements within the meaning of the safe harbor provisions of the federal securities laws. Investors are cautioned that such statements are only predictions, and speak only as of April 29, 2009, the date of the presentations. USA Technologies does not assume any obligation to update such information in the future. USA Technologies' actual results in the future may differ materially from those projected in the forward looking statements due to risks and uncertainties that exist in USA Technologies' operations and business environment, including but not limited to, those risks and uncertainties set forth in the Company's Form 10-K for the fiscal year ended June 30, 2008.
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