Moves To Offer Cashless Payments on 100% of
Machines That Can Be Configured For Cashless
USA Technologies, Inc. (NASDAQ:USAT), 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 Burch Food Service
(Burch), a Canteen franchisee.
Over the last 30 years Burch Food Service has grown to become
one of the country’s premier independently owned foodservice and
vending providers, with operations spanning Missouri, Arkansas,
Tennessee, Kentucky and Illinois. USAT is currently upgrading more
than 1,000 of the company’s 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 contactless payments, including mobile wallet payments such as
Android Pay and Apple Pay, through its NFC-capable ePort Connect®
cashless payment system. With the deployment nearly complete,
Burch, based on a recent one-month study, reported cashless usage
at 31 percent for existing machines and 26 percent for new
machines. Burch also reported a 17 percent topline growth in
transaction dollars on machines connected to USAT devices between
June, 2015 and June, 2016.
“As more consumers demand card and mobile payment capabilities
at point-of-sale, expanding our partnership with USAT to add
cashless to every machine enables us to offer the most superior
payment options to our consumers,” said Steven Burch, President and
CEO, Burch Food Services. “Over the years we have established a
reputation for offering the best products and most innovative
solutions to our clients, providing the best possible consumer
experience. Our goal is to ensure we are doing it in the most
effective, efficient way that drives usage and increases revenues.
We are already seeing the benefits of cashless through increased
cashless sales, and we expect this upward trend to continue as we
move toward completing the deployment.”
As part of the agreement, Burch has signed up for USAT's Premium
Support Service offerings, which provides customers access to a
bundle of best-in-class support services including deployment
planning, project management, installation support, training, tools
specific to the marketing of cashless programs, and marketing
support/consultation, mobile payment and loyalty programs and, in
some cases, funding support.
With USAT’s backing, the Burch team took an aggressive and
collaborative approach to the marketing of their newly enhanced
program from an overhaul of the company’s website, to a strategic
communication plan for the new payment options using USAT's Go
Cashless program, an educational, point-of-sale marketing program
designed to help operators effectively roll out cashless
transaction technology. USAT believes that, through these efforts,
Burch was able to cut the adoption curve for the new technology.
Typically it takes 18 months for an unattended operation to get new
equipment to 28 percent cashless. Within five months of deployment,
the average monthly cashless usage at Burch’s equipment is at 26
percent.
Burch also worked with USAT to enable campus card acceptance at
a local university - adding acceptance for closed-loop campus ID
cards running on the Blackboard system to allow purchases at
Burch’s on-campus vending machines. Now in addition to cash,
machines on campus accept campus cards, credit and debit cards, as
well as mobile payments. Following conversion of those on-campus
machines to accept additional payment methods, and based on early
studies, average cashless usage was at 51 percent.
"We believe that Burch has built its reputation and business by
focusing on the needs of its clients and consumers with smart,
innovative solutions, and this deployment is no exception,” said
Michael K. Lawlor, Chief Services Officer, USA Technologies. “From
the beginning, we worked in partnership with Burch to ensure the
deployment was strategic, and we saw very good results on many
machines. By using our Go Cashless marketing program, taking
advantage of our premium services offerings and extending payment
solutions to campus cards, Burch is offering its customers a
seamless payment experience. The company is a great example of how
an unattended operation can transition to 100 percent cashless on
machines that can be configured to accept cashless devices the
right way.”
Useful Links:
USA Technologies: https://usatech.com/
Twitter: https://twitter.com/usa_tech
YouTube: https://www.youtube.com/user/USATechnologies
Resource Center:
https://usatech.com/resource-center/the-benefits
Sales and Partnership Inquiries:
Please contact USA Technologies, Inc. at +1 800.633.0340 or
sales@usatech.com.
About USAT’s Premium Support Service:
USAT’s Premium Support Service bundles USAT’s best-in-class
services to ensure the most effective deployments of USAT’s
cashless technology through cohesive planning that maximizes
returns. Services include USAT’s Model Market program for planning,
project management, installation support, and marketing support;
integration of deployment planning, installation and performance
optimization; access to USAT’s flagship Knowledge Base data;
profitability calculation; and customized reporting in support of
deployment, inventory and DEX project management. USAT’s Premium
Support Service is available to customers that have made a
commitment to connect a significant portion of their locations to
USAT's service.
About ePort Connect®:
USAT's ePort Connect service is a PCI-compliant suite of
cashless payment and telemetry services specially tailored to fit
the needs of self-serve retail industries. Designed to be a
"one-stop shop," services offered through ePort Connect include
wireless and merchant account setup, simplified processing rates,
settlement and reconciliation, 24 x 7 customer service and a host
of value-added services including mobile payment, loyalty programs
and integrated payment services for micro-markets and other POS
devices.
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 Mobile™ for customers on the go, ePort®
Interactive, 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. 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 future
market conditions and consumer behavior; the possibility that all
of the expected benefits and efficiencies from adoption of the
ePort Connect cashless payment service, including telemetry,
cashless and NFC, will not be realized by all vending operators and
on all vending machines or within the expected time period;
whether, and how much, aggressive marketing efforts can cut the
adoption curve for cashless payments; whether average cashless
usage will increase with time on every machine; and whether the
ePort cashless products and services will encourage consumer
loyalty and/or drive recurring or incremental sales. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161017006430/en/
USA TechnologiesMedia Contact:ANW NetworksEmily F.
Porro, +1 347-346-3663emily@anwnetworks.comorInvestor
Contact:Blueshirt GroupMichael Bishop, +1
415-217-4968mike@blueshirtgroup.com
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