USA Technologies, Inc.
Nov 28, 2017

Lincoln County Vending Commits to Cashless Payment Acceptance on 100% of Machines

Expanded Agreement Includes Premium Support Service Offerings

MALVERN, Pa.--(BUSINESS WIRE)-- USA Technologies, Inc. (NASDAQ:USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today announced Lincoln County Vending has agreed to expand its relationship with USAT to a strategic partnership and upgrade additional machines to ePort Connect®. To date, with approximately 95 percent of the additional deployment completed, Lincoln County Vending has seen a migration of 23 percent of its average machine sales to cashless usage.

Lincoln County Vending, a Canteen Franchisee, is a premier vending company in the southern and middle Tennessee area, providing a variety of brand name products from snack, beverage, and food machines to businesses in Fayetteville and surrounding areas. Through USAT, Lincoln County Vending will now accept cash, credit/debit cards, and contactless payments, including mobile wallet payments such as Android Pay and Apple Pay, through its NFC-capable ePort Connect® cashless payment system.

"For twenty years, we have remained committed to bringing our customers the most advanced technology, the best products customized to their needs, and the best service possible," said Kevin Posey, operations manager for Lincoln County Vending. "Enabling consumers to pay with their preferred payment method, whether it be card, mobile phone or cash, doesn't just ensure we are delivering on that promise, but makes sound business sense. By equipping our machines with USAT's ePort Connect, we are already seeing an increase in sales, while gaining greater visibility into purchase behavior of our consumers to ensure we're meeting their needs. Deployment has been fast and easy, and we couldn't ask for a better partner than USA Technologies."

As part of the agreement, Lincoln County has signed up for USAT's Premium Support Service offerings, which provides customers access to a bundle of best-in-class support services including deployment planning, project management, installation support, training, tools specific to the marketing of cashless programs, and marketing support/consultation, mobile payment and loyalty programs and, in some cases, funding support.

"Lincoln County Vending is a perfect example of the kind of innovative, customer-minded companies joining our roster of retailers choosing to offer cashless payment options on every one of their machines," said Maeve McKenna Duska, senior vice president of Marketing, USA Technologies. "We look forward to continuing to help Lincoln County Vending improve businesses processes, increase efficiencies and grow revenue in ways we believe are possible through ePort Connect."

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Sales and Partnership Inquiries:

Please contact USA Technologies, Inc. at +1 800.633.0340 or sales@usatech.com.

About USAT's Premium Support Service:

USAT's Premium Support Service bundles USAT's best-in-class services to ensure the most effective deployments of USAT's cashless technology through cohesive planning that maximizes returns. Services include USAT's Model Market program for planning, project management, installation support, and marketing support; integration of deployment planning, installation and performance optimization; access to USAT's flagship Knowledge Base data; and customized reporting in support of deployment, and DEX project management. USAT's Premium Support Service is available to customers that have made a commitment to connect a significant portion of their locations to USAT's service.

About ePort Connect®:

USAT's ePort Connect service is a PCI-compliant suite of cashless payment and telemetry services specially tailored to fit the needs of self-serve retail industries. Designed to be a "one-stop shop," services offered through ePort Connect include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24 x 7 customer service and a host of value-added services including mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.

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. USA Technologies has 76 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others. The company recently acquired Cantaloupe Systems, Inc. a premier provider of cloud and mobile solutions for vending, micro markets, and office coffee service. For more information, please visit the website at www.usatech.com.

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 and rate of migration of average machine sales to cashless usage, 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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Source: USA Technologies, Inc.

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