USA Technologies And ViVOtech Expand Their Relationship To Meet Increasing Market Demand
Malvern, PA - USA Technologies and ViVOtech, a global leader in contactless payment reader and NFC (Near Field Communication) mobile phone payment infrastructure software, announced recently that in response to market demand, the Companies have entered into an agreement by which ViVOtech would provide 25,000 contactless/magstripe card readers for USAT's ePort technology.
The order follows USA Technologies making an initial purchase of 10,000 readers from ViVOtech in 2007 that were installed with the ePort in vending machines owned and operated by some of the biggest bottlers and vending companies in America.
It also comes after news that USA Technologies and MasterCard had equipped 17,500 vending machines nationwide with ePort cashless terminals to accept MasterCard's PayPass contactless payment system, and Discover Network had installed ePort in 1,000 vending machines to accept Discover Network Zip contactless payment technology.
"Our latest order of 25,000 wireless readers is in response to increasing demand from the vending industry for our contactless technology. Adoption of our ePort technology is increasing, as are sales," said George Jensen Chairman and CEO, USA Technologies Inc. "Bottlers and vending machine companies are delighted with the speed and efficiency of the ViVOtech readers and ePort terminals, and consumers find it convenient for making purchases with their credit and debit cards, contactless cards, and eventually their cellular phones," he said.
"The adoption of contactless payments is growing worldwide as customers find the new payment experience at traditional cash oriented retail locations more convenient and faster," said Mohammad Khan, President and Founder of ViVOtech. "USA Technologies is clearly leading the introduction of this technology into the $46B vending industry. We are delighted to partner with USA Technologies to enable consumers to pay using their contactless cards, and NFC mobile phones at any contactless enabled vending machine."
"ViVOtech has proven global industry knowledge to ensure that together we deliver to vending customers the most superior contactless payment technology available, whether traditional card or contactless NFC using a cellular phone," said Mr. Jensen. "ViVOtech knows and understands the traditional cashless market, as well as the emerging self-service markets we are targeting. By combining our technologies, along with our ePort Connect Services, we are able to offer an advantage unequalled in the vending and POS industries," he said.
"Our expanded partnership brings important new increased capabilities to ePort, making it more attractive to our customers, while giving USA Technologies the capability to deliver new services to our customers across the ePort Connect services network," said Mr. Jensen.
ePort Connect is the first complete portfolio of high-speed turnkey services for the multi-billion dollar unattended point-of-sale market. ePort Connect enables self-service terminals to accept all forms of cashless payments, handles all elements of the transaction processing, and allows customers to monitor and manage their terminals online.
In recent studies done by USA Technologies, their customer base is realizing an increase in net profits and finding that average credit card purchases are 30% greater than purchases made with cash. Additionally, the adoption of contactless payments is growing worldwide as more retail customers embrace new technologies that ensure a quick, easy and secure way to pay.
SOURCE: USA Technologies and ViVOtech