Message #26 From:
Stock News Bot Date: November 6, 2006 09:23:00 AM
USAT News USA Technologies Unveils e-Port G6 at World's Largest Payments Trade Show in Paris
MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies (OTC Bulletin Board:USAT) will unveil the e-Port
Generation Six (G6) cashless payment technology in Paris this week at
CARTES 2006, the world’s biggest trade show
for the smart card, identification and credit card industry.
The Company announced today the e-Port G6 would be showcased at CARTES
by two of its global business partners -- On Track Innovations Ltd
(OTI), a leader in contactless microprocessor-based smart card
solutions, and ViVOtech, a company that specializes in contactless
payments for Near Field Communications (NFC) enabled mobile phones and
PDAs for point of sale terminals.
“CARTES will mark USA Technologies’
entry to the global market with our cashless payment technology for
vending machines, kiosks and point of sale terminals,”
said Wendy Jenkins, Vice President, Marketing, USA Technologies. “We
have meetings scheduled with International manufacturers, banks and
credit card companies, interested in expanding into the global self
service point of sale markets,” she said.
There are more than 30 million vending machines worldwide, representing
a business in excess of $100 billion.
CARTES 2006 will feature global exhibitors from 130 countries, with an
expected 18,000 visitors, including government and industry leaders and
decision makers.
The unveiling in Paris follows the e-Port’s
success at the recent NAMA Expo in Orlando, Florida, the U.S. vending
industry’s biggest trade show. It also comes
after the announcement that Bank of America was using the e-Port in
vending machines to become the first bank to enter the cashless vending
market.
“With the major card companies in America
targeting vending for cashless micro payments, and now Bank of America
entering the cashless vending space, global interest in our card
transaction technology is growing,” said Ms.
Jenkins. “There has never been a better time
to market our solutions internationally, and there is no more
influential trade show than CARTES.”
The e-Port G6 was designed by USA Technologies to accept all forms of
cashless payment devices, from traditional magnetic swipe credit and
debit cards, to radio frequency (RF) cards and devices. Recently, the
first 1000 Coca-Cola vending machines equipped with the e-Port G6 were
deployed in the Philadelphia region to accept MasterCard’s
RF PayPass contactless card payment system. Bank of America is using the
same technology in its vending program.
While in Paris, USA Technologies officials will meet with potential
partners to deliver its products and services outside the U.S. Company
officials will also discuss the most recent USA Technologies’
vending survey confirming that consumers, on average, purchase products
that cost 32% more.
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash
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. USA Technologies is an IBM Business Partner.
The Company has marketing agreements with Cingular Wireless, Honeywell,
Blackboard, and ZiLOG Corporation. For further information on USA
Technologies, please visit www.usatech.com
Statement under the Private Securities
Litigation Reform Act:
With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements
that involve risk and uncertainties that may individually or mutually
impact the matters herein described, including but not limited to, the
ability of the Company to increase revenues in the future due to the
developing and unpredictable markets for its products, the ability to
achieve a positive cash flow, the ability to obtain orders for its
products , the ability to obtain new customers and the ability to
commercialize its products, which could cause actual results or revenues
to differ materially from those contemplated by these statements.
