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ATLANTA -- On Oct. 1, 2008, USA Technologies Inc. and First Data Merchant Services Corp., based here, entered into a three-year joint marketing agreement under which USAT and First Data agreed to jointly market and sell to U.S. vending operators and soft drink bottlers a prepaid vending solution which uses the USAT e-Port and First Data’s GO-Tag contactless payment device. First Data Merchant Services is a wholly owned subsidiary of First Data Corp.
The joint marketing agreement contemplates the sale to customers of up to 100,000 e-Ports and up to 25 million GO-Tag devices over the three-year term of the agreement. USAT would sell the e-Ports to customers at retail prices. The e-Ports would accept credit cards, debit cards and contactless cards as well as First Data’s GO-Tag contactless devices.
At the same time, USAT and First Data Prepaid Services, an affiliate of First Data Corp., entered into a three-year referral agreement pursuant to which First Data Prepaid Services would provide processing services for the GO-Tag devices sold to customers under the joint marketing agreement. USAT and the customer would enter into a separate processing agreement pursuant to which USAT would process all cashless transactions other than those related to the GO-Tag devices.
First Data endeavors to make it easy for people and businesses to buy goods and services quickly and securely, using any form of electronic payment. First Data securely processes the transactions and processes the data to deliver insight to millions of merchant locations and thousands of card issuers in 37 countries.