MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ:USAT), a leader of wireless, cashless payment and M2M/IoT solutions for small-ticket, self-serve retailing industries, is announcing its ability to accept Android Pay, a new mobile payment solution that will offer consumers simplicity, security and choice when paying for items with their Android phones. Android Pay is the Android way to pay in-store and in-app.
It is now possible for USA Technologies customers to provide Android users the “frictionless” experience of paying with a smart phone at participating vending machines, kiosks, commercial laundry and other self-serve and unattended retail locations.
With approximately 210,000 customer locations, USA Technologies believes it has one of the largest footprints of NFC merchant locations enabled to accept mobile payments in the United States. The unattended markets that USAT serves represent the multiple, small-ticket purchase transactions that consumers make every day.
"We believe that Android Pay is the perfect match for self-serve retail. Making Android Pay available to millions of Android users will present what we believe to be a fundamental shift in convenience and adoption for consumers," said Stephen P. Herbert, Chairman and Chief Executive Officer of USA Technologies. "We anticipate that in 2015 more and more vending, kiosk, commercial laundry and unattended retail operators will move to cashless systems to meet this demand, and believe that USA Technologies is uniquely positioned to support them."
Cashless Payments are On the Rise
A recent 2015 USA Technologies Knowledge Base report that culls data from 100,000 top-performing terminals, shows that consumer cashless usage increased 32 percent in a one month period in 2014, to 37 percent during a similar one-month period a year later.
Mobile payment introduces an opportunity for merchants to better connect with their consumers in an unattended setting. By adding mobile payment options, self-serve or unattended retail operators can simplify the consumer purchasing experience while also getting closer to the consumer through loyalty and communication programs at participating locations.
USA Technologies began building NFC capabilities into its cashless payment products and services approximately 10 years ago and has enjoyed a steady increase in the sale of its flagship ePort cashless payments technologies specially designed for small ticket, unattended retail applications.
For more information on Android Pay, visit the Android Official Blog.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect® is the company's flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USA Technologies also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile™ for customers on the go, and QuickConnect, an API Web service for developers. USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, MasterCard and 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, 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, business, financial market and economic conditions; whether USAT's current or future customers purchase, rent or utilize ePort devices or our other products in the future at levels currently anticipated by USAT; the reliability of USAT’s 2015 Knowledge Base study to predict future increases in cashless usage by consumers; the timing and pace of adoption of Android Pay by consumers given the developing market for mobile payments; the possibility that all of the expected benefits from acceptance of payments through Android Pay, including increased sales, will not be realized by all of our customers, or will not be realized to the extent predicted and/or within the expected time period; whether USAT's customers continue to utilize USAT's transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days' notice; and the ability of USAT to accurately predict future market conditions, customer and consumer behavior. 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
