USA Technologies (USAT) Gains After Announcing Deal w/Pepsi
- Wall St ends flat; Disney, retailers dip on sales worries
- Why Martin Shkreli ONLY Cares About KaloBios Pharma's (KBIO) Stock Price
- China stocks tumble most since summer slump as brokerage probe widens
- FBR Capital's Ives Sees Growing Apple Watch Interest (AAPL)
- Target (TGT) Notes Strong Black Friday Sales Start; Apple, Giant Stuffed Teddy Bear Lead Charge
USA Technologies, Inc.(NASDAQ: USAT) today announced a new, exclusive agreement with The Pepi Companies that USAT believes exemplifies the future of integrated cashless payment, telemetry and consumer engagement services. The agreement, designed to span all aspects of Pepi’s business—from vending to micro-market, from mobile payment to cafeteria/food service point of sale—leverages Pepi’s existing cashless-enabled vending network and USAT’s new Integrated Payment Services. Integrated Payment Services, an evolution of USAT’s market-leading ePort Connect® service, was introduced to the vending industry yesterday.
The Pepi Companies (“Pepi”), a leading food, coffee and vending service provider based out of Dothan, Alabama, was USAT’s first customer to initiate a complete conversion to cashless payment and telemetry on its vending machines, a project completed at the end of 2012. Under the new agreement, Pepi plans to substantially expand its relationship with USAT by leveraging USAT products, services and add-on integration capabilities across all of Pepi’s other business segments.
Vic Pemberton, chief executive officer and founder of The Pepi Companies, commented, “Implementing cashless on all our vending machines greatly enhanced our customer experience, but it was just the beginning for Pepi. The marketplace for a traditional vending operator is much more complex now than it was before. Many of us have micro-markets, more operators are getting into coffee services and other direct store deliveries, and others are expanding their portfolio of convenient and fresh food services. By putting this agreement together with USAT, our goal was to build an infrastructure to simplify cash flow and operations, save on rates and shrinkage and bring more value to our consumers.”
Pepi’s integrated service solution will include traditional vending, using USAT’s turnkey ePort® and ePort Connect cashless payment and telemetry products and services. Pepi will also have the ability to integrate other third-party devices certified on USAT’s ePort Connect network. For Pepi’s micro-markets as well as their dining service point of sale, Pepi’s technology partner used QuickConnect to integrate with USAT, for streamlined payment services. In addition, for Pepi’s office coffee services and direct store deliveries, Pepi will use USAT’s ePort Mobile™ solution to integrate payments with other business segments. Finally, USAT’s loyalty and prepaid program, MORE., will be accessible by participating consumers using any of these payment acceptance options for an enhanced consumer experience and loyalty factor—one program for all aspects.
“We had our own theme in mind when we developed this integrated services plan with USAT: ‘Simply More, Simply Better,’” said Pemberton. “’Simply Better’ is about creating a foundation that combines all of our credit and debit card processing. Everything coming down the same, integrated pipeline provides obvious efficiencies. We’ll be able to save not only in accountability, but in daily deposits and cash handling, as well as in processing rates.
“’Simply More’ is about enhancing the customer’s experience,” added Pemberton. “Using USAT’s MORE. program across our vending, kiosk and point of sale systems, Pepi customers will enjoy a common loyalty experience anywhere they go—whether it’s a card, fob or mobile-based consumer app. Behind the scenes, this structure will provide even better controls and information about consumers.
“In all, Pepi’s goal is to leverage our connected technology and the capabilities of USAT. We look forward to executing this new plan and the opportunities ahead to ensure that doing business with Pepi is ‘Simply More, Simply Better,’” concluded Pemberton.
“Pepi’s progressive use of connected technology embodies the spirit of USAT’s presence at this year’s NAMA OneShow where we plan to showcase the strength and versatility of our service capabilities in self-serve retail,” said Michael K. Lawlor, USAT’s senior vice president of sales and business development. “We are changing the conversation, signaling to our customers that there’s a whole new manner in which full-service food and beverage providers will be able to manage their businesses as they continue to transition to cashless with USAT.”
USAT will be exhibiting its one-stop, cashless payment, telemetry and consumer engagement services at the NAMA OneShow at the McCormick Place, LakeSide Center in Chicago from April 9-11. Visit USAT at Booth # 763.
In addition, The Pepi Companies will be presenting a workshop titled, “Not UR Daddy’s Vending: The Evolution of Today’s Convenient Refreshment Company” at the NAMA OneShow on Tuesday, April 8, 2014, at 1:45 p.m.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Abengoa (ABGB) Files Communication Under Article 5 Bis of Insolvency Law
- Exact Sciences (EXAS) Requests CMS Clarify 2016 Reimbursement Rate for Cologuard
- Yanzhou Coal Mining Co. (YZC) Holder Uses Shares for Ex-Im Loan
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!