       |
|
USA
Technologies Chooses ViVOtech to Provide Contactless Payment Readers
for e-Port®
Joint
Solution Enables Vending Market with Contactless and NFC Mobile
Phone Payment Capabilities
MALVERN,
PA AND SANTA CLARA, CA, December 19, 2007 — USA Technologies
(NASDAQ: USAT) announced today that ViVOtech, leader in contactless
payment reader and NFC mobile phone payment technologies, would
provide the contactless payment readers for USAT’s e-Port
contactless technology.
The
company reported that ViVOtech had designed and manufactured the
most efficient and consumer friendly Near Field Communication (NFC)-powered
contactless payment reader to activate its e-Port technology when
installed in vending machines. ViVOtech payment contactless readers
enable vending machines to accept payments from contactless credit,
debit or prepaid cards and fobs as well as NFC-powered mobile phones.
“USA
Technologies is an emerging world leader in cashless and contactless
payment technology for intelligent vending, and with major credit
card companies breaking into the $46 billion vending market utilizing
e-Port, we see significant growing demand for our contactless payment
readers,” said Mohammad Khan, President and Founder of ViVOtech.
USA
Technologies has already purchased more than 2,000 contactless payment
readers from ViVOtech, and is following up with another order of
8,000 to be delivered in 2008. These readers accept all major credit
cards (MasterCard, Visa, American Express and Discover) with both
magnetic swipe and contactless technologies.
“ViVOtech
has proven it has the global industry knowledge and thought leadership
to ensure that together we deliver to vending customers the most
superior contactless payment technology available,” said Stephen
P. Herbert, President and COO, USA Technologies Inc. “ViVOtech
knows and understands the traditional cashless market, as well as
the emerging self-service markets we are targeting, and by combining
our technologies, we believe we offer a service unequalled in the
vending and POS industries.”
“The
adoption of contactless payments is growing worldwide as more retail
customers embrace new technologies that ensure a quick, easy and
secure way to pay, and we are delighted to be working with USA Technologies
to develop new technologies to open up the vending industry to contactless
card and NFC mobile phone purchases,” said Mr. Khan.
To
make a cashless transaction at contactless vending machines, consumers
need only tap their credit card on the e-Port terminal. The terminal
flashes a light, displays a message and produces a tone to signal
the completion of the transaction in seconds. No signature is required.
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. The Company has marketing agreements with Cingular
Wireless, Honeywell, Blackboard, MasterCard and others. For further
information on USA Technologies, please visit www.usatech.com.
About
ViVOtech
ViVOtech is the market leader in Near Field Communication (NFC)
mobile payments, promotions, and over the air (OTA) provisioning
infrastructure software, transaction management software, NFC smart
posters, and Contactless terminals. These innovative solutions allow
millions of consumers to make Contactless payments with radio frequency-enabled
credit/debit cards, fobs, and NFC mobile phones. ViVOtech's products
are used by the most prominent retailers all over the world. With
more than 330,000 units deployed in 27 countries, ViVOtech products
are used at movie theaters, fast food restaurants (QSR), casual
dining establishments, convenience stores, gas stations, drug stores,
grocery stores, buses, taxicabs, kiosks and vending machines, enabling
a wide variety of businesses to accept Contactless/NFC payments
and promotions. ViVOtech is privately held, investors include First
Data Corporation, Motorola, NCR, Nokia, Alloy Ventures, Draper Fisher
Jurvetson, and an undisclosed Fortune 500 company. For more information
about ViVOtech’s innovative solutions please visit http://www.vivotech.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 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.
USA
Technologies Contact:
George Jensen, Chairman & CEO
Stephen P. Herbert, President & COO .
Phone: (800) 633-0340
e-mail: sherbert@usatech.com
Investor
Relations Contact:
Gary Nash
CEOcast, Inc.
Phone: (212) 732-4300
ViVOtech
Editorial Contact:
Kristin Miller
SS|PR representing ViVOtech, Inc.
kmiller@sspr.com
(719) 634-8292
|
