Source: USA Technologies
USA Technologies (OTC Bulletin Board: USTT) and MasterCard International today announced they are working together to provide a faster and more convenient payment option for use at vending machines.
USA Technologies believes that its e-Port cashless payment and networking services, combined with the MasterCard PayPass contactless payment solution, could revolutionize the $40 billion global vending industry by providing consumers with a welcome payment alternative to cash and coins.
Following successful trials conducted at MasterCard's corporate facilities, more than 500 vending machines throughout New York City and Atlanta, Georgia will now be specially equipped to accept MasterCard PayPass.
"PayPass is ideal for quick payment environments where speed is essential, such as vending machines," said Cathleen Conforti, Global PayPass Product Manager, MasterCard International. "PayPass is fast, convenient and eliminates the hassle of fumbling with cash and coins or looking for exact change. Consumers simply tap their PayPass-enabled card or fob on the vending machine's payment terminal and they are on their way."
The e-Port payment terminal from USA Technologies installs easily into existing cash-only vending machines, enabling them to accept traditional credit and debit cards as well as contactless cards and fobs. The solution provides consumers with multiple payment options, while increasing sales opportunities for merchants.
"Together, PayPass and e-Port combine to create a unique payment solution that could quickly change the global vending marketplace as we know it," said George R. Jensen, chairman and CEO, USA Technologies. "Vending is one of the fastest emerging cashless opportunities, and we are taking the lead in jump starting payment card use in vending."