USA Technologies makes cashless connections to 250K self-service machines
USA Technologies announced that connections to its ePort Connect platform for cashless self-service transactions passed the 250,000 mark in its fourth fiscal quarter which ends June 30.
The company's ePort Connect is a suite of cashless payment and telemetry services tailored to the needs of self-serve retail industries. It includes wireless and merchant account set-up, simplified processing rates, settlement and reconciliation, 24/7 customer service and value-added services such as mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.
"Achieving 250,000 connections is a meaningful milestone for USAT, as these connections support an approximate $50 million annualized run rate when fully realized in our revenues during the first half of fiscal year 2015,” Stephen P. Herbert, USAT’s chairman and chief executive officer, said in a statement.
Over the last three years, USAT has doubled the number of connection to ePort Connect, which is now used by 6,600 customers, Herbert said. "Together with our customers we are creating new ways of doing business in self-serve retail and creating what we believe to be a powerful, connected platform for future services,” he said.