USA Technologies, Inc. (OTC:USAT) (“USAT” or the “Company”), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today announced the launch of Remote Price Change (RPC), a new feature for its Seed Software Suite. The product will debut free for the month of July.
“The time and money spent sending technicians to each machine in order to update the pricing can sometimes take months to complete across our entire business,” said Lance Whorton, CEO and President, Imperial Co. “USA Technologies’ new Remote Pricing feature will most certainly aid in that endeavor and accelerate our ability to ensure accurate prices are updated within hours, rather than days/months. This comes at a critical time for all of us in the business, and now we can leverage that time and effort into things like re-merchandising, to ensure we are selling the right product at the right time, and at the right price to our consumers.”
USAT has developed a new feature for its Seed Software Suite that enables customers to make pricing updates, on compatible machines, remotely – anytime, anywhere. Currently, operators can spend up to $100 per trip sending a service technician to manually update prices at a machine between getting to the machine, time spent on location, as well as fuel costs. In addition, some operators’ machines charge product prices that are different than what is being recorded in the operator’s VMS (vending management system). This tends to cause discrepancies between actual collections and expected collections in the operators’ accounting system, an error that can cause lost revenue, by charging a lower product price than intended. Finding the incongruities has to be done manually, and once again expend staff time that can be spent doing something more productive.
“Remote Price Change has been one of our most widely requested and eagerly awaited features,” said Anant Agrawal, chief revenue officer, USA Technologies. “Now customers can ensure their products are priced appropriately. They can make needed pricing changes conveniently, from any location, via their Seed software, thereby reducing the time and manual effort previously spent doing these tasks in person.”
This new USAT feature enables customers with RPC permissions to update mismatched prices on their compatible DEX-only vending machines. If the desired price is different from displayed DEX, or actual price, the Seed software will display an alert. This is the Price Exception Alert, which tells operators of all the product coils where the price in Seed is different than the price sent from the last DEX report, thereby preventing lost revenue from sales, due to price discrepancies.
USAT is offering RPC for free during the month of July. To learn more about RPC or to contact a sales representative, visit here.
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About USA Technologies, Inc.
USA Technologies, Inc. is a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market. USAT is transforming the unattended retail community by offering one integrated solution for payments processing, logistics, and back-office management. The company’s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.
All statements other than statements of historical fact included in this release, including without limitation the business strategy and the plans and objectives of USAT’s management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, as they relate to USAT or its management, may identify forward-looking statements. Such forward-looking statements are based on the reasonable beliefs of USAT’s management, as well as assumptions made by and information currently available to USAT’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the incurrence by USAT of any unanticipated or unusual non-operational expenses which would require us to divert our cash resources from achieving our business plan; the uncertainties associated with COVID-19, including its possible effects on USAT’s operations and the demand for USAT’s products and services; whether USAT would realize all or a substantial portion of the anticipated financial benefits resulting from the new RPC technology due to unusual or unanticipated causes or events or otherwise; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; the ability of USAT to compete with its competitors to obtain market share; whether USAT’s existing or anticipated customers purchase, rent or utilize ePort or Seed devices or our other products or services in the future at levels currently anticipated by USAT; or other risks discussed in USAT’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, USAT does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. If USAT updates one or more forward-looking statements, no inference should be drawn that USAT will make additional updates with respect to those or other forward-looking statements.