MALVERN, Pa.–(BUSINESS WIRE)–Dec 21, 2018–USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a premier digital payment, consumer engagement and logistics service provider for the self-service retail market, today announced an expanded agreement with Pepsi-Cola of the Hudson Valley, a locally-owned independent Pepsi franchise serving the markets of Dutchess, Orange, Putnam, Rockland, Sullivan and Ulster counties of New York State since 1946. Through the agreement, Pepsi-Cola of the Hudson Valley has agreed to install cashless payment devices on 300 additional machines, and upgrade existing cashless payment devices on 1,000 machines that are already connected to USAT’s ePort Connect Service. The customer is already utilizing Seed Pro and Seed Office for increased business efficiencies and performance improvement. Through this expanded agreement, the customer would be adding Seed Markets and Seed Delivery for a portion of its micro markets and coffee machines with the aim to better manage, simplify and optimize the company’s entire business.
Pepsi-Cola of the Hudson Valley offers full-line vending services, including snacks, cold and hot beverages, candy and frozen food items. Through the expanded partnership, Pepsi-Cola of the Hudson Valley will benefit from the reliability and security of USAT’s industry-leading cashless payment system on its customers’ machines, coupled with the power of USAT’s cloud-based vending intelligence solutions, designed to enable Pepsi-Cola of the Hudson Valley to optimize its business and increase revenues while minimizing operating costs.
“We have built our company for 72 years based on a firm commitment to improving our operations, adjusting to change, and most of all, scaling our business for growth,” said Topher Black, of Pepsi-Cola of the Hudson Valley. “This has required constantly looking to the future, bringing the best products to our customers and innovating in order to keep pace with consumer expectations. Our expanded agreement with USAT not only brings us closer to offering cashless payment options on all of our machines through the industry’s best-in-class payment platform, but delivers exceptional services to our customers while reducing operational costs on the back-end. It’s truly a win-win, and we’re thrilled to expand our partnership with USAT.”
“Pepsi-Cola of the Hudson Valley has been at the forefront of industry innovation, offering best-in-class products and services for decades,” said Anant Agrawal, EVP Corporate Development, USA Technologies. “We are so excited to be not only signing a new five-year agreement with such an exciting, forward-thinking company, but helping to expand their services to benefit from our full enterprise suite of cashless and Seed solutions – which we believe is one of the most powerful, holistic enterprise platforms in the unattended retail market.”
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 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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“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 reductions in operating costs, 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.
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CONTACT: For USA Technologies, Inc.:
Maeve McKenna Duska +1 800.633.0340
Monica Gould, +1 212-871-3927
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SOURCE: USA Technologies, Inc.
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PUB: 12/21/2018 07:30 AM/DISC: 12/21/2018 07:30 AM