SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM
8-K
Current
Report Pursuant to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
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Date
of
report (Date of earliest event reported): June 7, 2006
USA
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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Pennsylvania
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33-70992
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23-2679963
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(State
or other jurisdiction
of
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(Commission
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(I.R.S.
Employer
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incorporation
or organization)
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File
Number)
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Identification
No.)
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100
Deerfield Lane, Suite 140
Malvern,
Pennsylvania 19355
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: 610-989-0340
n/a
Former
name or former address, if changed since last report
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
7.01. REGULATION FD DISCLOSURE
As
previously reported, during September 2005, the Company entered into an
agreement with a leading global payments solutions company pursuant to which
the
Company will utilize its e-Port technology and related network in order to
allow
beverage vending machines to accept payment through the use of contactless
credit cards as well as swipe card acceptance. The agreement initially covered
approximately 140 beverage vending machines located in five cities in the United
States. As a result of the successful outcome of this pilot, the Company and
the
global payments solutions company have entered into a new agreement for the
commercial deployment of the Company’s G-6 e-Port in a major U.S. city.
The
new
statement of work provides for the sale of the Company to the global payment
solutions company of 1,000 G-6 e-Ports. The e-Ports will be installed in
beverage vending machines located in one large metropolitan city. The vending
machines are owned by a leading soft drink bottler representing a major global
brand. The global payment solutions company will provide point of sale
advertising and local market programs to promote broad consumer use of cashless
vending. The Company will receive $395,000 from the global payments solutions
company. The Company will also receive its customary activation, network and
processing fees from the soft drink bottler. Installation of the e-Ports is
anticipated to begin in July 2006. The Company is also in discussions with
the
global payments solutions company for similar deployments in other large
metropolitan cities.
The
information in Item 7.01 of this Report should not be deemed to be “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that section.
SIGNATURES
Pursuant
to the Securities Exchange Act of 1934, the Company has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
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USA
TECHNOLOGIES,
INC. |
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By: |
/s/ George
R.
Jensen, Jr. |
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George
R. Jensen, Jr. |
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Chief
Executive Officer |
Dated:
June 13, 2006