MasterCard and USA Technologies to Expand MasterCard® PayPass™ Rollout to Another 7,500 Locations Nationwide
Record Deployment Gives Consumers More Options at Vending Machines Nationwide;
Continues Vending Industry’s Transition to Cashless
PURCHASE, NY, August 7, 2007–MasterCard Worldwide and USA Technologies Inc (NASDAQ: USAT) today announced the installation of a record number of cashless payment terminals into Coca-Cola Enterprises vending machines in several markets nationwide. With this innovative move, consumers in several U.S. markets will no longer have to dig for coins or have exact change to purchase their favorite Coca-Cola products from a vending machine.
Coca-Cola Enterprises Inc., the world’s largest non-alcoholic beverage bottler, will install the new terminals in selected vending machines in the Atlanta, Boston, Chicago, Denver, Las Vegas, Miami, New York and Seattle markets. The deployment of up to 7,500 G-6 e-Port terminals represents the broadest single deployment of the cashless vending terminals to date, and more than doubles the number of e-Port terminals installed in Coca-Cola system vending machines in the United States.
“Consumers are always seeking new and innovative ways to enjoy Coca-Cola products,” said Tom Barlow, Vice President, North American On-Premise Sales and Service, Coca-Cola Enterprises Inc. “By equipping our vending machines with cashless vending technology, we’re allowing consumers to enjoy the convenience and speed of paying with their credit or debit card while we improve our company’s efficiency and effectiveness.”
In addition to providing greater speed and convenience for consumers, e-Port and PayPass help vending machine operators improve efficiency by allowing companies to monitor and manage their vending machines online.
“This project is also aligned with our increased focus on corporate responsibility and sustainability,” added Barlow. “The information that these devices provide will enable us to decrease our out of stocks, improve our service and help reduce our fuel consumption.”
To make a cashless transaction at MasterCard PayPass e-Port activated vending machines, consumers tap their PayPass-enabled payment card or device on the e-Port terminal. The terminal flashes a light, displays a message and produces a tone to signal the completion of the transaction in seconds. No signature is required. Traditional magnetic stripe cards are also accepted.
“Consumers continue to demonstrate that they want the speed and convenience of using a payment card when making purchases from vending machines, and MasterCard PayPass and e-Port deliver,” said T.J. Sharkey, Senior Vice President, U.S. Merchant Sales, MasterCard Worldwide. “MasterCard PayPass contactless payments are ideal for traditionally cash-dominant environments like the vending market, where a quick and simple payment process drives a positive customer experience.”
“We are excited to again be working with MasterCard and with yet another significant company in the $46 billion beverage and bottling industry in deploying wireless activated cashless technology in vending machines,” said George R. Jensen, Chairman and CEO, USA Technologies Inc.
The United States is rapidly becoming a cashless market, with most quick service restaurants and convenience stores now accepting payment cards. The latest deployment confirms an accelerating trend in the vending industry to convert to cashless transactions.
“We are beginning to see a steady increase in average purchases across the board in the 6,000 e-Port MasterCard PayPass accepting machines that we deployed over the past nine months,” added Sharkey. “When consumers are not limited to the coins and small bills they have on hand, they are able to purchase what they want, and as a result we are seeing higher purchase volumes.”
About MasterCard PayPass
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. As of 2Q 2007, there are more than 16 million PayPass cards and devices in the market, and PayPass is currently accepted globally at 55,000 merchant locations, including participating 7-Eleven, CVS, McDonald’s, Regal Entertainment Group theaters and many others. PayPass is also accepted at numerous football and baseball stadiums. For more information about MasterCard PayPass and a full list of participating merchants, visit http://www.mastercard.com/paypass.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes close to 16 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercardworldwide.com.
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 marketing agreements with Cingular Wireless, Honeywell, Blackboard, MasterCard and others. For further information on USA Technologies, please visit http://www.usatech.com.
Statement under the Private Securities 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, the ability of the Companies to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow from operations, the ability to obtain operating profit, the ability to obtain orders for its energy management products, the ability to obtain new customers and the ability to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.