Message #18 From:
NewsBot Date: November 1, 2005 04:20:00 AM
USTT News USA Technologies Reports on Major Developments at Vending Industry Trade Event
MALVERN, Pa.--(BUSINESS WIRE)--Nov. 1, 2005--USA Technologies (OTCBB:USTT) announced today it successfully showcased its Intelligent Vending(R) Products at the National Automatic Merchandising Association (NAMA) Expo October 27-29, 20005, in Atlanta, GA.
USA Technologies had its biggest ever presence at the conference displaying new strategies to make the Company's e-Port(R) cashless transaction services more accessible for vending operators and bottlers, as well as a complete array of its Miser energy management technology. USA Technologies promoted its e-Port and Miser technology with the theme "The Growing Power of Intelligent Vending."
At the Expo, USA Technologies highlighted the many options to connect to their e-Port cashless vending service allowing vending operators and bottlers to offer their customers the ability to make purchases using their credit or debit cards. Industry leaders including MasterCard, MEI and CoinCo have all selected USA Technologies to offer the e-Port cashless services to their customer base.
"In addition to our e-Port G-5, we highlighted hardware platforms from industry leaders such as MEI, CoinCo, MasterCard and VIVOtech," said Stephen P. Herbert, President and COO, USA Technologies. "The core of our business is to offer our e-Port services and by working with these leaders in the payments industry, we expect to be able to grow our business faster than ever in the $40 Billion vending industry." Click on the following link to see pictures of the Company's products deployed in conjunction with many of the leading consumer product companies: www.usatech.com/company_info/news/downloads/NAMA2005_USATech.pdf.
USA Technologies and MasterCard announced last week that the companies have come together to provide a faster and more convenient payment option for use at vending machines. USA Technologies' e-Port(R) cashless payment and networking services, together with the MasterCard(R) PayPass(TM) contactless payment solution, will provide consumers with a welcome alternative to cash and coins. Click on the following link to view the PayPass demonstration videos: www.usatech.com/company_info/news/usa_2005_05_25paypassvideo.php
Following successful trials conducted at MasterCard's corporate facilities, USA Technologies and MasterCard have begun to roll out more than 500 vending machines throughout New York City and Atlanta, Georgia that are specially equipped to accept MasterCard PayPass. Click on the following link for last week's joint press release between MasterCard and USA Technologies: www.usatech.com/company_info/news/usa_2005_10_26.php.
Among the first installations of MasterCard's new e-Port powered PayPass solution for the vending industry was the Georgia World Congress Center in Southern Refreshment's Market Central vended dining destination. "We are pleased to be leading the vending industry in this exciting new initiative from MasterCard and USA Technologies. Over the next weeks we will be developing with them the business case that will allow our company to offer our accounts, both today's and tomorrow's new customers, a substantial competitive advantage by choosing our special, unique combination of best equipment, best products and best service in their market place" said Alan Plaisted, President of Southern Refreshment Services.
The Company showcased its full line of Miser energy management products for vending. The VendingMiser(R), SnackMiser(TM) and VM2IQ(TM) reduce energy consumption in vending machines by as much as half.
"The President is calling on the nation to conserve energy and utilize energy conservation technology, and our Miser products can have an immediate impact," said Mr. Herbert. "Already Federal and State Government agencies, as well as private sector companies are major users of the technology, and increasingly, the nation's most progressive energy utilities are offering rebates to customers who purchase the technology," he said.
USA Technologies executives and company management also participated in the NAMA conference agenda as industry experts speaking on intelligent vending and emerging trends and technologies.
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, MEI, 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 from operations, the ability to obtain operating profit, the ability to obtain orders for its energy management 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.
