USA Technologies Inc (USAT)

[FUNMAN]

Customers Quick to Embrace the Power of USA Technologies Expanded Portfolio

Tue December 12, 2017 8:00 AM|Business Wire|About: USAT
Existing USAT Customers Adopt Newly Acquired Seed Pro and Seed Office Services

MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (USAT) (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced that three companies have already signed agreements to adopt the performance optimization elements of USAT’s newly acquired end-to-end enterprise services: Seed Pro and Seed Office. Canteen franchisees Southern Vending and RDS Vending, LLC, along with Miami Vending Machines, have signed agreements to add USAT’s newly acquired Seed Office VMS and Seed Pro analytics software into their existing USAT cashless payment services to improve efficiency, achieve scalability, and maximize the investment they have already made in USAT’s market-leading ePort Connect platform.

USAT completed the acquisition of Cantaloupe Systems, including its Seed Office and Seed Pro services on November 9, 2017, adding logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management to its existing portfolio of cashless payment, loyalty and consumer engagement services. The combined portfolio is designed to provide an enterprise system for self-service unattended retail businesses like vending.

USAT believes that the customer response to its new, combined offering validates the synergies between Cantaloupe Systems and USAT, and demonstrates the enhanced value that the combined platform brings to existing customers looking to increase efficiencies and leverage their current relationship with USAT as a one-stop service provider.

“We have seen an immediate, positive response to the newly acquired services, and have been working diligently with customers to educate them on the availability of Seed Pro and Seed Office and what the expanded USAT portfolio means for them,” said Michael K. Lawlor, Chief Services Officer, USA Technologies. “We believe these initial commitments to layer the Seed Pro and Seed Office software onto existing USAT connections represent the tip of the iceberg, with more customers anticipated to come on board later this month. We are encouraged that our customers recognize the value of the best-in-class logistics software that we acquired through Cantaloupe, and the ability to add it to their current portfolio of USAT services through one, combined company. We are pleased to be able to add more value for our customers as our businesses grow together.”

USA Technologies recently reported a 37 percent increase in net new connections and a 19 percent year-over-year increase in revenue, marking the 32nd consecutive quarter of growth for the company.

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Sales and Partnership Inquiries:

Please contact USA Technologies, Inc. at +1 800.633.0340 or [e-mail].

About USAT's Premium Support Service:

USAT's Premium Support Service bundles USAT's best-in-class services to ensure the most effective deployments of USAT's cashless technology through cohesive planning that maximizes returns. Services include USAT's Model Market program for planning, project management, installation support, and marketing support; integration of deployment planning, installation and performance optimization; access to USAT's flagship KnowledgeBase data; and customized reporting in support of deployment, and DEX project management. USAT's Premium Support Service is available to customers that have made a commitment to connect a significant portion of their locations to USAT's service.

About ePort Connect®:

USAT's ePort Connect service is a PCI-compliant suite of cashless payment and telemetry services specially tailored to fit the needs of self-serve retail industries. Designed to be a "one-stop shop," services offered through ePort Connect include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24 x 7 customer service and a host of value-added services including mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.

About USA Technologies:

USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile™ for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers. Through its recent acquisition of Cantaloupe Systems, Inc., the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management solutions. Cantaloupe Systems is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services. USA Technologies and Cantaloupe Systems have 85 United States and foreign patents in force; and have agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. For more information, please visit the website at www.usatech.com.