Coca-Cola Bottler First to Install Smaller, More Affordable e-Port(R) Cashless Technology
Thursday October 7, 6:00 am ET
MALVERN, Pa., Oct. 7 /PRNewswire-FirstCall/ -- USA Technologies Inc, (OTC Bulletin Board: USTT - News) today announced the completion of the smaller, less expensive new Generation 5 e-Port® cashless transaction device and that one of the biggest Coca-Cola bottlers is already installing it.
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"It costs less because it's one piece, smaller, quick and easy to install, and already customers who are Beta testing it are reporting success," said George R. Jensen, Jr., Chairman of the Board and CEO, USA Technologies Inc. "The simplicity of installation, the ability for the unit to connect via a wireless connection and the lower cost are some of the changes USA Technologies made to make it even easier for operators to start accepting credit cards and other forms of cashless payments," he said.
"Our experience with USA Technologies' newest e-Port has been very encouraging. It's easy to install, and from all angles, looks to be a great stride forward for the e-Port product line," said Dominic Celenza, Vice President of Cold Drink Sales, Coca-Cola Philadelphia.
The G5 e-Port is believed by USA Technologies to be the world's first 'one-piece' design for implementation of cashless vending. The new technology can be installed into a vending machine in five minutes or less. It also comes with wireless connectivity, instantly enabling a vending location to accept credit/debit card transactions.
As with earlier versions of the e-Port device, IBM will host USALive(TM), which is the Company's transaction processing and data network. With USALive Online(TM), USA Technologies' customers have real-time, web-based access to sales (cash and credit), inventory and maintenance data from their vending machines.
"We are entering an exciting period for USA Technologies because the G-5 e-Port promises to rapidly become a significant contributor to our anticipated growth," said Mr. Jensen. "The G-5 Beta implementations have been a resounding success, and in general, customer reaction to the product has been outstanding."
The smaller, less expensive e-Port promises to further accelerate the emergence of cashless vending by offering greater return on investment. The improved 'payback' to owners and operators will be in the form of the reduced overall cost, driven by a lower purchase price, reduction in installation time and cost, and improved serviceability.
"We feel the G5 e-Port is a major milestone for our Company, and will further accelerate sales growth and opportunity for USA Technologies. The lower cost and convenience of the latest e-Port is expected to accelerate the adoption of cashless industry wide. We believe that it won't be long before most vending machines offer consumers both cash and cashless payment options," said Mr. Jensen.
The Generation 5 e-Port is one of the products made possible by the recently announced revolutionary networking application that combines USA Technologies' e-Port® software for global transactions with ZiLOG's Award Winning eZ80Acclaim!(TM) Family of Flash microcontrollers (MCU's). The Companies have worked together in this regard pursuant to a five-year Strategic Alliance.
To see the simple installation of the G5 e-Port System, go to http://www.usatech.com/news/usa_2004_10_07video.php.
About USA Technologies:
USA Technologies is a leader in the networking of distributed assets, 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 and an inaugural member of the Sprint Enabling Application Service Provider Program for e-commerce. The Company has marketing agreements with Sprint, Motient, MEI, Unilever and ZiLOG Corporation. http://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 or install its products including the G-5 e-Port, 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.
USA Technologies Contact: Investor Relations Contact:
George R. Jensen, Jr., Chairman & CEO, Ken Sgro
Stephen P. Herbert, President & COO, CEOcast, Inc.
(800)633-0340 (212)732-4300
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