News

New vending patents a boost for USA Technologies, cashless transactions

February 4, 2003

WAYNE, Pa. -- USA Technologies Inc. has received approval for three vending patents, giving the company the ability to quickly transform millions of vending machines into intelligent terminals at lower cost, according to a company news release.

The patents enable the customer interface, including the card reader and LCD display, to be more easily and cost effectively installed into a vending operator's existing vending machines. The new hardware operates in conjunction with the coin mechanism and bill validator and installs into the same space traditionally allocated for the bill validator.

The patents will strengthen the company's competitiveness in vending technology, USA Technologies president and CEO Stephen P. Herbert said.

"We are determined to dominate in cashless transactions not only for the $40 billion vending industry, but also the global point-of-sale, kiosk, multimedia and other unattended point-of-sale industries," Herbert said in the release.

USA Technologies has 17 patents pending that relate to electronic commerce, identification data, point-of-sale, interactive media, incentive-based vending and loyalty vending. Additional patents had been filed to cover wireless networking, payment processing, cashless micro transactions and remote auditing. The company targets industries such as vending, office equipment, commercial laundries, kiosks, point-of-sale equipment and automotive telematics.