USA Technologies, a provider of wireless, cashless payment solutions, has entered into a new strategic relationship with Chase Commerce Solutions, the payment processing, of JPMorgan Chase.
Under the deal, USA Technologies will provide Chase access to new customer base via the unattended self-service retail market space.
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As per USAT estimates, the market size of self-service retail market space is over $120bn in annual transaction volumes, and 13-15 million potential "merchant locations" in the US.
The deal is expected to enable USAT to scale more rapidly and to expand its product lines into new domestic and global verticals and markets.
USA Technologies CFO Dave DeMedio said: "This strategic relationship represents the first step with Chase Commerce Solutions toward expanding our footprint through leveraging inherent economies of scale."
Chase Commerce Solutions market president US Kimberly Fitzsimmons said: "We are pleased to work with USA Technologies, a market leader in this important and rapidly emerging space to accept all types of payments easily and securely."
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