USA Technologies and Gimme Vending Announce Strategic Technology Partnership
Updated: Nov 27, 2019
LAS VEGAS--(BUSINESS WIRE)--NAMA OneShow 2017 – USA Technologies, Inc. (NASDAQ:USAT) ("USAT"), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced an alliance agreement with Gimme Vending, the creator of an innovative vending technology solution that gives vending executives better sales, inventory and service data.
The combination of USAT’s ePort® cashless acceptance technology with Gimme Vending’s software can equip self-serve machines with cashless and online services capabilities that are integrated with wireless, plug-and-play technology that helps download DEX from the machines. The app then syncs vend visits in real-time with the operator’s existing vending management system to populate large picture displays through a user-friendly interface. Gimme’s wireless DEXing solution eliminates additional expenses and investment in expensive handheld DEXing devices for our customers.
“By working with an industry leader in cashless payment technology, we are delivering efficiency and accuracy in a way that helps vending companies save time and money while creating a better experience for drivers,” said Evan Jarecki, Co-founder and vice president of Sales, Gimme Vending. “We value our partnership with USA Technologies, and believe that the combination of our technologies is an important move in the vending industry.”
For operators who have machines already equipped with USAT’s cashless payment system, the joint solution would make it possible to wirelessly pull DEX directly to Gimme’s app, without the need for or expense of any additional hardware, like the Gimme Key. These operators could enjoy the benefits of wireless DEX, real-time access to information on vend visits and more accurate planogram information.
“USAT has built its reputation on bringing best-in-class tools and solutions that continue to drive innovation. Our alliance with Gimme enhances vendor management technology in the unattended space with an elegant and user-friendly app and interface,” said Maeve McKenna Duska, senior vice president of sales and marketing, USA Technologies. “We are thrilled to work with Gimme Vending to bring an innovative tool to the vending industry.”
Gimme has agreed to market to its customers USAT’s seamless, turnkey cashless payments platform and industry-leading PCI Level 1 secure service. Those customers will have the opportunity to benefit from the USAT devices, which can accept automatic updates to software, settings and security protocol from USAT’s network to keep hardware up-to-date, and the ability to layer on valuable services like advertising, consumer engagement, including loyalty programs, and payroll deduct services.
For operators with machines in remote locations where it is impossible or impractical to connect to cellular-based payment systems, Gimme can provide wireless connectivity to these machines through a key that fits into the existing DEX system.
M&M Sales Company, a Canteen franchise with locations in Lafayette, Houma and the Lake Charles areas of Louisiana was the first to test and implement the technology at 1,775 of its locations. “This is an efficient, cost effective and productive collaborative product on the market,” said Mickal McMath, New Business Development Director at M&M Sales, who recently implemented the joint technology solution at the 1,775 locations. “The inherent benefit that the USAT and Gimme solution brings to our business is the accuracy that reduces sell outs, spoils and bring backs, along with a cashless payment system that has consistently increased sales for us.”
The combined solution also addresses the needs of USAT customers that are looking to replace legacy handhelds that are expensive and have limited visual display.
“During a recent live test with a customer, the process took roughly 13 seconds from the time we pressed the DEX/Fill button on a USAT G9 telemeter to the point of capture on an iPad displaying the Gimme app,” added McMath. “It’s fast, easy and has also completely eliminated the issues we experienced with handheld devices.”
About Gimme Vending
Gimme makes unattended retail a reality. The company builds award-winning mobility and tracking tools to manage unmanned retail locations, like vending machines and micro-markets, helping their customers increase productivity and profitability. Currently, Gimme builds hardware and software for vending companies. Gimme’s award-winning and patented plug-and-play solution replaces legacy handhelds to deliver valuable data, like purchasing patterns, and provide operators with better cash accountability, inventory tracking, and machine status data. This translates into fewer stock-outs, faster warehousing and restocking, and streamlined product planning. Gimme’s technology scores each point-of-sale in the network based on the suitability of inventory to consumers on location and helps track what’s happening in the field, where the cash and inventory are, all in real time, without end-of-day downloading, synchronizing, or hand-keying. For more information, visit www.vending.ai or connect with Gimme on Twitter.
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® Connect, ePort® Interactive, QuickConnect, an API Web service for developers, and MORE., a customizable loyalty program. 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.
"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 combined solution offered by USAT and Gimme will not be realized by all vending operators and on all vending machines or within the expected time period; whether, and the extent to which, USAT’s cashless services would increase sales for its customers; the extent of accuracy of Gimme’s wireless DEX solution; and whether USAT will gain additional customers as a result of the alliance agreement or Gimme’s marketing efforts. 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.