USA Technologies to Launch e-Port(TM) in Japan Product to Debut at VENDEX Japan 2002
16 December, 2002
category: Contactless, Financial
TOKYO, Nov. 14 /PRNewswire-FirstCall/ – USA Technologies (Nasdaq OTC Bulletin Board: USTT), makers of the revolutionary e-Port(TM) cashless payment transaction system that is already transforming the vending industry in the United States, is now targeting the huge Japanese vending machine marketplace.
The e-Port(TM), the first Internet connected cashless transaction solution developed for vending machines with the help of IBM, RadiSys (Nasdaq: RSYS) and others, will make its debut in Japan at VENDEX Japan 2002. At this major vending exposition in Tokyo beginning November 13, e-Port(TM) will be showcased in a display hosted by Altech Co. Ltd., a major distributor of information technology products, industrial equipment other products to the Japanese marketplace. USA Technologies and its partners will collaborate to support the implementation of the e-Port(TM) systems in Japan.
The e-Port(TM) solution can be activated by credit card, RFID, smart card, cellular phone, magnetic strip cards, or student IDs. This means an end user can purchase a soda or snack from a vending machine with the swipe of a credit card or click of a cellular phone button. The cost is automatically charged to a customer’s bank or telephone account. It overrides the need to insert cash. A recent USA Technologies survey in the United States provided ample proof that consumers appreciate the greater convenience and ease of use of cashless vending. The survey indicated a 20% increase in business of e- Port(TM) equipped vending machines over regular cash machines.
“This is an incredible opportunity to work with numerous world class partners to introduce our products and services to the most highly developed vending market in the world,” said Stephen P. Herbert, President and COO of USA Technologies. “Altech has a strong distribution infrastructure in the Japanese marketplace and distributes manufacturing equipment, vending machines and other products to the largest soft drink bottlers and vending operators in Japan.” He went on to say, “And IBM is an IT powerhouse all over the globe. Our Global Services Partnership with IBM is intended to enable us to implement our technology globally.”
The Company will also work closely with its long time partner, RadiSys Corporation to open up this important new market. “Working together with USA Technologies, RadiSys has prepared and certified the e-Port(TM) technology for global implementation. These international certifications are similar to UL and FCC requirements for the United States. USA Technologies customers will benefit from a single Intel(R) based platform that can be used globally,” said Fred Yentz, General Manager and Vice President, RadiSys Corporation.
Since the machines are connected to the Internet, vending machine operators will have the ability to monitor sales remotely. This remote audit capability will ensure the machines are always stocked and able to generate revenue. Additionally, the e-Port (TM) can be outfitted with a touch screen LCD display. This screen enables interactive advertising capabilities and provides a high-tech way for the vending operator to offer their customers more information about their purchase. Advertising can be drawn through the Internet or submitted directly to the machine.
“Vending is twice as prevalent in Japan as the US, with one vending machine per twenty-three people, versus one machine per forty people in the US,” explained Herbert. “This makes Japan a natural next step for USA Technologies and our e-Port services. And with the telecom carriers estimating over 67 million cell phone users in Japan, our vending customers may leverage the mobile commerce capability of our technology which enables consumers to purchase items from a vending machine using their cell phones.”
Mr. Herbert further commented, “Japanese vending consumers have already been introduced in trials to making purchases with mobile telephones and having access to interactive content at point of purchase – just a few of the services that are available via e-Port(TM). USA Technologies is uniquely positioned to add momentum to this exciting development in the Japanese marketplace with the commercial availability of e-Port(TM).”
USA Technologies has focused intensely on open platform technology and services to enable wireless, cashless transaction capability, as well as aligning with partners that possess international reach – all done in order to position itself to deliver products and services to global customers and markets. There are more than 5.7 million vending machines in Japan alone, and worldwide the vending industry is estimated at over 30 million locations. USA Technologies hopes to quickly establish itself in the Japanese marketplace through Altech, a major distributor of industrial, technology and equipment and vending equipment and their partners RadiSys and IBM.
About USA Technologies:
USA Technologies is a leader in wireless non-cash and m-commerce transactions, associated financial/network services and interactive media technology. USA Technologies provides networked credit card and other non- cash/mobile commerce systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner and an inaugural member of the Sprint Enabling Application Service Provider Program for e-commerce. The Company has marketing agreements with the IBM Corporation and Mars Electronics International and the ZiLOG Corporation. Maytag Corporation is an original equipment manufacturer (OEM) partner and minority investor in USA Technologies. http://www.usatech.com
About Altech Co. Ltd.:
Established in 1976, Altech is an alliance of several prominent Japan- based companies including ALT Group, with 2001 revenues of over $200 million. The Company specializes in systems, technology and equipment for large manufacturing companies, and boasts a customer base of internationally acclaimed corporations, including Sanyo, Panasonic, TDK, Nintendo, and Nikon. Altech provides these electronics giants, and others, with superior process solutions. http://www.altech.co.jp
About RadiSys:
RadiSys (Nasdaq: RSYS) is a leading global provider of embedded hardware and software building blocks and solutions to OEM companies in communications equipment, medical, industrial automation and transaction terminal markets. Using its extensive expertise in a wide variety of technologies, RadiSys focuses on industry-leading Intel architecture while working in a close “virtual division” relationship with its customers – significantly improving their time-to-market advantage and reducing cost. The broad range of RadiSys product offerings include board-level embedded computers; blade servers; motherboards; network interfaces and packet processing engines; communications middleware and software such as SS7/IP internetworking and protocol stacks; platforms based on PCI, CompactPCI, CompactPCI 2.16 and ATCA; turnkey gateway systems and professional services.
Statement under the Private Securities Litigation Reform Act:
Some statements contained in this press release that are not historical facts may be forward-looking statements subject to risks and uncertainties that could cause our actual results and financial position to differ materially from these statements. These forward looking statements are identified by terms and phrases such as “anticipates,” “believes,” “intends,” and “expects”. Our actual results could vary materially from the results projected by these forward-looking statements based on a variety of factors including the ability to continually obtain increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable, validity of intellectual property and patents of USA Technologies, the ability of USA Technologies to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements. These statements are based on current expectations but are also inherently subject to business uncertainties and contingencies beyond the control of the companies. Readers are cautioned not to place undue reliance on these forward -looking statements that speak only as of the date hereof. The companies expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any statements to reflect any change in the companies’ expectations or any change of events, conditions or circumstances on which any such statement is based.
USA Technologies Contact:
Media: Wendy Jenkins, VP of Marketing
e-mail: [email protected]
Phone: +1-610-989-0340
