(Source: Business Wire)

USA Technologies (NASDAQ: USAT) announced today 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.
"This latest patent makes claims in connection with our technology that
allows communications between point-to-point wirelesses, and wired WAN
solutions, as well as wired solutions in vending machines nationwide,"
said George R. Jensen, Chairman and CEO, USA Technologies. "It grows the
number of our patents to 71, which adds confirmation to USA Technologies
leadership in developing cashless technology for vending, kiosk and
unattended point-of-sale terminals," he said.
The patent covers the technology in USAT's ePort cashless payment system
for accepting financial card identification data as payment for items
vended, and an interactive interface, protocol, and support for
interconnecting the system to a computing platform. It further covers
the ePort technology to accept card ID data, authorizes the validity of
the card, and executes and settles the transaction payment for the goods
and services that are vended.
The latest patent comes just a month after USAT was reissued a similar
patent for a system to provide remote audit, cashless payment and
interactive transaction capabilities in a vending machine.
USA Technologies has nearly 57,000 devices deployed on its network
nationwide and in Canada, with 600 customers, including many of the
world's largest vending operators and bottlers, as well as global
financial card companies. Last month, USAT recorded a milestone when it
topped a record $5 million in micro transactions processed through its
network for a month.
"Today's marketplace is growing increasingly competitive with the
introduction of new Internet technologies almost daily, and the most
successful businesses will be those who leverage their intellectual
property to give customers the assurances they are looking for when
buying technology based products and services," said Mr. Jensen. "USAT
has various patents covering our technology, and we are anticipating
increasing revenues as the vending, kiosk and unattended POS industries
convert to cashless and contactless payment systems," he said.
USA Technologies also owns a variety of patents that apply to radio
frequency swipe card and contactless card technology. The technology
allows consumers to make purchases from vending machines by swiping or
waving their credit cards in front of the e-Port radio frequency reader.
Demand for cashless payment technology and services is growing rapidly
as more consumers seek the ease and convenience of making cashless
payments at vending machines, and as vending machine operators pursue
innovative efficiencies and streamline operations to lower costs and
grow customer satisfaction.
About USA Technologies:
USA Technologies is a leader in the networking of 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. The Company has agreements with AT&T, Visa,
MasterCard, First Data, Compass and others. For further information on
USA Technologies, please visit www.usatech.com.
To view a Company overview presentation, visit http://www.usatech.com/company_info/dl/USAT_company_overview.pdf
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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, the ability to continually obtained increased orders
of its products, the ability to meet installation goals, economic,
competitive, governmental impacts, whether pending patents will be
granted or defendable, validity of intellectual property and patents,
the ability to license patents, the ability to commercialize
developmental products, as well as technological and/or other factors.
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