Smith Joins USA Technologies As CFO DeMedio Advances To CSO

MALVERN, PA -- USA Technologies Inc. has named J. Duncan Smith chief financial officer. The appointment becomes effective Aug. 31, 2015. Smith, a CPA, succeeds David M. DeMedio, 44, who transitions to the newly created position of chief services officer after having made substantial contributions to the company as its chief financial officer since 2005.

Smith joins USAT from Bryn Mawr (PA) Bank Corp., where he was chief financial officer and treasurer since 2005. Previously, he spent 12 years in a similar role with First Chester County Corp. (West Chester, PA), and five years with a de novo (start up) banking operation. Smith also has some seven years' of experience with several public accounting firms, including Grant Thornton and Ernst & Young.

"To support continued growth, we are expanding our management team with the creation of a services role, CSO," said USAT chairman and chief executive Stephen P. Herbert. Advancing the company's incumbent CFO to the new post dedicates a c-level executive to the task of overseeing USAT's ePort Connect service, which generates a substantial percentage of total revenue and represents one of the company's highest-potential growth opportunities.

DeMedio joined USAT in 1999, serving as controller and director of network and financial services. He was promoted to chief financial officer in 2005. In the newly created post, he will be responsible for USAT's clients and their customers, and for delivering new services. He also will oversee network and payment security on behalf of the company's ePort Connect customers and consumers, including being responsible for compliance with standards such as those administered by the Payment Card Industry (PCI) Security Standards Council.

USA Technologies is a leader in wireless, cashless payment and M2M/IoT telemetry solutions for small-ticket, self-serve retailing industries. Its flagship service is ePort Connect, a PCI-compliant, end-to-end suite of cashless payment and telemetry services.