Replies to post #1014 on USA Technologies Inc (USAT)

[FUNMAN]

Thanks for the explanation.

[FUNMAN]

Sounds like USAT programs...Incentives are key to mobile wallet usage
July 18, 2016
by BRIAN DAY, TMG

As mobile wallets emerged on the U.S. payments scene in late 2014, tech experts and consumers alike expected phones to soon replace their physical wallets. While this theory offered the thrilling possibility of more room in purses and back pockets, consumers, in actuality, have been slow to adopt mobile wallets.

While a recent study of mobile wallet usage showed an increasing number of users are giving the technology a try, few consumers use mobile wallets on a continuous basis. Consumers say their top two reasons for lapses in their mobile wallet usage are because they forgot to use them or were unsure of which merchants accept the wallets. Community banks can begin to move their mobile wallets to the front of consumers’ minds by introducing rewards and loyalty programs to their mobile wallets.

When done right, incentives can drive mobile transaction adoption and usage. Take Starbucks, for instance. The coffee chain offers rewards such as free drinks when consumers pay using their mobile app, and the results are impressive. About 24 percent of all Starbucks transactions are done via mobile.

An incentive-focused approach could be the key community banks need to unlock greater consumer usage for their own mobile wallets. Consider introducing one (or all) of the following approaches to your bank’s mobile wallet program:

* Financial incentives – Providing consumers with a cash up-front or cash-back deal when they use a mobile wallet may encourage them to favor their phones when paying.

* Merchandise incentives – Android Pay introduced its “Tap 10” promotion offering consumers a free song with every tap and pay transaction they made within a two-month timeframe. At the tenth tap, consumers received a free Chromecast. Other merchandise offerings could also be effective.

* Data incentives – Consumers often complain about limited data on their mobile devices. Consider offering a free GB (or two) of data when consumers make a mobile payment.

* Digital content incentives – Chase recently offered consumers a free album download for enrolling their cards in Apple Pay. A similar approach with songs, games or videos could also elicit the desired consumer behavior.

If consumers see clear benefits to entering their cards into a mobile wallet solution, they will be more motivated to tap and pay. For best results, incentivize your consumers after multiple uses rather than just a single use. Revisiting your incentive programs throughout the year will also drive adoption and keep your cards top-of-wallet. Choose an incentive that best meets the needs of your bank and your cardholders, and the payments will follow.

[FUNMAN]

Coastal Canteen Vending And Food Services Inc. Expands Relationship With USA Technologies
AUG 10, 2016

MIRAMAR BEACH, Fla.--(BUSINESS WIRE)-- SEVA CONVENTION 2016 -- USA Technologies, Inc., a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced the initial results of an expanded agreement with Coastal Canteen Vending and Food Services Inc. (Coastal Canteen). USAT is currently upgrading the company's 1500 machines to its state-of-the-art cashless technology platform and telemetry services, enabling the company to track the acceptance of cash, credit/debit cards, and mobile wallet payments such as Android Pay and Apple Pay through its NFC-capable ePort Connect® cashless payment system. To date, with approximately a third of the deployment completed, Coastal Canteen is initially reporting cashless usage at 32 percent of average machine sales.

Established in 1953, Coastal Canteen Vending and Food Service is one of the largest vending service providers serving Charleston, SC and the surrounding cities. The company saw an increasing demand for cashless options, not only from consumers in general, but its own customers due to growing awareness of the increased efficiencies and the ability to drive additional sales through cashless and mobile technologies.

"Throughout our sixty-year history, we've built a strong reputation for providing outstanding customer service, and offering the best value through continued hard work and attention to detail," said Donna Trego, Owner, Coastal Canteen. "As more consumers used our machines with the expectation of making a purchase using a credit card or their mobile phone, it was imperative that we met their needs. USAT is the perfect partner as the company is not only helping us upgrade the technology in our current machines, but is also providing full support from purchase to deployment as we move to 100 percent cashless. When our initial investment shows 30 percent cashless usage, we know we've made the right choice."

In addition, Coastal Canteen has signed up for USAT's Premium Support Service offerings, including its model marketing program, which provide companies access to a bundle of best-in-class support services including deployment planning, project management, installation support, training, the marketing of cashless, marketing support, mobile payment and loyalty programs and funding support.

"We're thrilled to add Coastal Canteen to our growing list of retailers choosing to offer cashless payments options on 100 percent of machines," said Jim Turner, Vice President of Deployment Services, USA Technologies. "High cashless usage numbers on large scale deployments like these perfectly showcase how unattended retailers willing to embrace smart machine technology like ours can quickly benefit. Implementing telemetry, cashless and NFC enabled payments not only could lead to more purchases by consumers, but improves business processes and increases efficiencies."