USA Technologies (NASDAQ:USAT) announced today the launch of the ePort Generation Eight (G8) and ePort Edge.
Both new ePort devices were developed based on customer and industry requests and firmly cement USAT as the industry leader in transaction processing in the unattended point of sale industry
The Generation Eight (G8) is the third G series ePort device to offer a cashless transaction solution for unattended point of sale appliances that integrates a new quad-band radio, contactless card reader (RFID), with the traditional swipe card process. The ePort G8 provides the same benefits of the ePort G7 plus important new features to their customers at a new lower price of $329.
The ePort Edge has completely re-engineered the G Series of ePort devices into a one piece design, which is substantially smaller than any existing device on the market. The ePort Edge was developed specifically for those in the vending industry who want to bring their customer a magnetic swipe only cashless system at the extremely low cost of $199.
"Customers who are using our earlier G series, G6 and G7, are experiencing impressive results, including 20%, 30% and in some cases 50% increases in year-over-year sales revenue growth," said George R. Jensen, Jr., Chairman and CEO, USA Technologies.
"We've invested heavily in market research, listening to and researching the needs of our current customers, potential customers and unattended point of sale industries beyond vending. We took this feedback and used the information to help develop both the G8 and Edge devices," said Mr. Jensen. "We intent to stay focused on our customer's needs in order to bring them the best products and services to help them grow their businesses."
USA Technologies' new ePort G8 accepts both traditional magnetic stripe credit cards and credit cards with tap-and-go technology, including MasterCard's PayPass, American Express' ExpressPay, Visa's Contactless, Chase Bank's Blink and Discover Network's Contactless technology. Some of the G8's new features include:
- A newly designed control unit that is 65% smaller than the previous ePort G7. This makes the G8 easier to install and compatible with a wider variety of unattended point of sale devices.
- Improved design features, including universal mounting, preassembled cables and plug in antenna, which facilitate even faster installation and activation.
- Over the air (OTA) Update capability.
USA Technologies' ePort Edge marks the company's most significant redesign of the ePort device in nearly a decade. This "slimmed down" design is built on an entirely new hardware and software platform enabling some of the ePort Edge's new features that include:
- One piece design (card reader and processor combined) that enable magnetic swipe card transactions.
- Faster transaction processing due to a more powerful processor.
- Over the air (OTA) Update capability
"The G8 ePort and ePort Edge, with their new enhancements, build upon the market-leading ePort series of products, which are installed in roughly 30,000 locations across the U.S., and are handling millions of credit card transactions," said Mr. Jensen. "The enhancements for these products were built upon different sets of needs of our current market space and now in to others that are further reaching. The G8 fits well in locations where consumers are more adept at using contactless payment devices such as universities, entertainment venues and corporate facilities, and it also opens doors to other cash-only industries that are even larger than the $46 Billion vending market. The ePort Edge device was developed focusing squarely on accelerating adoption. With a $199 price point we have made it easy for vending operators to add credit card acceptance to the greater majority of their machines."