QUICK LINKS: Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:  Follow VendingTimes on Twitter 

Bookmark this site



 
Issue Date: Vol. 50, No. 7, July 2010, Posted On: 7/9/2010


USAT Cites Cashless Vending Q4 Progress, Concludes Rights Offering


Emily Jed
Emily@vendingtimes.net
USA Technologies, USA Technologies fourth quarter, USAT earnings, George Jensen, USAT, JumpStart, cashless vending, Stephen P. Herbert, ePort, ePort cashless payment terminal, ePort, Energy Miser, cashless vending, vending, vending machine, vending machine business

MALVERN, PA -- USA Technologies Inc. said demand for its cashless technology continued to climb in the fourth quarter. The number of cashless devices connected to its network increased by approximately 9,000 during the quarter ended June 30, bringing the total to over 82,000, compared with 52,000 a year ago.

The number of cashless transactions processed by USAT during the quarter reportedly increased by 73% to 11.7 million, up from 6.7 million transactions during the prior year's fourth quarter.

The dollar value of transactions processed during the quarter increased by 54% to $20.8 million, compared with $13.5 million during the comparable period last year.

During the quarter, approximately 150 new customers joined the USALive Network, bringing the total number of customers to 1,050 as of June 30. By comparison, the company had 525 customers as of June 30, 2009, representing a 100% increase during fiscal 2010.

Separately, USAT concluded its pending subscription rights offering on July 6. Chief executive George Jenson said ongoing improvements in operating efficiencies, funds available to the company from working capital and $2.7 million from its recently completed public offerings provide ample resources for it to deliver ePort cashless payment products for its recently expanded JumpStart program.


Topic: Vending Features

Articles:
  • Coca-Cola Plans To Operate 100% Solar-Powered Vendng Machine
  • Crane Introduces Enhanced Merchant Media Touch Vending Machines
  • Crane And USConnect Team Up To Benefit From Integrated Vending Technology
  • Dedicated Nationwide Machine-To-Machine Network Has Vending Application
  • Avanti Markets Readies Micromarket Theft-Control Device

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570