MALVERN, Pa.–(BUSINESS WIRE)–USA Technologies, Inc. (NASDAQ:USAT) (“USAT”), a payment technology provider of cashless and mobile transactions in self-serve retail, today announced that Sneaker Syndicate, a high-end athletic shoe boutique in Orlando, Florida, has launched a series of self-serve amusement kiosks that allow consumers to win sneakers, which leverage USAT’s ePort Connect® cashless payment systems.
According to AnythingResearch, the amusement arcades market is approaching being a $2 billion industry, and cashless payments represent a huge growth opportunity for the still largely cash-based market. With what we believe to be a low barrier to entry, this is an industry ripe with opportunity. Sneaker Syndicate has deployed USAT’s cashless payment technology on an amusement “Crane Game” as part of a marketing strategy for its retail location. For five dollars, shoppers could test their luck at winning high-end footwear such as Adidas Yeezy Boosts or Nike Air Jordans – sneakers that range in value between $300 and $2,000.
[Here is separate writeup on game site with pictures]
One month after installing USAT’s state-of-the-art ePort Connect cashless payment systems onto a small number of the store’s amusement machines, sales nearly doubled, with cashless transactions accounting for about 45 percent of the machines’ intake. Given the positive results, the company now plans to expand its business over the next two years with additional machines at a variety of East Coast locations.
“Because of USA Technologies, we are developing franchise agreements with companies across the East Coast for our popular high-end shoe amusement machines,” said Stewart Bryant, owner, Sneaker Syndicate. “The ability to easily accept payments using the ePort platform has made a critical difference for us. This technology has opened the door to a new world of amusement and vending games.”
Implementing ePort Connect on its kiosks has given Sneaker Syndicate the ability to track the acceptance of cash, credit/debit cards, NFC and mobile wallet payments such as Apple, Android and Samsung Pay. The connected nature of the devices also gives the growing company critical remote access to sales and payout data for all of its machine locations.
“The opportunity for the unattended retail market is greater than ever. In the amusement and gaming industry, going cashless not only enables more payment options, and increased revenue potential, but also allows for the sale of game credits. Additionally, the MORE loyalty program facilitates repeated sales of games,” says Maeve Duska, senior vice president of Sales and Marketing, USA Technologies. “More and more consumers are also going cashless simply recognizing that the convenience of paying with their mobile wallet is as simple as tap and go.”
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