Sneaker Syndicate Sees New Business Opportunities by Going Cashless with USA Technologies
High-end Athletic Shoe Boutique’s Amusement Kiosks See Initial
Revenue Nearly Double After One Month of Installing ePort® Technology
MALVERN, Pa.–(BUSINESS WIRE)–#AndroidPay—USA
Technologies, Inc. (NASDAQ:USAT) (“USAT”), a payment technology
provider of cashless and mobile transactions in self-serve retail, today
announced that Sneaker Syndicate, a high-end athletic shoe boutique in
Orlando, Florida, has launched a series of self-serve amusement kiosks
that allow consumers to win sneakers, which leverage USAT’s ePort
Connect® cashless payment systems.
According to AnythingResearch, the amusement arcades market is
approaching being a $2 billion industry, and cashless payments represent
a huge growth opportunity for the still largely cash-based market. With
what we believe to be a low barrier to entry, this is an industry ripe
with opportunity. Sneaker Syndicate has deployed USAT’s cashless payment
technology on an amusement “Crane Game” as part of a marketing strategy
for its retail location. For five dollars, shoppers could test their
luck at winning high-end footwear such as Adidas Yeezy Boosts or Nike
Air Jordans – sneakers that range in value between $300 and $2,000.
One month after installing USAT’s state-of-the-art ePort Connect
cashless payment systems onto a small number of the store’s amusement
machines, sales nearly doubled, with cashless transactions accounting
for about 45 percent of the machines’ intake. Given the positive
results, the company now plans to expand its business over the next two
years with additional machines at a variety of East Coast locations.
“Because of USA Technologies, we are developing franchise agreements
with companies across the East Coast for our popular high-end shoe
amusement machines,” said Stewart Bryant, owner, Sneaker Syndicate. “The
ability to easily accept payments using the ePort platform has made a
critical difference for us. This technology has opened the door to a new
world of amusement and vending games.”
Implementing ePort Connect on its kiosks has given Sneaker Syndicate the
ability to track the acceptance of cash, credit/debit cards, NFC and
mobile wallet payments such as Apple, Android and Samsung Pay. The
connected nature of the devices also gives the growing company critical
remote access to sales and payout data for all of its machine locations.
“The opportunity for the unattended retail market is greater than ever.
In the amusement and gaming industry, going cashless not only enables
more payment options, and increased revenue potential, but also allows
for the sale of game credits. Additionally, the MORE loyalty program
facilitates repeated sales of games,” says Maeve Duska, senior vice
president of Sales and Marketing, USA Technologies. “More and more
consumers are also going cashless simply recognizing that the
convenience of paying with their mobile wallet is as simple as tap and
go.”
Useful Links:
USA Technologies:
USA Technologies: https://usatech.com/
Twitter: https://twitter.com/usa_tech
YouTube: https://www.youtube.com/user/USATechnologies
Resource
Center: https://usatech.com/resource-center/the-benefits
Sneaker Syndicate:
Instagram: https://www.instagram.com/sneakersyndicate
Sales and Partnership Inquiries:
Please contact USA
Technologies, Inc. at +1 800.633.0340 or sales@usatech.com.
About ePort Connect®:
USAT’s ePort Connect service is a PCI-compliant suite of cashless
payment and telemetry services specially tailored to fit the needs of
self-serve retail industries. Designed to be a “one-stop shop,” services
offered through ePort Connect include wireless and merchant account
setup, simplified processing rates, settlement and reconciliation, 24 x
7 customer service and a host of value-added services, including mobile
payment, loyalty programs and integrated payment services for
micro-markets and other POS devices.
About Premium Support Services:
USAT’s Premium Support Service bundles USAT’s best-in-class services to
ensure the most effective deployments of USAT’s cashless technology
through cohesive planning that maximizes returns. Services include
USAT’s Model Market program for planning, project management,
installation support, and marketing support; integration of deployment
planning, installation and performance optimization; access to USAT’s
flagship Knowledge Base data; and customized reporting in support of
deployment, inventory and DEX project management. USAT’s Premium Support
Service is available to customers that have made a commitment to connect
a significant portion of their locations to USAT’s service.
About USA Technologies:
USA Technologies, Inc. is a premier payment technology service provider
of integrated cashless and mobile transactions in the self-service
retail market. The company also provides a broad line of cashless
acceptance technologies including its NFC-ready ePort® G-series, ePort
Mobile™ for customers on the go, ePort® Interactive, and QuickConnect,
an API Web service for developers. USA Technologies has 77 United States
and foreign patents in force; and has agreements with Verizon, Visa,
Chase Paymentech and customers such as Compass, AMI Entertainment and
others. For more information, please visit the website at www.usatech.com.
Forward-looking Statements:
“Safe Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: 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. When used in this release,
words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”,
and similar expressions, as they relate to USAT or its management,
identify forward looking statements. Such forward-looking statements are
based on the 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 ability of USAT to predict future market conditions
and consumer behavior; the possibility that all of the expected benefits
and efficiencies from the use of the ePort, including increased revenue
potential and marketing opportunities, will not be realized by all
amusement kiosk operators and on all amusement kiosks, or within the
expected time period; whether our customers’ business growth will match
their projections; the accuracy of third-party estimates of the size of
the amusement and arcades market; and the accuracy of our estimates
regarding the extent of the barriers to adoption of cashless payments
faced by the amusement kiosk industry. 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.
–G-USAT
Contacts
Media Contacts:
ANW Networks
Melissa Hourigan, +1
720-988-3856
melissa@anwnetworks.com
or
Investor
Contacts:
Blueshirt Group
Michael Bishop, +1 415-217-4968
mike@blueshirtgroup.com
