USA Technologies Inc., www.usatech.com, a provider of wireless, cashless payment and IoT (Internet of Things) solutions for small-ticket, self-serve retailing industries and Chase Commerce Solutions, www.chasepaymenttech.com, the global payment processing, merchant acquiring, and offers business of JPMorgan Chase & Co., announced a new strategic relationship.
Through a multi-year agreement, self-service retailers can benefit from USA Technologies’ cashless payments and M2M/IoT service with the added strength, security, and expanded reach of Chase Commerce Solutions’ payment processing.
With payment options such as credit card, debit card, and mobile payment available to consumers, USAT’s portfolio of cashless payment, telemetry, and consumer engagement services help self-serve retail businesses’ transition to cashless acceptance.
The companies believe this strategic relationship brings greater opportunities for USA Technologies 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.
USA Technologies estimates the market size at more than $120 billion in annual transaction volumes, and 13-15 million potential merchant locations in the U.S.
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