Vending Industry Leader Adds e-Port(R) Cashless Solution to Portfolio of Offerings
MALVERN, Pa., Aug. 12 -- Crane Merchandising Systems, a wholly-owned subsidiary Crane Co. (NYSE:CR) , the vending industry`s leading manufacturer of automatic merchandising equipment, has added the e-Port(R) made by USA Technologies (BULLETIN BOARD: USTT) to its portfolio of offerings, as Crane has become an Original Equipment Manufacturer (OEM) reseller of its e-Port cashless transaction solution for vending machines.
"We are excited by the OEM partnership because we can now equip vending operators with the ability to accept three different methods of payment -- coins, bills and now credit," said Tom Edwards, Vice President and General Manager, Crane Merchandising Systems. "Adding cashless capability to our vending machines strengthens our competitiveness, provides operators with more options and business opportunities, and offers consumers greater ease of use and convenience."
The e-Port allows end users to purchase items from vending machines using a credit or debit card, whether the machines are connected to the Internet by land line or wireless. The cost is automatically charged to the consumer`s credit card or bank account.
Crane is adding the e-Port to its portfolio of standard offerings, and will pre-install e-Port devices in its vending machines. The company, based in Bridgeton, Missouri, is also the only vending machine manufacturer in the industry that supports its product and services nationwide with a direct sales team.
"We`re delighted that the vending industry`s leader in automatic merchandising equipment recognizes the value of our e-Port and will be selling it directly to the public through its extensive sales network," said Stephen Herbert, President and COO, USA Technologies. "Crane is an industry leader, and its adoption of the e-Port will send a powerful message to owners and operators to join the cashless revolution spreading throughout the global marketplace, or be left behind," he said.
Crane plans to target vending machine owners and operators who sell their products for $1.00 or more, and to customers vending higher priced non-traditional items.
About USA Technologies:
USA Technologies is a leader in the networking of distributed assets, 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. USA Technologies is an IBM Business Partner and an inaugural member of the Sprint Enabling Application Service Provider Program for e-commerce. The Company has marketing agreements with the Sprint, Motient, MEI, Unilever and the ZiLOG Corporation. http://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 the ability of the Company to increase revenues in the future, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to commercialize its products (including the e-Port on a chip), which could cause actual results or revenues to differ materially from those contemplated by these statements.
USA Technologies Contact:
George R. Jensen, Jr., Chairman & CEO
Stephen P. Herbert, President & COO
Phone: (800) 633-0340
e-mail: sherbert@usatech.com
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