Key Developments For USA Technologies, Inc.
USA Technologies, Inc. (USAT.O) (Consolidated Issue listed on NASDAQ Global Market)
US Patent Office Issues Patent To USA Technologies, Inc.
USA Technologies, Inc. announced the issuance to it by the US Patent Office of a patent that covers the cashless wireless payment trends sweeping the vending industry. The patent for invention number 7,593,897 is for a wireless system for communicating cashless vending transaction data and vending machine audit data to remote locations.
Compass Group Selects USA Technologies, Inc. As Their Leading Provider Of Cashless Vending Systems
USA Technologies, Inc. announced that it had signed a three year supplier agreement with Compass Group and their Canteen Vending Services division to bring the convenience of cashless vending to Canteen customers in the United States. Compass Group selected USA Technologies as its provider of cashless vending systems hardware, related software and services for a period of three years.
USA Technologies, Inc. Receives Intelligent Vending Amended Patent
USA Technologies, Inc. announced the receipt from the US Patent Office of an amendment to an important patent relating to its ePort Intelligent Vending product line. The ex parte reexamination certificate for patent number 6,505,095 relates to the Company's invention for a system to provide remote audit, cashless payment and interactive transaction capabilities in a vending machine. The patent which had been issued in 2003, was submitted by the Company to the US Patent Office in 2007 for reexamination, and now encompasses the prior claims as well as twelve new claims for a total of 43 claims.
USA Technologies, Inc. Signs Amendment Agreement With Visa To Expand Deployment Of ePort Cashless Payment Solution
USA Technologies, Inc. announced the signing of an amendment to its existing agreement with Visa to expand the deployment of its ePort cashless payment solution for vending machines by another 2,500 terminals, for a total of up to 4,000 terminals, that are expected to be installed in markets nationwide.
USA Technologies, Inc. Announces Launch Of Four New Products
USA Technologies, Inc. announced that it has launched the new fiscal year with four new products designed to bring greater convenience and efficiency to the self serve industry, and a purchase agreement with Foodbuy, LLC (Foodbuy), the procurement company for Compass Group USA, Inc. (Compass), the vending operator. The Company has entered the new fiscal year with; The new ePort Generation Eight (G-8) that accepts all forms of cashless payment, magnetic swipe and contactless; the ePort Edge, the first cashless payment technology priced under $200 for vending and point-of-sale terminals; the ePort SDK, the first software version of the ePort that includes enhanced security features; and eSuds Credit, the first credit card online laundry system for residential high-rise buildings. USA Technologies launched the new fiscal quarter with a Master Purchase Agreement with Foodbuy, the procurement company for Compass. Under the agreement Foodbuy, on behalf of Compass, will utilize USA Technologies as the sole credit or debit card vending system hardware and related software and connect services provider for three years for not less than 75 percent of Compass` cashless vending machines. USA Technologies will also be a preferred supplier and provider to Foodbuy and its customers, including Compass, of USAT`s products and services over the same three years.
