USAT Finds that Apple Pay Messaging Drives 26
Percent Increase in Overall Transactions; Consumer Usage Increases
with Prominent POS Advertising
USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment
technology provider of cashless and mobile transactions in
self-serve retail, today announced the results of a study testing
whether targeted point-of-sale advertising of Apple Pay acceptance
would increase usage of mobile payments by consumers. According to
early results, USAT believes that smartphone users shown digital
advertising at point-of-sale through the ePort Interactive platform
are more apt to pull out their iPhone to make a purchase, and even
spend more during the transaction.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160616005258/en/
ePort Interactive Apple Pay screen.
(Photo: Business Wire)
Initial findings by USAT show targeted, digital advertising
on USAT’s ePort Interactive highlighting Apple Pay availability at
point- of-sale resulted in a:
- 26% increase in overall
transactions;
- 22% increase in total revenue;
- 12% increase in total contactless
average ticket; and
- 89% increase in revenue through
contactless purchases, including Apple Pay
USA Technologies began implementing NFC technology into its
cashless payments solution approximately 10 years ago and by
January 2015, was able to provide Apple Pay users with 200,000
places to use their wallets shortly after Apple Pay launched in
October 2014. As of June 1, 2016, USAT now provides consumers with
the option to make payments using their mobile wallet including
Apple Pay at more than 300,000 NFC-equipped machines nationwide,
such as vending, single-serve coffee, laundry and parking pay
machines. As part of the study initiated in March 2016, USAT rolled
out digital advertising through its ePort Interactive platform and
digital touch-screen cashless device focusing on Apple Pay on 35
select machines in specific urban locations with a high density of
iPhone users.
“Whether an ad at point-of-sale serves as a simple reminder that
a consumer can use Apple Pay to make a purchase, or educates and
informs them of how easy, secure and private the mobile payments
service is, consumers are responding positively as they buy more
and spend more, more often,” said Maeve McKenna Duska, senior
vice president of marketing and sales, USA Technologies. “Recent
research shows that consumers are becoming more accustomed to using
their phones to make payments, particularly to
make smaller purchases where, we believe, speed and
convenience is often a top priority. We believe the unattended
markets we serve will continue to drive Apple Pay use – and that
consumer awareness campaigns at the point-of-sale are key to
accelerating adoption even further.”
A recent study by Auriemma Consulting Group found that 70% of
Apple Pay users say they are more likely to choose a store that
accepts Apple Pay. In addition, one in five smartphone users are
predicted to use mobile payments by next year, with the total value
of mobile payment transactions expected to grow 210% in 2016
according to eMarketer.
“Cracking the code on consumer engagement is critical for
retailers, and self-serve retailers are no exception,” said Tom
Murn, chief executive officer, The Answer Group, one of the
country’s largest vending companies whose machines were part of the
study. “We are thrilled with the results so far, as it shows that
consumers are not only open to receiving digital advertising at our
machines, but are also being influenced by the information we are
providing to them. As Apple Pay’s footprint continues to grow and
more retailers offer mobile payment options at point-of-sale, the
expectation will soon be that we accept Apple Pay and other mobile
wallets on every machine. By integrating digital advertising and
other consumer engagement initiatives, retailers will be able to
move beyond the transaction and be ready and able to benefit as
consumers enjoy the best user experience.”
As part of the test and learn, USAT leveraged equipment
installations that currently displayed traditional, printed Apple
Pay decals and ePort G series devices, swapping the POS hardware
with digital touch-screen hardware connected to its Interactive
platform. The test devices were preloaded with an assortment of
five different marketing messages promoting Apple Pay usage. The
test was conducted in New York City and Lafayette, Louisiana. More
cities are slated for study in months to come.
Useful Links:
USA Technologies: https://usatech.com/Twitter:
https://twitter.com/usa_techYouTube:
https://www.youtube.com/watch?v=OR-WnaPDAd4Resource Center:
https://usatech.com/resource-center/the-benefitsApple Pay:
http://www.apple.com/apple-pay/
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or
sales@usatech.com.
About ePort Interactive:
The ePort® Interactive is the industry's most advanced
cloud-based interactive media and content delivery management
system. It enables the delivery of nutritional information, remote
refunds, loyalty programs, and robust, multimedia-marketing
campaigns for the unattended and self-serve retail markets. The
platform offers PCI DSS compliant security, and supports
traditional magnetic stripe credit and debit cards, as well as NFC
(Mobile Wallet) payments including Apple Pay and Android Pay.
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 The ePort®
Interactive, which is the industry's most advanced cloud-based
interactive media and content delivery management system, as well
as its NFC- ready ePort® G-series, ePort Mobile™ for customers on
the go, and QuickConnect, an API Web service for developers. USA
Technologies has 78 United States and foreign patents in force; and
has agreements with Verizon, Visa, Chase Paymentech and customers
such as Compass, AMI Entertainment and others. 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 future
market conditions and consumer behavior; whether digital
advertising highlighting Apple Pay would result in increases in
overall transactions, revenue and/or average ticket at all or any
particular locations; the ability of USAT to operate without
infringing or violating the intellectual property rights of others;
and whether the ePort Interactive platform will encourage consumer
loyalty and drive recurring or incremental sales or accelerate
adoption. 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
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160616005258/en/
Media Contact for USA Technologies:ANW
NetworksAlicia V. Nieva-Woodgate,
+1-415-515-0866alicia@anwnetworks.comorMelissa Hourigan,
+1-720-872-8807melissa@anwnetworks.comorInvestor Contact:The
Blueshirt GroupLauren Sloane,
+1-415-217-2632lauren@blueshirtgroup.com
USA Technologies (NASDAQ:USAT)
Historical Stock Chart
From Aug 2024 to Sep 2024
USA Technologies (NASDAQ:USAT)
Historical Stock Chart
From Sep 2023 to Sep 2024