PA-based USA Technologies (USAT) has inked a multi-year agreement strategic deal with Chase Commerce Solutions (CCS). The agreement will give USAT a bigger reach for products and services domestically as well as outside the U.S and CCS will gain access to a new customer base via the unattended self-service retail market space.
USAT says through a multi-year agreement, self-service retailers can benefit from USAT’s best-in-class cashless payments and M2M/IoT service with the added strength, security and expanded reach of Chase Commerce Solutions’ market-leading payment processing.
With payment options such as credit card, debit card and mobile payment options available to consumers, USAT’s portfolio of cashless payment, telemetry and consumer engagement services help self-serve retail businesses’ transition to cashless acceptance easy and frictionless.
The companies believe that this strategic relationship brings greater opportunities for USAT to scale more rapidly, and to expand its product lines into new domestic and global verticals and markets, while providing Chase Commerce Solutions inroads into the self-service retail markets. USAT estimates the market size at more than $120 billion in annual transaction volumes, and 13-15 million potential “merchant locations” in the U.S.
USA Technologies is a leader of wireless, cashless payment and M2M/IoT telemetry solutions for small-ticket, self-serve retailing industries. ePort Connect is the company’s flagship service platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services specially tailored to fit the needs of small ticket, self-service retailing industries.
USA Technologies has been granted 87 patents; and has agreements with Verizon, Visa, MasterCard, and customers such as Compass and others.
Chase Commerce Solutions is comprised of Chase Paymentech, its global merchant acquiring business, Chase Pay, its proprietary online digital wallet and ChaseNet, its customized closed-loop proprietary payments platform. Commerce Solutions is a leading provider of payment, fraud and data security for companies large and small and capable of authorizing transactions in more than 130 currencies. The business enables integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as alternative and mobile. In 2014, Commerce Solutions processed 38.1 billion transactions with a value of $847.9 billion.
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