[May 28, 2015] |
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USA Technologies Announces Support for Android Pay
USA Technologies (News - Alert), Inc. (NASDAQ:USAT), a leader of wireless,
cashless payment and M2M/IoT solutions for small-ticket, self-serve
retailing industries, is announcing its ability to accept Android (News - Alert) Pay, a
new mobile payment solution that will offer consumers simplicity,
security and choice when paying for items with their Android phones.
Android Pay is the Android way to pay in-store and in-app.
It is now possible for USA Technologies customers to provide Android
users the "frictionless" experience of paying with a smart phone at
participating vending machines, kiosks, commercial laundry and other
self-serve and unattended retail locations.
With approximately 210,000 customer locations, USA Technologies believes
it has one of the largest footprints of NFC merchant locations enabled
to accept mobile payments in the United States. The unattended markets
that USAT serves represent the multiple, small-ticket purchase
transactions that consumers make every day.
"We believe that Android Pay is the perfect match for self-serve retail.
Making Android Pay available to millions of Android users will present
what we believe to be a fundamental shift in convenience and adoption
for consumers," said Stephen P. Herbert, Chairman and Chief Executive
Officer of USA Technologies. "We anticipate that in 2015 more and more
vending, kiosk, commercial laundry and unattended retail operators will
move to cashless systems to meet this demand, and believe that USA
Technologies is uniquely positioned to support them."
Cashless Payments are On the Rise
A recent 2015 USA Technologies Knowledge Base (News - Alert) report that culls data
from 100,000 top-performing terminals, shows that consumer cashless
usage increased 32 percent in a one month period in 2014, to 37 percent
during a similar one-month period a year later.
Mobile payment introduces an opportunity for merchants to better connect
with their consumers in an unattended setting. By adding mobile payment
options, self-serve or unattended retail operators can simplify the
consumer purchasing experience while also getting closer to the consumer
through loyalty and communication programs at participating locatios.
USA Technologies began building NFC capabilities into its cashless
payment products and services approximately 10 years ago and has enjoyed
a steady increase in the sale of its flagship ePort cashless payments
technologies specially designed for small ticket, unattended retail
applications.
For more information on Android Pay, visit the Android
Official Blog.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M
telemetry solutions for small-ticket, self-serve retailing industries.
ePort Connect® is the company's flagship service platform, a
PCI (News - Alert)-compliant, end-to-end suite of cashless payment and telemetry
services specially tailored to fit the needs of small ticket,
self-service retailing industries. USA Technologies also provides a
broad line of cashless acceptance technologies including its NFC-ready
ePort® G-series, ePort Mobile™ for customers on the go,
and QuickConnect, an API Web service for developers. USA
Technologies has been granted 87 patents; and has agreements with
Verizon, Visa, MasterCard (News - Alert) and Chase Paymentech and customers such as
Compass, AMI Entertainment and others. 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, 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, business, financial
market and economic conditions; whether USAT's current or future
customers purchase, rent or utilize ePort devices or our other products
in the future at levels currently anticipated by USAT; the reliability
of USAT's 2015 Knowledge Base study to predict future increases in
cashless usage by consumers; the timing and pace of adoption of Android
Pay by consumers given the developing market for mobile payments; the
possibility that all of the expected benefits from acceptance of
payments through Android Pay, including increased sales, will not be
realized by all of our customers, or will not be realized to the extent
predicted and/or within the expected time period; whether USAT's
customers continue to utilize USAT's transaction processing and related
services, as our customer agreements are generally cancelable by the
customer on thirty to sixty days' notice; and the ability of USAT to
accurately predict future market conditions, customer and consumer
behavior. 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006424/en/
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