<SEC-DOCUMENT>0001140361-15-017047.txt : 20150430
<SEC-HEADER>0001140361-15-017047.hdr.sgml : 20150430
<ACCEPTANCE-DATETIME>20150430163647
ACCESSION NUMBER:		0001140361-15-017047
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150424
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20150430
DATE AS OF CHANGE:		20150430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		15819352

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 140
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
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<TYPE>8-K
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<DESCRIPTION>USA TECHNOLOGIES INC 8-K 4-24-2015
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<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt;">Washington, D.C. 20549</div>

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<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 18pt;">FORM 8-K</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Current Report Pursuant to Section 13 or 15(d) of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Date of report (Date of earliest event reported): April 24, 2015</div>

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<div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 24pt;">USA TECHNOLOGIES, INC.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">100 Deerfield Lane, Suite 140</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Malvern, Pennsylvania 19355</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Registrant&#8217;s telephone number, including area code: 610-989-0340</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">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:</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: 'Times New Roman', serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1.01 Entry Into a Material Definitive Agreement</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">On April 24, 2015, USA Technologies, Inc. (the "Company"), JPMorgan Chase Bank, N.A. (&#8220;Member&#8221;), and Paymentech, LLC ("Chase Paymentech") entered into a Third Party Payment Processor Agreement (the "Agreement"). The term of the Agreement is for five years, and is automatically renewed for consecutive one-year periods unless terminated by Chase Paymentech or the Company upon at least 30-days&#8217; notice prior to the end of the initial or any renewal term.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Pursuant to the Agreement, Chase Paymentech, through the Member, will act as the provider of credit and debit card transaction processing services (including authorization, conveyance and settlement of transactions) to the Company and its customers. The Agreement applies only to transactions generated in the United States. The Agreement provides that Chase Paymentech will act as the exclusive provider of transaction processing services to the Company and its customers for at least 250,000,000 transactions per year.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Agreement states that the Company assumes full financial liability to Chase Paymentech for transactions submitted to Chase Paymentech on behalf of the Company&#8217;s customers as well as for any disputed transactions. The Company is also responsible to Chase Paymentech for its and its customers&#8217; compliance with all rules and requirements of the credit and debit card providers, including Visa and MasterCard, and applicable legal requirements in connection with the processing of the transactions.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Company will pay Chase Paymentech the fees and charges set forth in the Agreement. These include the fees and charges of Chase Paymentech as well as the charges, fees and assessments of the credit and debit card providers. The Agreement provides that Chase Paymentech may modify the pricing for its services upon 30-days&#8217; notice, and in connection with certain such increases, the Company has the right to terminate the Agreement upon 120-days&#8217; notice.</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">The Company anticipates that it will commence processing transactions under the Agreement within the next sixty (60) days, and that its existing processing agreement with Elavon, Inc. will be terminated at that time.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">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.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">USA TECHNOLOGIES, INC.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Dated: April 30, 2015</div>
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<div style="text-align: left; font-variant: normal; font-style: normal; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: normal;"><u>/s/ Stephen P. Herbert</u></div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Stephen P. Herbert,</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 10pt">Chief Executive Officer</div>
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