USA Technologies, Inc. of Malvern, a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, announced the firm just hit a very meaningful milestone.

The company said connections to its end-to-end ePort Connect® service crossed 250,000 during its fourth fiscal quarter ended June 30, 2014. This puts the company half way toward its goal of 500,000 in connections and $100 million in total revenue.

“Achieving 250,000 connections is a meaningful milestone for USAT, as these connections support an approximate $50 million annualized run rate as they are fully realized in our revenues during the first half of fiscal year 2015,” said Stephen P. Herbert, chairman and chief executive officer.

“We are very grateful to our 6,600 plus customers whose loyalty and support have helped shape the turnkey, comprehensive and flexible nature of ePort Connect,” said Herbert. “Together, we are creating new ways of doing business in self-serve retail and creating what we believe to be a powerful, connected platform for future services.

Herbert said USAT is minimizing the cost of technology for its customers while preparing them for emerging trends in loyalty, mobile payment and integrated payment services. USAT is also making its services more accessible to adjacent markets beyond vending, such as laundry, kiosk, taxi and arcade.

ePort Connect® is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries. USAT provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile™ for customers on the go, and QuickConnect, an API Web service for developers. USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, Elavon, Compass, Crane, AMI Entertainment and others.

Links: www.usatech.com