USA Technologies Expands Interactive Media and Content Delivery with VendScreen Acquisition
USA Technologies, a leading payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, has expanded its capability with interactive media and content delivery through the acquisition of vending industry cashless payment technology developer, VendScreen.
USAT acquired the Oregon-based startup’s cloud-based content delivery platform, device platform and products, customer base and intellectual property for about $5.6 million.
VendScreen’s acquisition will help USAT improve customer loyalty, drive recurring sales, and provide customers with access to improved payment technology capabilities and consumer engagement services.
With the acquisition, USAT gains a West Coast operational footprint and a talented team that will help provide expanded customer services, sales and technical support to its more than 10,000 consumer base.
VendScreen has developed an advanced interactive media, content delivery system, and touchscreens for the self-service retail market.
Its NFC-enabled vending application delivers enhanced vendor management system (VMS) integration and consumer product information.
Aside from being compatible with mobile wallets such as Android Pay and Apple Pay, the application supports instant refunds, couponing, advertising and real-time consumer feedback to owners and operators.
Stephen P. Herbert, chairman and chief executive officer, USA Technologies, commented, “If 2015 was the year of mobile payments, 2016 is going to be the year of consumer engagement. As consumers and retailers become more accustomed to cashless and mobile payments, companies want to leverage information provided through a cashless and mobile payments environment to engage with the consumer at point-of-sale. Whether it’s vending operators, retail, brand or technology partners, corporations are looking for ways to move beyond a simple transaction. Our acquisition of VendScreen’s technology further connects our partners and customers directly to the consumer at point-of-sale, and the possibilities are limitless. Whether it be through advertising, research, or loyalty, this technology will meet the demand of an increasingly customized retail experience and, we believe it will offer opportunities to engage with a consumer in ways that drives revenues. And we’re only just scratching the surface.”