MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (OTC: USAT) ("USAT"), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today announced that National Entertainment Network, LLC, (“NEN”) signed an agreement to expand its relationship with USAT. The agreement provides for the deployment of USAT’s NFC-capable ePort Connect® cashless payment system on 5,000 of NEN’s game room entertainment and bulk confection vending machines over twelve months, subject to the terms and conditions of the agreement. 1,800 devices have already been shipped. Prior to this agreement, NEN had deployed ePort Connect on 400 of its machines.
Headquartered in Broomfield, Colorado, NEN describes itself as the largest front-end retail and entertainment vending company in the nation, operating more than 50,000 pieces of amusement and entertainment equipment including skill cranes, kiddie rides, video game kiosks and customized game rooms in over 18,000 of the most popular retail and restaurant locations throughout the United States and Puerto Rico. NEN’s machines equipped with ePort devices will be able to accept cash, credit/debit cards, and contactless payments made using various methods, including mobile wallet payments such as Google Pay and Apple Pay, as well as with QR codes, which will be accepted using QR code readers, which support the company’s consumer-facing digital marketing strategies. The technology will be showcased in USAT’s booth #3433 during the IAAPA Expo in Orlando, Florida November 18-22.
“For more than 30 years, NEN has grown its business by bringing the best service and most innovative amusement machines to our customers, while keeping pace with the changing needs and preferences of consumers,” said Jim Sevalt, President and Chief Operating Officer of NEN. “We are thrilled to expand our agreement with USA Technologies. Their ability to bring customized solutions that integrate seamlessly with our digital marketing initiatives will enable us to better tailor programs to drive additional traffic to our machines as well as customer’s stores. It also enables us to offer the best, most agile, secure, and proven cashless payment solutions on the market. We are already seeing increasing sales on machines equipped with ePort Connect, and we look forward to further deployment as we lead this growing industry toward a cashless future.”
“Similar to vending and other unattended retail channels, the amusement and entertainment industry has increasingly been evolving toward adoption of cashless payments. Our expanded agreement with NEN, which is one of the largest and most recognized entertainment companies in the country, is a testament to the benefits of ePort Connect, and the power that comes with being able to better capture and understand every transaction,” said Michael Marett, SVP Market Development, USA Technologies. “We are proud to help NEN continue its tradition of innovation through our next-generation payment platform. Through ePort Connect, we are not only enabling NEN to more effectively manage its business, but also bringing consumers more personalized engagements, in line with their expectations.”
About USA Technologies, Inc.
USA Technologies, Inc. is a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market. With more than one million connections worldwide, USAT is transforming the unattended retail community by offering one solution for payments processing, logistics, and back-office management solutions. The company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and their inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, car charging stations, laundromats, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.
About National Entertainment Network
National Entertainment Network (NEN) is the largest front-end retail and entertainment vending company in the nation, headquartered in Broomfield, Colorado. NEN defines amusement vending entertainment with a diverse first-tier entertainment/confection portfolio of products operating 50,000 machines in over 18,000 of the most popular retail and restaurant locations throughout the United States and Puerto Rico. For over 30 years, NEN, a category leader in innovation and technology, continues to focus on clients by providing quality entertainment for their customers and patrons.
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
National Entertainment Network: https://www.nen-inc.com/
Facebook: https://www.facebook.com/Sugarloaftoys/
Instagram: https://www.instagram.com/sugarloaftoys/
Twitter: https://twitter.com/NENSugarloaf
For machine placements or sales inquiries, please contact NEN at +1 866.902.0595 or sales@nen-inc.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 the Company may ship fewer than 5,000 devices if a required technical integration between USAT’s devices and NEN’s machines is not completed in a timely manner; and the possibility that all of the expected benefits and efficiencies from customized cashless payment services, including opportunities for increases in sales, will not be realized by all vending operators and on all vending machines or within the expected time period. 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
