USA Technologies, Inc. (NASDAQ: USAT) (“USAT”), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today announced the company has been awarded patent number US10,861,276B1 by the United States Patent and Trademark Office (USPTO). The patent, titled “Method and System of Personal Vending,” adds to USAT’s deep intellectual property portfolio, and is focused on addressing the needs of consumers.
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The patent was developed and co-authored by Chief Revenue Officer, Anant Agrawal, with a focus on creating an unmatched shopping experience at an unattended retail location, by reimagining the customer journey through the consumer’s mobile device. The invention can utilize mobile apps as a powerful tool, combining the convenience of unattended retail with loyalty, and leveraging online shopping behaviors to create multiple points of delight for consumers, turning vending into the preferred shopping and refreshment destination.
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“Our Company has a successful track record of delivering some of the most successful innovations for unattended retail on our cloud platform with cashless payments and advanced logistics applications. Our goal is to continue to build on this platform and bring the next wave of evolution to the unattended and self-serve retail markets,” said Sean Feeney, chief executive officer, USA Technologies. “This patent will give our customers the ability to leverage the benefits of eCommerce and mobile shopping experiences that shoppers already love, to the unattended market by offering a frictionless, personalized, and engaging shopping experience with machines on our platform, that already delight the consumer with instant gratification.”
USAT provides the industry’s most wide-ranging suite of services designed to connect the unattended and self-serve retail business to more sales, better operating data and stronger relationships with customers. Its Platform as a Service (PaaS) enables the world to “buy it and go.”
