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USA Technologies reports 250,000 connections to cashless vending service

Andrew Hudson   ||   Jun 04, 2014  ||   ,

Students are using their campus IDs and mobile devices for a number of daily activities, and recent financial reports suggest that cashless vending may be ideally positioned for this trend.

USA Technologies, a cashless payment and M2M telemetry solutions provider, has revealed that connections to its end-to-end ePort Connect service has surpassed the 250,000 mark during the fourth fiscal quarter.

According to Vending Market Watch, reaching 250,000 connections is a significant milestone for USAT, because if the company continues at this rate it stands to earn as much as $50 million over the coming year.

This also marks the halfway point of USAT’s longer-term goals of reaching 500,000 connections and $100 million in total revenue over the next four years. Helping USAT to reach its goals are the company’s more than 6,600 ePort Connect customers.

USAT also plans to meet emerging trends in loyalty, mobile payment and integrated payment services. The company has also extended its cashless vending solution to include laundry, kiosk, taxi and arcade settings.

ePort Connect is a PCI-compliant suite of cashless payment and telemetry services that are tailored to fit the needs of self-serve retail industries. The solution’s services include wireless and merchant account setup, simplified processing rates, settlement and reconciliation, 24-hour customer service, mobile payment, loyalty programs and integrated payment services for micro-markets and other POS devices.

USA Technologies also provides a suite of cashless acceptance solutions including its NFC-ready ePort G-series, ePort Mobile and QuickConnect, an API Web service for developers.

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