USA Technologies Improves Ranking as Leading Global Shipper of POS Terminals
September 08 2010 - 7:30AM
Business Wire
USA Technologies, Inc. (NASDAQ: USAT) announced today that the
company has improved its ranking among the world’s leading shippers
of point-of-sale (POS) terminals.
The Nilson Report, a leading source of research on consumer
payment systems worldwide, ranked USA Technologies 31st in the
world in 2009 after finishing 34th for the previous two years.
Nilson also ranked USA Technologies 6th among the leading POS
shippers in the United States for the third successive year.
"Recognition of our award-winning ePort cashless payment
technology, designed specifically for unattended locations, such as
vending machines and kiosks, is growing alongside global giants in
the industry such as VeriFone, Ingenico, Hypercom, First Data/Link
Point,” said Stephen P. Herbert, President and COO, USA
Technologies. “We continue to be a leader in wireless, unattended,
small-ticket cashless transactions, with more than 82,000 cashless
devices now connected to our ePort Connect Service as of June 30,
2010.”
“We believe that the global economy is still challenged, yet we
believe that demand for our unique, turn-key cashless hardware and
services is continuing because it offers consumers greater ease and
convenience, lowers costs for operators through improved
efficiencies and increases sales and revenue with an additional way
to pay,” Herbert continued. “Over the past 12 months we have seen
our customer base grow from 525 to more than 1,000 customers—an
approximate 100% increase.”
USA Technologies’ ePort Connect service provides the only
one-stop shop for wireless, unattended cashless transactions
technology, handling everything, from account set-up and
management, to 24x7 customer support.
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 77 patents and has agreements with AT&T, Visa, Compass
and others. Visit our 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 financial position, anticipated connections to our
network, business strategy and the plans and objectives of the
Company'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 the Company or its management, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of the Company's management, as well as
assumptions made by and information currently available to the
Company'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, business, financial
market and economic conditions, including but not limited to, the
ability of the Company to retain key customers from whom a
significant portion of its revenues is derived; the ability of the
Company to compete with its competitors to obtain market share; the
ability of the Company to obtain widespread commercial acceptance
of it products; whether the Company's existing or anticipated
customers purchase ePort devices in the future at levels currently
anticipated by the Company; or whether our shares or publicly
traded warrants would continue to meet the eligibility requirements
for continued listing on The NASDAQ Stock Market, LLC. 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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