USA Technologies Holds 2010 Annual Shareholders Meeting

USA Technologies, Inc. (NASDAQ: USAT) held its annual meeting of shareholders on June 15, 2010. The full text of the speech of George R. Jensen, Jr., Chairman and Chief Executive Officer, presented at the meeting was filed with the Securities and Exchange Commission on Form 8-K on June 15, 2010.

“And our current quarter — our fiscal fourth quarter — has brought more significant performance. I am pleased to report that as of today, we have slightly in excess of 80,000 devices connected to the network,” stated Mr. Jensen. “Our last quarter — the third fiscal quarter ended March 31, 2010 — saw significant growth . . . records in gross profit dollars; records in the number of customers signing up for our solutions; records in the number of cashless connections linking to our USALive Network; and records in the number of cashless transactions processed . . 9.7 million . . . ,” said George R. Jensen, Chairman and Chief Executive Officer. “We are within striking distance of our strategic business objective of having 100,000 devices connected to our network by December 31, 2010, and we expect to achieve positive EBITDA (earnings before interest, taxes, depreciation and amortization) for that quarter.”

Mr. Jensen continued,

“As of today, we have slightly in excess of 80,000 devices connected to the network,
“As of today we are processing 130,000 transactions a day, which puts us on a rate of almost 50 million transactions a year,
“. . . Since March 31st, we added several thousand more devices to our network, and
“. . . Our ePort EDGE won the inaugural NAMA Innovation Award for the vending technology category at the April/May NAMA Expo.

“Recently, the Nilson Report, the leading source of news and research on consumer payment systems worldwide, ranked USA Technologies among the leading shippers of point-of-sale terminals in the US, and the world. Nilson stated that USA Technologies ranked sixth in the US and 34th in the world for POS shipments, alongside global giants like VeriPhone, First Data and Motorola. This is significant recognition, and we believe independent evidence of the growing demand for our ePort product line.

“What’s behind this sudden drive to cashless payments in vending? We believe it’s a combination of factors:

“. . . Our leadership in developing quality, affordable technology that responds to market needs;
“. . . Our innovative solutions that help operators finance their investments in going cashless and
“. . . Our quality services that make cashless conversion more accessible, affordable and productive to operators.

“In other words, operators are seeing how our solutions provide an easy, cost effective way to gain all of the benefits of cashless payment systems,” concluded Jensen. “. . . We predict that by December 31, 2010 . . .to have 100,000 devices connected to our USALive Network and to achieve positive EBITDA for the quarter ending December 31, 2010.”

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has been granted 76 patents and has agreements with AT&T, Visa, Compass and others. Visit our website at www.usatech.com.

Statement under the Private Securities Litigation Reform Act:

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, product acceptance, the ability to continually obtain increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether pending patents will be granted or defendable if granted, validity of its intellectual property and patents, whether our shares or publicly traded warrants would continue to meet the eligibility requirements for continued listing on the NASDAQ Stock Market, LLC; the ability to commercialize developmental products, as well as technological and/or other factors. 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, the Company 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.

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