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Here is the latest news release....
Business Express(TM), World's First Fully Automated Credit Card Activated Business Center, Debuts at International Hotel/Motel Show Business Express(TM), World's First Fully Automated Credit Card Activated Business Center, Debuts at International Hotel/Motel Show November 7, 1996, 7:01 AM EST
WAYNE, Pa., Nov. 7 /PRNewswire/ -- George R. Jensen, Jr., president and chief executive officer of USA Technologies, Inc. (OTC BULLETIN BOARD: USTT) announced today the introduction of the company's Business Express(TM) Self- Service Business Center(TM) to the hospitality industry at the International Hotel/Motel & Restaurant Show (IHM&RS) held in New York City, November 9 - 12. Designed especially for the business traveler, Business Express, which requires no staffing and no administrative support, is an attractive, self- contained, turnkey business systems unit that combines a personal computer, printer/copy machine, and fax machine under one roof, providing credit-card access to computer and other business services, including Internet usage.
USA Technologies (Booth 3180 at the show) and its cooperative marketing partners have teamed up to mark the introduction of this state-of-the-art business solution at the IHM&RS by giving away a Business Express (a $16,000 value) during the show.
According to Stephen P. Herbert, USA Technologies' executive vice president of marketing and sales, Business Express adds a new dimension and is well suited to satisfy an established need in the hospitality business, which boasts over 45,000 properties in the United States alone (Source: American Hotel & Motel Association, 1995). "With nearly 85 percent of business travelers, a prime source of revenue for the industry, having cited a need for `on-the-fly' business services (Frequent Flyer magazine, June 1996), the hospitality industry represents a key market for Business Express," said Herbert.
Herbert noted that, even prior to formal introduction, USA Technologies has placed Business Express units with Holiday Inn, Sheraton, Westin, Embassy Suites and Marriott Courtyard, to name a few. According to Herbert, early indications are that the hospitality industry needs little education relative to the appropriateness of a product with the ability to create a new profit center based on key customer needs. "With a number of other property owners, operators and managers having already expressed an interest in Business Express as a 24-hour/7-day business services solution, we expect the hospitality industry to be highly receptive to the product," he said.
All equipment in the free-standing, Business Express system, currently available as a 38 square-foot kiosk or a 22 square-foot wall-mounted unit, is activated via USA Technologies' patented TransAct(TM) payment and control technology. Users simply swipe a credit card to gain access to their choice of business equipment and services. TransAct enables the processing of real- time, accurate, centralized `pay-as-you-go,' billing for services used, performing all accounting functions and ensuring the timely issuance of a check to the host location operator.
Founded in 1992, USA Technologies, Inc. is a leading owner and licensor of credit card activated control systems for the personal computer, copier, facsimile and vending industries. The company's proprietary devices make available unattended control systems technology for credit card payments in connection with the sale of a variety of products and services. USA Technologies, Inc.'s unattended credit card Business Express(TM), PC Express(TM), Copy Express(TM), and Fax Express(TM) are offered to commercial outlets for sale and through leasing agreements. SOURCE USA Technologies, Inc.
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The company has great products and has been consistently making new sales. This stock has been beaten down for no reason and is poised for a tremendous bounce.
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