USA Technologies Expands JumpStart Offering to Include Stand-Alone Wireless Telemetry Option
MALVERN, PA, August 31, 2011 -- USA Technologies, Inc. (NASDAQ: USAT), a leader of wireless, cashless payment and M2M telemetry solutions for self-serve retailing industries, today announced the expansion of its JumpStart program to include a stand-alone wireless telemetry solution. With this expanded product offering, USA Technologies now provides the full array of vending technology solutions under its JumpStart program, enabling customers the flexibility to participate in this program for cashless payments, telemetry, or both. The USA Technologies' JumpStart program makes it possible to implement the latest in USA Technologies' cashless payments and wireless telemetry solutions with no capital cost and no long-term commitment.
"USA Technologies already provides wireless telemetry solutions and cashless payment services to over 100,000 locations across the US and Canada," said Stephen P. Herbert, President and COO of USA Technologies. "Our customers have been asking us to include our stand-alone ePort wireless telemetry solution as part of our popular JumpStart program to alleviate the burden of upfront capital costs typically associated with telemetry hardware. Their preference is to pay a fixed monthly fee for our telemetry hardware and related services. And because our ePort Connect Service supports both cashless payments and telemetry, customers who choose to utilize only the telemetry solution now, can easily upgrade to the industry's leading cashless payment solution later."
USA Technologies' ePort wireless telemetry solution for the vending industry is designed to provide customers with maximum flexibility, is VDI-compliant and compatible with the vending industry's leading providers of vending management software systems, including Crane Merchandising Systems' Streamware and VendSys, as well as the proprietary systems of several large customers. The ePort telemetry solution provides real-time DEX (Data Exchange) data each day, enabling owners and operators to make critical business decisions for the following business day's operations and allowing them to maximize route efficiency, route scheduling and pre-loading of route trucks. USA Technologies and other suppliers collaborated with NAMA (National Automatic Merchanding Association) to establish the VDI (Vending Data Interchange) standard to facilitate data sharing and interoperability among vending technology platforms and service suppliers. USA Technologies' ePort Connect service is the industry's most flexible and interoperable solution for cashless payments and M2M telemetry services. Its open platform enables customers to connect with most major route management systems, benefit from the choice of three different card processors, and have the option to install USAT's cashless payments hardware or hardware from multiple other hardware manufacturers.
"Our ePort hardware and ePort Connect service provides our vending customers with the two key technologies they need to compete in the highly-competitive vending industry: cashless payments and DEX telemetry, all on one hardware platform," said Herbert. "By adding the stand-alone telemetry option to our JumpStart program, we are enabling our customers to put their entire fleet of vending machines on our ePort Connect service for route management and increased efficiencies, with the ability to add cashless later without a change in hardware. We believe that the turn-key nature and flexibility of our solution combined with our JumpStart program is a winner for owners and operators in small-ticket, unattended retail industries like vending. Now operators can deploy cashless payments, telemetry, or both, quickly and easily without the upfront capital costs."
Owners and operators of unattended retail terminals like vending machines are encouraged to contact USA Technologies for more information on how to get started with cashless and/or telemetry by calling 800-633-0340.
"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 financial position, anticipated connections to our network, business strategy and the plans and objectives of the Company'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 the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company'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, business, financial market and economic conditions, including but not limited to, the ability of the Company to retain key customers from whom a significant portion of its revenues is derived; the ability of the Company to compete with its competitors to obtain market share; the ability of the Company to obtain widespread commercial acceptance of it products; and whether the Company's existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by the Company. 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, the Company 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.
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