slvfx... I, too, appreciate your thoughts... hope you didn't think I was ignoring your post... actually, it was informative...but I haven't had the time to really peruse it deeply enough to respond adequately... I hope to do so soon... In the meantime, here is USTT's latest press release...
Thursday August 20, 1:44 pm Eastern Time
Company Press Release
SOURCE: USA Technologies Inc.
USA Technologies Files Three New Patent
Applications Covering New Technology for Electronic Commerce and
Interactive Advertising
Company is Developing Electronic Commerce and Interactive Advertising Technology That
Exports Advertising Content Off the Infrastructure of the Internet
WAYNE, Pa., Aug. 20 /PRNewswire/ -- USA Technologies Inc. (OTC Bulletin Board: USTT - news) announced today that
it has filed three applications with the United States Patent Office with regards to its proprietary technology involving electronic
commerce and interactive advertising. The company announced that it is in the process of developing a hybrid credit
card/electronic commerce terminal.
''One of our primary goals is to become the preferred method and industry standard for self-serve, public access e-commerce.
By 2001, the electronic commerce market is estimated to be at $270 billion, and today the interactive advertising market is
currently estimated at $186 billion,'' said George R. Jensen, Jr., chairman and chief executive officer of USA Technologies.
''This new technology is intended to allow advertisers and merchants to leverage their strategies for internet advertising and
e-commerce -- reaching consumers beyond the internet.
''In the near future, our touch-screen credit card terminal is intended for locations where consumers would like to pay by credit
card for goods, services and/or information in an unattended manner. This would give advertisers access to a targeted, captive
audience while they conduct everyday transactions,'' continued Jensen. ''In addition, the consumer can respond to the
advertisement for additional information on advertised products -- even engaging in a purchase.''
''Our new terminal, already in development, is intended to utilize open architecture to enable effective integration into all types
of host equipment including, but by no means limited to, USA's Public PC(TM) as well as other self-serve automated office
equipment,'' said Brock Kolls, senior vice president, research and development, of USA Technologies. ''We believe the
technology will also have broad impact in the mass transit, communications and vending industries.
''We are developing a universal point-of-sale solution whereby companies can utilize the infrastructure of the internet to run
interactive advertisements on a touch-screen credit card terminal. Our technology is intended to give consumers quicker and
easier access to goods, services and information while making their routine transactions with their preferred method of payment,
credit cards,'' continued Kolls. ''This technology elevates both electronic commerce and interactive advertising to a higher level
- beyond the internet.
''One application that we are very enthusiastic about is the ability to work with internet search engines,'' concluded Kolls. ''Our
new technology provides internet search engines with the opportunity to export their advertising content off of the internet into
mainstream points of commerce, such as the vending industry. These search engines will be reaching consumers in a universe
outside of the traditional internet. By reaching consumers with their advertising content, they are thus creating the opportunity to
drive the same consumer back onto the internet should the consumer be inclined to further explore the product or service being
advertised.''
''This exciting new technology will be packaged with our existing proprietary technology, TransAct(TM),'' continued Jensen.
''TransAct -- the world's first network controlled, unattended credit card terminals -- are capable of processing unattended
credit card-transactions as low as one dollar cost-effectively. Among the first products utilizing TransAct are MBE Business
Express(TM) and USA's Public PC. In the very near future, however, consumers will have the option of purchasing small ticket
items in millions of potential host locations that feature our next generation of TransAct terminals.
''Specific examples include vending purchases, mass transit or taxi fares, movie tickets etc., all done with a credit card in an
unattended manner,'' said Jensen. ''It is while consumers make these routine purchases that they will be exposed to the
interactive advertising and electronic commerce applications via a color touch-screen located on the host equipment. The
opportunity for merchants of all types to reduce or eliminate labor costs while adding value for consumers is enormous.
''With so many potential applications for this new technology, we look forward to pursuing licensing and partnership
arrangements in various industries, including credit/smart cards, e-commerce/internet advertising, vending, etc.'', added Jensen.
''USA Technologies has filed applications for twelve patents and has been issued two patents. These patents contain hundreds
of innovative claims related to Public PCs, automated business centers, unattended public access electronic commerce and
interactive advertising.'' said Jensen. ''Our terminal's capability to facilitate e-commerce/interactive advertising is intended to be
a logical progression beyond our proprietary TransAct technology.''
USA Technologies is the developer and owner of TransAct, a proprietary technology that allows consumers to purchase items
for as little as one dollar, using their credit cards in an unattended setting. These transactions, once cost prohibitive due to
processing costs, have been made cost effective by TransAct's patented batch processing technology -- helping to make the
cashless society a reality. The technology is currently being implemented in USA's Public PC, as well as MBE Business
Express -- a joint venture product with Mail Boxes Etc. Activated with a credit card utilizing TransAct, MBE Business Express
is a self-serve, automated business center, allowing the use of a computer, the internet, a photocopier, printer and fax machine
24-hours per day.
USA Technologies is also the leading owner and licenser of networked credit card-activated control systems for the personal
computer, photocopier, facsimile and laptop printing capabilities. The company's proprietary technologies make available
unattended, point-of-sale control systems for credit card payments. USA's web site is usatech.com.
Statement Under the Private Securities Litigation Reform Act With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually
or mutually impact the matters herein described, including but not limited to product acceptance, economic, competitive,
governmental, results of litigation, technological and/or other factors, which are outside the control of the Company.
SOURCE: USA Technologies Inc.
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