USA Technologies Inc (USAT)

[Enterprising Investor]

Setomatic Systems

Originally founded in 1959 and then incorporated in 1968, Setomatic Systems, Inc. has been a leader in payment technology and innovation for more than five decades. With a solid history of dependability, reliability, and longevity, Setomatic Systems is your obvious choice.
Located in Farmingdale, NY, Setomatic Systems has positioned itself to be an industry leader for decades to come. Our modern 13,000 foot manufacturing, design and distribution facility is at the heart of our operation.

Now in its third generation, this family owned and operated business continues its tradition of design excellence. Our “hands on” approach has enabled us to fully understand industry trends as they emerge and to adapt to them through innovation and cutting edge technology as those trends change. As an example, well before any self serve industry accepted credit cards, we introduced the first credit card readers to the laundry market in 1995.

A History of Innovation

For the first two decades, all of our products were either mechanical or electro-mechanical. That all changed in 1976. It was in that year that we introduced “Card Technology” to the coin laundry industry. A year later we brought to market the first central control meters that used magnetically encoded cards, and by 1983 we were fully embarked on a program of electronic, cutting edge payment products. By the early nineties, our electronics were factory installed by more coin operated laundry appliance manufactures than any other supplier of payment electronics.

Then in 1995, we introduced our proprietary ChipCash™ System, a multi-card kit for the vending and laundry industry. This system enabled us to convert any single machine to operate with coin, credit/debit card, smart card, or any combination of the above. This unique multi-platform, modular design system allowed the owner to add features by just plugging in the appropriate peripheral.

In 2007, identifying a changing market, Setomatic Systems set out yet again to redefine the way payment was accepted in the markets it served and started on the development of its most advanced product to date, SpyderWash®. In 2009 we introduce the SpyderWash System at the Clean Show in New Orleans. In August 2012, the Planet Laundry magazine named Setomatic as that year’s industry leader for “changing the face of today’s self service laundry industry”.

A “West Side Story”

In 1998 we were chosen to partner with Mondex (MASTERCARD), VISA, CHASE BANK and CITI BANK for the development of unattended laundry and vending terminals. These certified open end terminals were deployed in a joint roll out in New York City’s Upper West Side.

See “The New York Times” article: http://www.nytimes.com/1996/12/05/business/mastercard-s-smart-card-builds-support.html

O.E.M.’s (Original Equipment Manufacturers)

Over the years, Setomatic has manufactured electronic meters that have been factory installed by such companies as:
American Dryer
General Electric
International Dryer
Maytag Company
Wascomat (Electrolux)
Whirlpool Corp

http://www.setomaticsystems.com/about-us/