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April 26, 2011 07:00 AM Eastern Daylight Time Verizon Wireless and USA Technologies Partner to Deliver Industry-Leading Cashless Payment Services, M2M Solutions for Vending and Automated Retail Industries
PHILADELPHIA--(BUSINESS WIRE)--Verizon Wireless and USA Technologies, Inc. (NASDAQ: USAT) today announced a collaboration that the companies believe will accelerate the adoption of small-ticket, wireless, cashless payment services and machine-to-machine applications via USA Technologies’ ePort Connect Service. The USA Technologies solution will now include the Verizon Wireless network for connectivity that enables wireless point-of-sale payments at vending machines via credit and debit cards.
“USA Technologies is a proven leader in the cashless payment technology space so it made perfect sense that they align themselves with a wireless service provider with unmatched reliability to help power that technology”
With more than 100,000 M2M (machine-to-machine) connections to their ePort Connect service, USA Technologies is a leading provider of small-ticket, wireless, non-cash transaction services to businesses and industries including kiosks, hospitality, digital imaging and the $43 billion vending machine industry.
Additionally, USA Technologies expects to benefit from Verizon Wireless’ Machine to Machine Management Center portal managed through nPhase, a Verizon Wireless - Qualcomm joint venture and pioneer in helping businesses ease deployment and management of M2M applications.
“Our association with Verizon Wireless aligns us with a powerful leading global brand in the wireless communications industry,” Stephen P. Herbert, President and COO, USA Technologies said. “In addition to providing our customers with the reputable service that Verizon has built its brand on, we believe that the sales agreement will enable us to increase our sales reach by having our ePort Connect cashless payments service now included in the Verizon sales toolkit. This represents an important milestone for USA Technologies as consumers continue to adapt to using credit or debit cards for small-ticket, wireless point-of-sale transactions.”
According to an industry census published by Vending Times, a trade publication that follows the vending industry, vending machines in the U.S. generated almost $43 billion in revenue in 2009.
“USA Technologies is a proven leader in the cashless payment technology space so it made perfect sense that they align themselves with a wireless service provider with unmatched reliability to help power that technology,” said Mario Turco, Regional President for Verizon Wireless in Philadelphia. “We look forward to working with them to offer a cost-effective, turnkey solution to B2B customers looking to improve efficiencies and grow sales by leveraging M2M applications that capitalize on the rapidly expanding market for non-cash payment services.”
Verizon offers wireless and wireline products and services that provide enterprise and government customers in a variety of industries with the networking capabilities they require to keep their organizations running at top speeds today and in the future. For more information about Verizon products and services for business, visit www.verizonwireless.com/business.
About Verizon Wireless
Verizon Wireless operates the nation’s fastest, most advanced 4G network and largest, most reliable 3G network. The company serves 104 million total wireless connections, including more than 88 million retail customers. Headquartered in Basking Ridge, N.J., with 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
About USA Technologies:
USA Technologies is a leader in wireless, small-ticket cashless 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 79 patents and has agreements with Visa, Compass and others. Visit our website at www.usatech.com.
