MALVERN, PA — USA Technologies, Inc. (OTC: USAT), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, announced it has enhanced its ePort product family. USAT’s ePort G10-Chip reader is EMV certified and accepts contact EMV (chip cards) and contactless EMV (tap) payment methods. The company also announces it has completed a free over-the-air upgrade to its ePort G10-S to enable acceptance of contactless EMV payments. These enhancements were rolled out beginning in February, prior to the COVID-19 outbreak, enabling operators to offer their customers more ways to pay via cashless and contactless methods.
Europay, Mastercard, Visa (“EMV”) jointly established the security standard which increases the security of consumer financial data vs traditional mag-swipe payments. Contact EMV (also known as “chip” or “dip”) is the method of payment where consumers insert their debit card or credit card into the slot of the terminal and wait for the purchase to be authorized. Contactless EMV (also known as “tap”) is the method of payment where consumers with contactless-enabled cards or digital wallets tap or wave their card or device over an EMV Contactless enabled terminal.
USAT has expanded its capabilities to accept EMV payments for operators who wish to provide consumers with premium fraud protection. The EMV security features for both the ePort G10-Chip and ePort G10-S are the same. Now, these businesses can use USAT’s new offerings to stand out in the market, and deliver a better consumer experience, driven by the increased demand in “tap and go” or cashless that has accelerated since the onset of COVID-19. A recent study conducted by USAT found that since the start of the pandemic, the unattended retail industry has seen a steady decline in the use of cash, as well as an increase in contactless transactions that outpaced non-contactless transactions by 8x.
“We continuously enhance our product portfolio in order to provide our customers with the latest technology in payments. As part of this commitment, we began deploying the next phase of our EMV capabilities in early February to address operators’ increasing security requirements. The new EMV Chip reader is a new addition to our product portfolio that enables us to address market needs and future requirements,” said Jeff Vogt, chief operating officer, USA Technologies. “Our goal is to help reduce the threat of credit fraud by providing our customers with enhanced fraud protection through security innovations such as EMV contact and contactless solutions. We are pleased to offer these innovations as self-serve and unattended technologies gain in popularity with younger generations and include higher-ticket items outside of traditional snacks.”
The New ePort G10-Chip Reader
The ePort G10-Chip is a new cashless reader that will accept contact EMV (chip cards) and contactless EMV (tap) payment methods. The reader will function with the existing G10 telemeter and will report into USA Live or Seed just like a G10-S reader. USAT launched the device to extend its product portfolio to meet all customer needs, and the reader is not meant to replace the G10-S for most operators. Orders for the ePort G10-Chip Reader are now being accepted.
The ePort G10-S EMV “Over the Air” Upgrade for Contactless Payments
In an effort to continuously innovate and future proof our devices in the field, this past February, ePort G10-S received a free over-the-air upgrade, enabling contactless EMV payments, to the majority of existing connected readers. Newer G10 units bundled with the Vendi version of the reader were also compatible with this upgrade, however, non-Vendi readers were not compatible, so have not been upgraded. The device upgrading was rolled out over cellular networks, without the need of a tech on premise, and over 250,000 devices have already received the free over-the-air-upgrade.
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