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USA Technologies (NASDAQ: USAT) has released the latest episode of its podcast, “UR Tech Insiders,” featuring Visa's Bill Dobbins discussing payment trends accelerated by the COVID-19 pandemic. The conversation emphasizes the growing shift towards cashless and contactless payments, with small businesses reporting a 35% reduction in cash usage. Dobbins notes that businesses adopting contactless payment technologies are better positioned for the future. The podcast also covers the evolving landscape of unattended retail and the rise of ecommerce.
USA Technologies (NASDAQ: USAT) announced the appointment of Ravi Venkatesan as Chief Technology Officer. Venkatesan, previously with Bakkt, will lead USAT’s architecture and development teams, focusing on enhancing their platform as a service (PaaS) offerings. With over 20 years of experience, he has held roles in product development and IT strategy, aiming to innovate USAT's technology solutions. CEO Sean Feeney emphasized Venkatesan's customer-centric approach, aligning with the company’s vision to improve consumer engagement in the self-service retail market.
USA Technologies, Inc. (NASDAQ: USAT) announced its participation in the madconNYC Digital Marketing Summit. Elyssa Steiner, VP of Marketing, will speak on the panel “What’s Working in Content Now” on December 1, 2020, at 12 PM ET. The panel will cover effective marketing strategies, including virtual leadership, social media, and customer engagement throughout the sales funnel. The event aims to equip marketers with the latest tools and trends in brand marketing. For more information, visit madconNYC.
USA Technologies, Inc. (NASDAQ: USAT) announced its management team will participate in the Wells Fargo TMT Summit on December 1, 2020. The company specializes in cashless payment solutions for the self-service retail sector, enhancing operations for various businesses, including vending and parking services. Presentation materials will be available on their Investor Relations website. Interested parties can arrange virtual meetings with the management team through Wells Fargo representatives.
USA Technologies, Inc. (USAT) announced a significant rebranding, transitioning to operate solely under the name Cantaloupe, Inc. This change reflects its evolution into a software and Platform as a Service (PaaS) provider. The new brand aims to enhance competitive positioning in the self-service retail market, aligning with strategic growth initiatives. The upcoming launch will introduce a new logo and updated website, emphasizing innovation and customer service. CEO Sean Feeney highlighted the brand's strong industry equity and customer loyalty, marking this as a crucial step toward a contactless economy.
USA Technologies (OTC: USAT) has received Nasdaq's approval for relisting its common stock on the Nasdaq Global Select Market, expected to commence trading on November 19, 2020. This milestone marks a significant operational and financial achievement, reflecting the company's progress over the past six months. CEO Sean Feeney emphasized that this relisting underscores the company's core strengths and its commitment to enhancing value for customers and stakeholders. USA Technologies specializes in cashless payments and software services for the self-service retail market.
USA Technologies (OTC: USAT) has announced that Empire Vending, LLC has successfully utilized USAT's Platform as a Service (PaaS) to optimize operations. Key achievements include a 22% increase in top-line sales due to cashless transactions, which now constitute 66.2% of overall sales. Other improvements include doubling the number of machines serviced per route and a 107% rise in average weekly sales. The implementation of USAT's technology has allowed Empire to adapt effectively during the COVID-19 pandemic, enhancing operational efficiency and customer engagement.
USA Technologies, Inc. (OTC: USAT) is preparing for the transition from legacy 2G and 3G networks to 4G LTE, as mobile operators phase out older networks. USAT has migrated most customers to 3G and is facilitating remaining upgrades for legacy devices, emphasizing a seamless transition before 2022 deadlines. Their upgrade program aims to maximize capital investment by upgrading with minimal costs and disruption. Additionally, USAT has completed a free over-the-air EMV contactless upgrade for numerous devices, aligning with consumer trends towards frictionless payments.
USA Technologies (OTC: USAT) has enhanced its ePort product family with the introduction of the ePort G10-Chip reader, which is EMV certified, accepting both contact EMV and contactless EMV payments. In addition, existing ePort G10-S devices have received a free over-the-air upgrade to enable these payment methods. These updates aim to improve security against fraud and meet the growing demand for cashless transactions, particularly in the wake of COVID-19, which has accelerated the shift away from cash. The enhancements are set to provide operators with better consumer engagement and increased payment flexibility.
