MALVERN, Pa.--(BUSINESS WIRE)--
USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a premier digital payment, consumer engagement and logistics service provider for the self-service retail market, today announced that Pepsi Bottling Ventures (PBV), the largest privately-held bottler for Pepsi-Cola products in North America, signed a multi-year agreement for USAT’s ePort Connect Service. The agreement includes deployment of the ePort cashless payment system on 13,000 machines, as well as the option to add Seed Pro and Seed Office software. The complete end-to-end enterprise solution would enable PBV to provide cashless payments, improve customer service and route efficiency and reduce the company’s carbon footprint.
Pepsi Bottling Ventures (PBV) is the largest privately-held bottler for Pepsi-Cola products in North America – manufacturing, selling, and distributing some of the world’s most recognized consumer brands. PBV operates , serving over eight million consumers in North Carolina, South Carolina, Virginia, Maryland, and Delaware. Corporate offices are located in Raleigh, North Carolina.
“An important part of PBV’s mission is to provide “best-in-class” customer service to our clients,” said Randy Quirk, Vice President of Food Service, Pepsi Bottling Ventures. “To meet this challenge, we needed to look at leveraging best-in-class technology to improve the consumer experience while also increasing our own performance and efficiency. We have long recognized the value of adding cashless payments to our vending machines, but were also looking to drive operational efficiencies. USA Technologies was able to offer a comprehensive solution from a single platform that allow us to achieve all our goals. USA Technologies’ extensive scale and experience also gave us the confidence to know we were picking the right partner to work with.”
“PBV is built on its reputation for product quality, superior service, and unparalleled support. Their move to equip 13,000 of their machines with state-of-the-art ePort cashless payment technology underscores their commitment to these basic tenets and provides consumers with their preferred method of payment – be it credit card, debit card, or mobile wallet - for increased speed, convenience and satisfaction,” said Michael Lawlor, Chief Services Officer, USA Technologies. “The team at PBV has long recognized the value of digital payment technology but wanted to ensure they had the best solution for their business. Once USAT was selected as their partner of choice, they were swift to place a large-scale order for maximum impact.”
“PBV represents a new customer for USAT, and is a great example of the kind of forward-thinking, success-oriented customers moving a substantial portion of their machines onto the USAT platform for cashless and operational benefits,” said Mr. Lawlor. “USAT is proud to have earned their confidence and eager to help PBV quickly enjoy the top-line benefits that we expect will result from our work together.”
USAT’s industry-leading ePort cashless payment system brings reliable, secure, and proven cashless payments to its customers’ machines. Seed Pro is a patented, cloud-based analytics system that delivers easy-to-use dynamic scheduling, accurate pre-kitting, smart alerts, and optimized merchandising. The Seed Office solution is a cloud-based and mobile-optimized vending management system (VMS) for backoffice management of key functions such as product accountability, sales reconciliation, and asset tracking.
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 recent 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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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; and the possibility that all of the expected benefits and efficiencies from cashless payment services, including increases in revenue, 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
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