Today, USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a premier digital payment, consumer engagement and logistics service provider for the self-service retail market, announced it successfully demonstrated USAT’s end-to-end enterprise software during NAMAs Coffee, Tea and Water Show (CTW) in New Orleans November 12-14. CTW is the worlds largest coffee services event and aims to deliver insight into the workplace by showcasing new technologies and industry trends that are impacting business and driving change in U.S. coffee services, which NAMA estimates to be a $4.25 billion industry.
With nearly a million connections to its state-of-the-art ePort Connect payment platform, USA Technologies offers what it believes to be the industrys first true integrated end-to-end enterprise platform for the unattended retail market, designed not only to increase sales by bringing digital payment options to unattended retail locations including coffee services, but also to decrease operational costs by giving customers the ability to run their businesses in a more efficient and competitive way.
USA Technologies highlighted its Seed Delivery software, which enables OCS operators to replace paper-based invoices with iPads, postage with email, and phone ordering with self-service Web ordering. For operators with both vending and OCS businesses, Seed Delivery is available as an add-on to Seed Office, USA Technologies cloud-based vending management system. The “delivery” component eliminates the need for on-premise servers, as well as the need for paper invoicing and statements. Operators can also leverage online ordering using Seed Delivery without the need for costly IT integration.
Several channel partners, including Bunn and Coffea Technologies, featured USA Technologies cashless payment solution in their booth during the show. Founded upon five generations of family entrepreneurship, Bunn is headquartered in Springfield, Illinois with support from five additional United States locations, as well as warehouses or offices in Canada, Mexico, Brazil, Germany, China, UAE and the United Kingdom. Coffea Technologies is the inventor and exclusive patent holder of the limitless vacuum extraction brewing method. Manufactured in North America, Coffea designs and distributes commercial brewing equipment for the Hospitality, Restaurant and OCS markets around the world.
We believe coffee services is a cornerstone of the unattended, self-serve retail industry, and is in a state of increasing innovation, said Michael Lawlor, Chief Services Officer, USA Technologies. As we saw at this weeks CTW, coffee services companies are looking for next-generation technologies to streamline processes, cut costs and increase sales. We were excited by the interest we saw in USAT, and it indicates the industrys continued momentum toward modern, innovative, end-to-end solutions.
According to the 2017 State of the Office Coffee Industry report by Automatic Merchandiser, the office coffee industry alone represents $5.1 billion in revenues and remains one of the strongest segments in the workplace refreshment industry post-recession, with sales increasing for 68.4% of the operators in 2016.
Last year, USAT completed the acquisition of Cantaloupe Systems, which includes its Seed Office and Seed Pro services, adding logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management to its existing portfolio of cashless payment, loyalty and consumer engagement services. The combined portfolio is designed to provide an enterprise system for self-service unattended retail businesses, including coffee services.
Founded in 1936, NAMA is the association representing the $25 billion U.S. convenience services industry. With more than 1,000 member companies “ including many of the worlds most recognized brands “ NAMA provides advocacy, education and research for its membership. Visit www.namanow.org.
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 its NFC-ready ePort G-series, ePort Mobile for customers on the go, ePort Interactive, and QuickConnect, an API Web service for developers. Through its acquisition of Cantaloupe Systems, Inc. (“Cantaloupe”), the company also offers logistics, dynamic route scheduling, automated pre-kitting, responsive merchandising, inventory management, warehouse and accounting management solutions. Cantaloupe is a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee services.
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Sales and Partnership Inquiries: Please contact USA Technologies, Inc. at +1 800.633.0340 or [email protected].
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 USATs 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 USATs management, as well as assumptions made by and information currently available to USATs 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 third-party studies to predict future market conditions, consumer behavior and trends in sales across all of USAT’s customer locations; and the possibility that all of the expected benefits and efficiencies from cashless payment services, including increases in revenue and reductions in costs, 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.
For USA Technologies, Inc.:
Maeve McKenna Duska +1 800.633.0340