Consumer Insights

USA Technologies’ Payments Platform Wins IoT Evolution Award

The mobile payments industry moves so fast that it can be hard sometimes to pick out the companies that are truly setting the standard for seamless transactions and reliable security. Thankfully, IoT Evolution sifted through the chaff to find a true winner.

IoT Evolution announced Tuesday (Feb. 2) that it had awarded its 2015 Smart Machines Innovation Award to USA Technologies, a mobile payments platform provider responsible for a cutting-edge, end-to-end mobile system called ePort Connect that currently services 369,000 discreet connections across America. USA Technologies Chairman and CEO Stephen P. Herbert said that the award validates what his company has been trying to achieve with ePort Connect since day one.

“EPort Connect is a smart technology infrastructure that enables owners and operators to use analytics to gain insight into consumer purchasing behavior and their business, while simultaneously building loyalty with consumers in real time — which, we believe, will drive improved business results in the self-serve retail market,” Herbert said in a statement. “We are thrilled to accept the IoT Evolution Smart Machines Innovation Award, as it is indicative of our continued leadership and innovation within the payments industry.”

Nasdaq reported that the good news sent USA Technologies’ shares up 6 percent in a single day. The news comes at a welcome time for the company, which was experiencing something of a downturn with its stock market luck since the beginning of the new year. However, Corvus Business explained that the addition of a new hedge fund investment partner — plus the award from IoT Evolution — should get USA Technologies’ Wall Street fortunes back on track. In fact, several securities funds had already upgraded their recommendations on USA Technologies from $4.00 per share to $4.50, with a consensus price of $4.17.

With that kind of start to February, USA Technologies’ slow start to 2016 could be a distant memory come spring.

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