<SEC-DOCUMENT>0001140361-20-007045.txt : 20200326
<SEC-HEADER>0001140361-20-007045.hdr.sgml : 20200326
<ACCEPTANCE-DATETIME>20200326170020
ACCESSION NUMBER:		0001140361-20-007045
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200320
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20200326
DATE AS OF CHANGE:		20200326

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:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		20746764

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>8-K
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt;">Washington, D.C. 20549</div>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 8-K</div>
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        <div style="text-align: center; color: #000000;">Current Report Pursuant to Section 13 or 15(d) of</div>
        <div style="text-align: center; color: #000000;">The Securities Exchange Act of 1934</div>
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        <div style="text-align: center; color: #000000;">Date of report (Date of earliest event reported): March 20, 2020</div>
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        <div style="text-align: center; color: #000000;"><font style="font-size: 24pt; font-weight: bold;">USA TECHNOLOGIES, INC</font><font style="font-size: 24pt;">.</font></div>
        <div style="text-align: center; color: #000000;">(Exact name of registrant as specified in its charter)</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">Pennsylvania</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">001-33365</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">232679963</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">(State or other jurisdiction of incorporation or organization)</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">(Commission File Number)</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">(I.R.S. Employer Identification No.)</div>
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        <div style="text-align: center; color: #000000;">100 Deerfield Lane, Suite 300</div>
        <div style="text-align: center; color: #000000;">Malvern, Pennsylvania 19355</div>
        <div style="text-align: center; color: #000000;">(Address of principal executive offices and zip code)</div>
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        <div style="text-align: center; color: #000000;">Registrant&#8217;s telephone number, including area code: 610-989-0340</div>
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        <div style="text-align: center; color: #000000;">n/a</div>
        <div style="text-align: center; color: #000000;">Former name or former address, if changed since last report</div>
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        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">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="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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                    <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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                    <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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                    <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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        <div style="color: #000000;">Securities registered pursuant to Section 12(b) of the Act:</div>
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                <div style="text-align: center; margin-right: 0.75pt; color: rgb(35, 31, 32);">Title of each class</div>
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                <div style="text-align: center; color: #231F20;">Trading</div>
                <div style="text-align: center; color: #231F20;">Symbol(s)</div>
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                <div style="text-align: center; color: rgb(35, 31, 32);">Name of each exchange on which registered</div>
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                <div style="margin-right: 0.75pt; color: rgb(0, 0, 0);">Common Stock, no par value</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">USAT</div>
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                <div style="color: rgb(0, 0, 0);">The NASDAQ Stock Market LLC</div>
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                <div style="margin-right: 0.75pt; color: rgb(0, 0, 0);">Series A Convertible Preferred Stock, no par value</div>
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                <div style="text-align: center; color: rgb(0, 0, 0);">USATP</div>
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            <td style="width: 36.27%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div>
                <div style="color: rgb(0, 0, 0);">The NASDAQ Stock Market LLC</div>
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        <div style="text-align: justify; color: rgb(0, 0, 0);">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities
          Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
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        <div style="text-align: right; color: rgb(0, 0, 0);">Emerging growth company &#9744;</div>
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        <div style="text-align: justify; color: #000000;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
          provided pursuant to Section 13(a) of the Exchange Act.&#160; &#9744;</div>
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                <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 1.01.</td>
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                  <div style="font-weight: bold;">Entry into a Material Definitive Agreement.</div>
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        <div style="text-align: justify; color: rgb(0, 0, 0);">On March 20, 2020, USA Technologies, Inc. (the &#8220;Company&#8221;), First Data Merchant Services LLC (&#8220;First Data&#8221;), and Wells Fargo Bank, N.A., entered into a Payment Solutions Agreement (the
          &#8220;Agreement&#8221;).</div>
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        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);">Pursuant to the Agreement, and following the initial six month implementation period, First Data will be the Company&#8217;s primary provider (as such term is defined in the Agreement) of credit and
          debit card transaction processing services (including data capture, authorization, or settlement of transactions). The Agreement applies to payment transactions submitted from locations in the United States.</div>
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        <div style="text-align: justify; color: rgb(0, 0, 0);">The term of the Agreement commenced on March 20, 2020, and following the initial six month implementation period, will continue for a five year period. The Agreement is automatically renewed
          for consecutive one-year periods thereafter unless the Agreement is terminated by First Data or the Company upon at least 90-days&#8217; notice prior to the end of the initial five year period or at any time during a one-year renewal term.</div>
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        <div style="text-align: justify; color: rgb(0, 0, 0);">The Company will pay to First Data the fees and charges set forth in the Agreement, including acquiring fees charged by First Data and fees imposed on the payment transactions by the payment
          organizations and networks and other third parties. The Agreement provides that First Data will provide certain incentive or other payments or credits to the Company during the term of the Agreement.</div>
        <div><br>
        </div>
        <div style="text-align: justify; color: rgb(0, 0, 0);">The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the Agreement, which is to be filed as an exhibit to
          the Company&#8217;s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020.</div>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">SIGNATURES</div>
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        <div style="text-align: justify; color: rgb(0, 0, 0);">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>&#160;</div>
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                  <div style="text-align: justify; color: rgb(0, 0, 0);">USA TECHNOLOGIES, INC.</div>
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                <td rowspan="1" style="width: 50%;">&#160;</td>
                <td rowspan="1" style="width: 3%;">&#160;</td>
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                  <div style="text-align: justify; color: rgb(0, 0, 0);">Dated: March 26, 2020</div>
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                <td style="width: 3%;">By:</td>
                <td style="width: 47%;"> <u>/s/ Donald W. Layden, Jr.</u></td>
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                  <div>&#160;</div>
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                <td style="width: 47%;">Donald W. Layden, Jr.,</td>
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                <td rowspan="1" style="width: 50%;">&#160;</td>
                <td rowspan="1" style="width: 3%;">&#160;</td>
                <td rowspan="1" style="width: 47%;">President and Chief Executive Officer</td>
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