CORRECTING and REPLACING USA Technologies and Ingenico Group to Launch Combined Offering
April 19 2017 - 10:34PM
Business Wire
Expansion of USAT’s Portfolio of World-Leading
Payment Solutions
Please replace the release with the following corrected version
due to multiple revisions.
The corrected release reads:
USA TECHNOLOGIES AND INGENICO GROUP TO
LAUNCH COMBINED OFFERING
Expansion of USAT’s Portfolio of World-Leading
Payment Solutions
NAMA OneShow – USA Technologies, Inc. (NASDAQ:USAT)
("USAT"), a payment technology provider of cashless and mobile
transactions in vending, kiosk, parking and other self-serve retail
industries, today announced that together with Ingenico Group, a
global leader in seamless payment, which has 32 million terminals
present in more than 170 countries, will be launching a combined
best-in-class cashless hardware and cashless payment services
solution in the United States.
By offering Ingenico Group’s payment hardware, USA Technologies’
customers will have the opportunity to add an EMV contact solution
to their cashless payment portfolio. In turn, Ingenico Group would
be able to leverage USAT’s Quick Connect or ePort® Connect platform
for use with its PCI v4-certified, EMV and NFC/contactless
unattended payment solution - the iUC285.
“At Ingenico Group, it’s our goal to offer merchants the best
payment solutions across a variety of verticals and provide
consumers with fast, simple and secure purchasing experiences,”
said Bruce Rasmussen, director of sales, Strategic Verticals at
Ingenico Group / North America. “Further, we seek to provide the
most innovative solutions to empower merchants, and by working with
USA Technologies we’re able to meet our objective to expand the
most secure payment options to the unattended retail market.”
With this combined offering, USAT intends to provide unattended
retail operators the prospect of using Ingenico’s world-leading
seamless payment hardware via USAT’s cashless payment network.
Merchants could gain access to automatic updates to payment
software, settings, security and point-of-sale insight data through
USAT’s ePort Connect network with the ability to layer on valuable
services like consumer engagement, loyalty programs, and payroll
deduct.
“By going to market with a global leader and trusted brand like
Ingenico Group, we are able to offer vending and other unattended
retail merchants with the best-in-class payment solutions, that
accept new and emerging forms of payments like EMV, with USAT’s
ePort Connect suite of cashless payment, consumer engagement and
loyalty services,” said Michael Lawlor, Chief Services Officer, USA
Technologies. “Best of all, with Ingenico Group hardware, our
customers would be expanding the payment acceptance possibilities,
while we work to increase our presence in new market sectors where
USAT’s cashless payment technology could be utilized.”
The proposed combination of USAT’s platform of services and
Ingenico Group’s hardware could benefit a number of industries in
the unattended market including: kiosk, education, retail,
hospitality, parking and vending, among others.
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® Connect, ePort® Interactive,
QuickConnect, an API Web service for developers, and MORE. A
customizable loyalty program. USA Technologies has 77 United
States and foreign patents in force; and has 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.
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, including without
limitation the business strategy and the plans and objectives of
USAT'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 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, the ability of USAT to predict
customer demand for EMV payment options offered by Ingenico Group;
whether and when the combined offering will be commercially
available; whether the combined offering would enable USAT to enter
new market sectors; and the possibility that all of the expected
benefits and efficiencies from the proposed combined offering of
USAT’s services and Ingenico Group’s hardware will not be realized
by all vending operators and on all vending machines. 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
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version on businesswire.com: http://www.businesswire.com/news/home/20170419005292/en/
For Ingenico Group:Michael Nourie,
+1-770-298-1945Michael.Nourie@ingenico.comorFor USA
Technologies, Inc.:Media:ANW NetworksMelissa Hourigan,
+1-720-988-3856Melissa@anwnetworks.comorInvestors:The Blueshirt
GroupMike Bishop, +1-415-217-4968mike@blueshirtgroup.com
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