USA TECHNOLOGIES FURTHER EXPANDS DISTRIBUTION OF E-PORT™
NEWS RELEASE
For Immediate Release
Investor Relations Contacts:
Dian Griesel, Ph.D.
Juan Dominguez
The Investor Relations Group
Phone: 212-825-3210
USA Technologies Contacts:
George R. Jensen, Jr., Chairman & CEO
Stephen P. Herbert, President & COO
Phone: 800-633-0340
e-mail: sherbert@usatech.com
Initial e-Port production quantities sold – Production schedule accelerated
WAYNE, Pa., June 14, 2001 -- USA Technologies, Inc. (OTC Bulletin Board: USTT), announced today that through its expanded distribution of e-Port to vending operators, the Company has sold its initial production quantities of e-Port terminals and has accelerated production of product to meet industry demand for the upcoming third and fourth quarters.
This news comes on the heels of several key announcements that have quickly followed USA Technologies` successful introduction of e-Port to the vending industry. These include multi-year supply agreements, major strategic distribution partnerships, OEM agreements and an order from a single partner for 10,000 e-Ports.
"This is tremendous news for USA Technologies," said Michael Lawlor, Sr. VP of Sales and Marketing for USA Technologies. "The enhanced distribution system that we are building, coupled with the intense efforts of our sales force and partners, form the foundation for the Company attaining its goal of selling 200,000 e-Ports and associated network services over the next three years."
New distribution of e-Port includes premier vending operators such as Sanese Vending, who is utilizing e-Port technology to vend Michelina`s branded prepared foods, and ASI vending, with beverage and snack locations in the Jacob Javitz Convention Center in New York. Examples of other e-Port installations with vending operators include select locations of Six Flags and Wal-Mart.
“The response to our e-Port technology in the vending industry has been excellent. We have our e-Port technology being used in various beverage, snack, prepared food and merchandise vending machines across the country,” said Mr. Lawlor. “Our e-Port technology meets the consumers’ growing demand to vend products with credit cards and other cashless payment means, while meeting the business needs of our customers. We continue to receive daily inquiries domestically and internationally for our e-Port technology,” added Mr. Lawlor.
This new distribution of e-Port into the vending industry fits into the USA Technologies distribution strategy of marketing the e-Port technology to vending operators and soft drink bottlers, while working in partnership with vending distributors, OEM’s and strategic business partners to distribute product into the marketplace.
With its ever-expanding family of e-Port products and services, USA Technologies is rapidly emerging as the leader in cashless microtransaction products and services for the vending industry. The Company is in negotiations with numerous potential customers, partners and distributors in the Vending, Information Technology and Communications Industries, and expects to announce major new developments in the coming months.
Earlier this year USA Technologies formed a strategic alliance with Marconi Online Systems, a division of Marconi PLC, to bring together Marconi Online`s Intelligent Vending service with USA Technologies` cashless payment and interactive multimedia capabilities delivered through e-Port. Last year, Marconi Online became the exclusive provider of intelligent vending technology to the Coca-Cola Company.
The e-Port product line can be embedded into vending machines, gas pumps, office equipment and almost any kind of point-of-sale terminal. This scaleable technology and associated network and financial services enables the conversion of unattended points of sale into intelligent, networked “store fronts,” which could be connected via the Internet or other means. It is capable of communicating operational data to operators, conducting cashless microtransactions and could deliver advertising and information such as news, sports and weather to consumers while making routine purchases everywhere.
About USA Technologies:
USA Technologies is recognized as a leader in cashless microtransactions and interactive media technology and associated financial services. USA Technologies provides credit card activated and other cashless systems, allowing end users, ranging from consumers to business professionals, to communicate, conduct business or make ordinary commerce transactions, outside of the home or workplace. USA Technologies is an IBM (NYSE: IBM) Business Partner and an inaugural member of the Sprint (NYSE: FON) Enabling Application Service Provider Program for e-commerce. It has also established relationships with a number of global IT, multimedia, and telecommunications companies including Marconi Online Systems, RadiSys Corporation, DoubleClick Inc., and Xerox Corporation. Visit the USA Technologies home page at 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 product acceptance, economic, competitive, governmental, results of litigation, validity of intellectual property and patents of USA, the ability of USA to commercialize its developmental products, technological and/or other factors, which are outside the control of the Company.
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