<SEC-DOCUMENT>0000914121-20-002399.txt : 20200706
<SEC-HEADER>0000914121-20-002399.hdr.sgml : 20200706
<ACCEPTANCE-DATETIME>20200706090510
ACCESSION NUMBER:		0000914121-20-002399
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200629
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200706
DATE AS OF CHANGE:		20200706

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:		201012293

	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
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<FILENAME>us55120170-8k.htm
<DESCRIPTION>FORM 8K
<TEXT>
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    <div style="text-align: center; margin-top: 6pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-top: 6pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">WASHINGTON<font style="font-size: 10pt; color: rgb(0, 0, 0);">, D.C. 20549</font></div>
    <div style="text-align: center; margin-top: 6pt; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">FORM<font style="color: rgb(0, 0, 0);"> 8-K</font></div>
    <div style="text-align: center; margin-top: 6pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">CURRENT<font style="color: rgb(0, 0, 0);"> REPORT</font><br>
      <font style="color: rgb(0, 0, 0);">PURSUANT TO SECTION 13 OR 15(d) OF THE</font><br>
      <font style="color: rgb(0, 0, 0);">SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><br>
      Date of Report (date of earliest event reported):<font style="font-weight: bold; color: rgb(0, 0, 0);"> June 29, 2020</font></div>
    <div style="text-align: center; margin-top: 6pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">USA TECHNOLOGIES, INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Exact name of registrant as specified in its charter)</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf99793e7e32a4e1ba3c03e36195ca0d6">

        <tr>
          <td style="width: 37.71%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="border-bottom: 0.5pt solid black;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Pennsylvania</div>
            </div>
          </td>
          <td style="width: 2.06%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 26.23%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="border-bottom: 0.5pt solid black;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">001-33365</div>
            </div>
          </td>
          <td style="width: 2.06%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 31.93%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="border-bottom: 0.5pt solid black;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">232679963</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.71%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(State or other jurisdiction of incorporation<br>
              or organization)</div>
          </td>
          <td style="width: 2.06%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 26.23%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(Commission<br>
              File Number)</div>
          </td>
          <td style="width: 2.06%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 31.93%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(IRS employer<br>
              identification number)</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="width: 48.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2.16%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 48.88%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="width: 48.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">100 Deerfield Lane, Suite 300</div>
          </td>
          <td style="width: 2.16%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 48.88%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="width: 48.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="border-bottom: 0.5pt solid black;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Malvern, Pennsylvania</div>
            </div>
          </td>
          <td style="width: 2.16%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 48.88%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="border-bottom: 0.5pt solid black;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">19355</div>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="width: 48.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(Address of principal executive offices)</div>
          </td>
          <td style="width: 2.16%; vertical-align: bottom; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="width: 48.88%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center;">(Zip code)</div>
          </td>
        </tr>

    </table>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Registrant&#8217;s telephone number, including area code:<font style="font-weight: bold; color: rgb(0, 0, 0);"> 610-989-0340</font></div>
    <div style="text-align: justify; margin-top: 8pt; font-family: 'Times New Roman',Times,serif;">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>
    <div style="text-align: justify; margin-top: 8pt;">&#9744;<font style="font-family: 'Times New Roman',Times,serif; font-size: 3pt; color: rgb(0, 0, 0);">&#160; </font><font style="font-family: 'Times New Roman',Times,serif;">Written communications pursuant to
        Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="text-align: justify; margin-top: 8pt;">&#9744;<font style="font-family: 'Times New Roman',Times,serif; font-size: 3pt; color: rgb(0, 0, 0);">&#160; </font><font style="font-family: 'Times New Roman',Times,serif;">Soliciting material pursuant to Rule
        14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
    <div style="text-align: justify; margin-top: 8pt;">&#9744;<font style="font-family: 'Times New Roman',Times,serif; font-size: 3pt; color: rgb(0, 0, 0);">&#160; </font><font style="font-family: 'Times New Roman',Times,serif;">Pre-commencement communications
        pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
    <div style="text-align: justify; margin-top: 8pt;">&#9744;<font style="font-family: 'Times New Roman',Times,serif; font-size: 3pt; color: rgb(0, 0, 0);">&#160; </font><font style="font-family: 'Times New Roman',Times,serif;">Pre-commencement communications
        pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
    <div style="text-align: justify; margin-top: 8pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <table cellspacing="0" cellpadding="2" border="0" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6cf74711d8724a9babfa420d171c5e20">

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            <div style="text-align: center; margin-right: 0.75pt; color: rgb(35, 31, 32);">Title of each class</div>
          </td>
          <td style="width: 12.77%; vertical-align: bottom; border-left: #000000 2px double; border-right: #000000 2px double; border-top: #000000 2px double; border-bottom: #000000 2px double;">
            <div style="text-align: center; color: rgb(35, 31, 32); font-family: 'Times New Roman',Times,serif;">Trading</div>
            <div style="text-align: center; color: rgb(35, 31, 32); font-family: 'Times New Roman',Times,serif;">Symbol(s)</div>
          </td>
          <td style="width: 36.26%; vertical-align: bottom; border-width: 2px; border-style: double; border-color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center; color: rgb(35, 31, 32);">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50.98%; vertical-align: top; border-width: 2px; border-style: double; border-color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="margin-right: 0.75pt; color: rgb(0, 0, 0);">None</div>
          </td>
          <td style="width: 12.77%; vertical-align: top; border-width: 2px; border-style: double; border-color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: center; color: rgb(0, 0, 0);">None</div>
          </td>
          <td style="width: 36.26%; vertical-align: top; border-width: 2px; border-style: double; border-color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="color: rgb(0, 0, 0);">None</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-top: 8pt; font-family: 'Times New Roman',Times,serif;">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>
    <div style="text-align: justify; margin-top: 8pt; font-family: 'Times New Roman',Times,serif;">Emerging growth company &#9744;<font style="color: rgb(0, 0, 0);"></font></div>
    <div style="text-align: justify; margin-top: 8pt; font-family: 'Times New Roman',Times,serif;">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. &#9744;</div>
    <div style="text-align: justify; margin-top: 8pt; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);"> <br>
      </font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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    <div style="margin-top: 0.3pt; font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="margin-bottom: 8pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
      Officers.</div>
    <div style="background-color: #FFFFFF;">
      <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(b) <font style="font-style: italic;">Departure of Director</font></div>
      <div style="font-family: 'Times New Roman',Times,serif;"><br>
      </div>
      <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">On June 30, 2020, Patricia A. Oelrich resigned from her position as a director on the Board of Directors of USA Technologies, Inc. (the &#8220;<u>Company</u>&#8221;) effective the same
        day. Ms. Oelrich&#8217;s resignation was not the result of any disagreement between Ms. Oelrich and the Company on any matter relating to the Company&#8217;s operations, policies or practices.</div>
      <div style="font-family: 'Times New Roman',Times,serif;"><br>
      </div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-style: italic;">Departure of Chief Financial Officer</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">On June 29, 2020, the Company terminated the employment of Michael Wasserfuhr, its former Chief Financial Officer.</div>
    <div style="background-color: #FFFFFF;">
      <div style="font-family: 'Times New Roman',Times,serif;"><br>
      </div>
      <div><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c) </font><font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">Appointment of Interim Chief Financial Officer</font></div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">On June 29, 2020, the Company appointed Eugene C. Cavanaugh as the Company&#8217;s interim Chief Financial Officer, effective as of July 1, 2020. In connection with his
      appointment, Mr. Cavanaugh entered into an independent contractor agreement with the Company, dated as of June 29, 2020 (the &#8220;<u>Cavanaugh Agreement</u>&#8221;), which provides that Mr. Cavanaugh will be compensated with the following per month of his
      engagement: (i) $15,000 in cash, and (ii) 3,000 shares of Company common stock, in each case prorated for any partial month of service. The Cavanaugh Agreement will remain in effect until the Company appoints a permanent Chief Financial Officer
      (unless earlier terminated by either the Company or Mr. Cavanaugh). The Company has commenced a search for a permanent Chief Financial Officer.</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Mr. Cavanaugh, 63, has over 30 years&#8217; experience in corporate finance, treasury, as well as strategic planning, risk management and operations management, across multiple
      industries - from start-ups, to the Fortune 100. Most recently, he worked as a private investor and consultant, providing CFO level financial management and process improvement for portfolio companies of Triple Tree Capital Partners, an independent
      merchant bank in Minneapolis, and other independent companies. Previously, Mr. Cavanaugh was a member of the executive leadership team at UnitedHealth Group (UHG), a managed health care company, and was the CFO of its $3+ billion Uniprise business
      segment. There, he led the completion of the $1.6 billion MetraHealth acquisition integration, which included building a finance organization, creating a business unit balance sheet and management reporting process, improving internal controls,
      rationalizing legacy systems and reducing DSOs in the national account business. As part of his role as CFO, Mr. Cavanaugh was also Treasurer of UnitedHealthcare Insurance Co. of Connecticut, the primary insurance carrier for UHG&#8217;s non-HMO products
      nationally, and responsible for legal entity reporting and compliance, with Connecticut insurance regulations. Prior to joining UnitedHealth Group, Mr. Cavanaugh managed Arthur Andersen&#8217;s finance and accounting outsourcing practice in Metro
      Philadelphia. He is a graduate of Villanova University.</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">There is no arrangement or understanding between Mr. Cavanaugh and any other persons in connection with Mr. Cavanaugh&#8217;s appointment as interim Chief Financial Officer (other
      than the Cavanaugh Agreement), and Mr. Cavanaugh has no family relationship with any director or executive officer of the Company. Mr. Cavanaugh has no direct or indirect material interest in any transaction with the Company that is reportable under
      Item 404(a) of Regulation S-K, nor have any such transactions been proposed.</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The foregoing summary of the Cavanaugh Agreement does not purport to be complete and is qualified in its entirety by the full text of the Cavanaugh Agreement, which is
      attached to this Current Report on Form 8-K as Exhibit 10.1, and incorporated herein by this reference.</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="font-family: 'Times New Roman',Times,serif;"><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 7.01. Regulation FD Disclosure.</div>
      <div style="font-family: 'Times New Roman',Times,serif;"><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif;">On July 6, 2020, the Company issued a press release announcing, among other things, the appointment of Mr. Cavanaugh as interim Chief Financial Officer and the departure of Mr. Wasserfuhr. <font style="color: rgb(0, 0, 0);">A copy of the press release is filed as Exhibit 99.1 to this Current Report on&#160;Form 8-K&#160;and is furnished herewith.</font></div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="margin-top: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">The press release furnished pursuant to Item 7.01 of this&#160;Form 8-K&#160;(Exhibit 99.1) shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities
        Exchange Act of 1934 (the &#8220;<u>Exchange Act</u>&#8221;), or otherwise subject to the liabilities under that Section. Furthermore, the press release shall not be deemed to be incorporated by reference into any filing under the&#160;Securities Act of 1933&#160;or
        the&#160;Exchange Act.</div>
    </div>
    <div style="margin-top: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 9.01 Financial Statements and Exhibits.</div>
    <div style="margin-top: 12pt;"><font style="font-family: 'Times New Roman',Times,serif;">(<font style="font-weight: bold;">d) Exhibits</font><br>
      </font><font style="font-family: 'Times New Roman',Times,serif;"><br>
      </font></div>
    <table cellspacing="0" cellpadding="3" border="0" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9b6bba9df8004122be0ff0947fca7ef3">

        <tr>
          <td style="width: 11.71%; vertical-align: bottom; border-bottom: #000000 1px solid;">
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Exhibit Number</div>
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
          <td style="width: 2.14%; vertical-align: bottom; border-bottom: #000000 1px solid;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">&#160;</div>
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
          <td style="width: 86.15%; vertical-align: bottom; border-bottom: #000000 1px solid;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Exhibit Description</div>
            <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 11.71%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>10.1</div>
          </td>
          <td style="width: 2.14%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 86.15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div style="text-align: justify;">Independent Contractor Agreement, dated as of June 29, 2020, by and between USA Technologies, Inc. and Eugene Cavanaugh.</div>
          </td>
        </tr>
        <tr>
          <td style="border-bottom: 2px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 11.71%; font-family: 'Times New Roman', Times, serif;">
            <div>99.1</div>
          </td>
          <td style="border-bottom: 2px solid #000000; border-top: 1px solid #000000; vertical-align: bottom; width: 2.14%; font-family: 'Times New Roman', Times, serif;">&#160;</td>
          <td style="border-bottom: 2px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 86.15%; font-family: 'Times New Roman', Times, serif;">
            <div style="text-align: justify;">Press release, dated July 6, 2020.</div>
          </td>
        </tr>

    </table>
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    </div>
    <div style="text-align: center; margin-right: 7.35pt; margin-left: 6.4pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNATURES</div>
    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman',Times,serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</div>
    <div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman',Times,serif;"> <br>
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            <td valign="top" colspan="2" style="width: 38%; font-family: 'Times New Roman',Times,serif; font-weight: bold;">USA TECHNOLOGIES, INC.</td>
            <td valign="top" style="width: 12%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          </tr>
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            <td valign="top" style="width: 3%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 35%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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              </div>
            </td>
            <td valign="top" style="width: 3%; padding-bottom: 2px; font-family: 'Times New Roman',Times,serif;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 35%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">/s/&#160; Sean Feeney<br>
            </td>
            <td valign="top" style="width: 12%; padding-bottom: 2px; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" align="left" style="width: 35%; font-family: 'Times New Roman',Times,serif;">Sean Feeney</td>
            <td valign="top" style="width: 12%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 3%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 35%; font-family: 'Times New Roman',Times,serif;">Chief Executive Officer<br>
            </td>
            <td valign="top" style="width: 12%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 3%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 35%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
            <td valign="top" style="width: 12%; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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    <font style="font-family: 'Times New Roman',Times,serif;">Dated: July 6, 2020</font><br>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>us55120170-ex10_1.htm
<DESCRIPTION>INDEPENDENT CONTRACTOR AGREEMENT, DATED AS OF JUNE 29, 2020, BY AND BETWEEN USA TECHNOLOGIES, INC. AND EUGENE CAVANAUGH.
<TEXT>
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              <div>EXHIBIT 10.1 <br>
              </div>
              <div> <br>
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              <div style="font-family: Arial,Helvetica,'sans-serif';">June 30, 2020<font style="font-family: Arial,Helvetica,sans-serif;"><br>
                </font>Eugene Cavanaugh</div>
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            <td style="width: 33.33%; text-align: right; vertical-align: bottom; font-size: 12pt;"><img width="142" border="0" height="103" src="image00001.jpg"></td>
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    <div style="text-align: center;"><font style="font-size: 12pt; font-family: Arial,Helvetica,sans-serif;"><u>Independent Contractor Agreement</u></font><font style="font-size: 12pt;">: (<font style="font-family: Arial,Helvetica,sans-serif; font-style: italic;">Interim Chief Financial Officer</font>)</font></div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">This Independent Contractor Agreement (&#8220;Agreement&#8221;) is entered into this 29th day of June 2020, by and between USA Technologies, Inc. (&#8220;Company&#8221;) and Eugene Cavanaugh (&#8220;Contractor&#8221;)
      in consideration of the mutual promises made herein, as follows:</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Term of Agreement</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">This Agreement will become effective on the 1st day of July 2020 and will continue in effect until the earlier to occur of (i) the Company&#8217;s appointment of a permanent Chief Financial
      Officer, or (ii) either party&#8217;s termination of this Agreement upon 10 days&#8217; prior written notice to the other party.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Services to be Rendered by Contractor</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Contractor agrees to perform the duties of Interim Chief Financial Officer, including, without limitation, such additional projects and services as determined to be necessary by the
      Company.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Method of Performing Services</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Contractor will determine the method, details, and means of performing the above-described services, including the determination of the need for and hiring of additional resources or
      personnel at the discretion of the Company.&#160; The Company may control, direct, or otherwise supervise Contractor&#8217;s resources or personnel in the performance of those services.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Schedule</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Contractor will devote his full-time business hours to the services during the term of this Agreement.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Compensation</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">In consideration for the services to be performed by Contractor, Company agrees to pay Contractor $15,000 per month of service, payable monthly in arrears within 10 days following the
      last day of the applicable month of service and prorated for any partial month of service (the &#8220;Retainer&#8221;).&#160; In addition, Contractor will be eligible to receive a grant of 3,000 fully vested shares of common stock of the Company per month of service,
      to be granted within 10 days following the last day of each applicable month of service in accordance with the Company&#8217;s equity incentive plans and grant procedures and prorated for any partial month of service.&#160; Contractor acknowledges subject to
      the following policies of USA: Employee Manual, Code of Business Conduct and Ethics, as amended; Blackout Period and Notification Policy; and Stock Ownership Guidelines for Directors and Executive Officers as well as any other policies that may be
      adopted by USA from time to time.&#160; Upon termination of this Agreement, no further payments or benefits shall be paid or </div>
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          <div style="width: 100%; font-size: 12pt; text-align: center;" id="DSPFPageFooter">100 Deerfield Lane, Suite 300, Malvern, PA 19355&#160; <font style="font-weight: bold;">T</font> 800.633.0340/610.989.0340&#160; <font style="font-weight: bold;">F</font>
            610.989.0344&#160; www.usatech.com</div>
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          <div style="text-align: right; margin-top: 12pt; font-family: Arial,Helvetica,sans-serif; font-size: 12pt;"> <img width="142" border="0" height="103" src="image00001.jpg"></div>
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    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">provided by the Company to Contractor other than any such payments or benefits that are accrued and unpaid on the date of such termination pursuant to this paragraph.</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">The Company may, at its option, pay Contractor the Retainer by business check or electronic funds transfer (ACH), and Contractor agrees to complete the applicable forms to authorize
      such ACH payments if requested by the Company.&#160; Contractor will deliver to the Company (i) a completed Form W-9 as soon as reasonably practicable following execution of this Agreement, and (ii) an invoice for each month of service within 5 days
      following the last day of each applicable month of service in a format agreed to by Contractor and the Company. Company will also pay reasonable travel expenses incurred by Contractor.<br>
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    <div style="margin-top: 12pt; font-size: 12pt;"><u>Independent Contractor Relationship; Taxes</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">The parties hereto expressly intend that Contractor render the services described in this Agreement as an independent contractor, and not an employee, of the Company or any of its
      subsidiaries.&#160; Therefore, Contractor acknowledges and agrees that Contractor will not be eligible to participate in any employee benefit, compensation, or bonus plans or programs sponsored by the Company or any of its subsidiaries, and expressly
      waives any right to participate that may be deemed to exist.&#160; In addition, Contractor expressly acknowledges and agrees that Contractor is solely responsible for payment of any and all taxes payable in connection with the compensation and benefits to
      be paid or provided to Contractor under this Agreement, and that the Company shall not withhold any such taxes from such compensation and benefits unless the Company determines that it is required to do so by applicable law.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Tools and Instruments</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">At its discretion, the Company will supply all tools, equipment, and supplies required to perform the services under this Agreement.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Assignment</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Neither this Agreement nor any duties or obligations under this Agreement may be assigned by Company or Contractor without the prior written consent of Contractor and Company.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Confidentiality and Non-Disclosure</u>:</div>
    <div style="margin-top: 12pt; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: Arial,Helvetica,sans-serif;">Contractor will have access to, and may create and receive, confidential information of the Company, all of which has been/ will
        be developed at considerable risk and expense to the Company.&#160; Contractor acknowledges that confidential information is a valuable and unique asset of the Company, and includes, without limitation, all information of a confidential or proprietary
        nature that relates to the Company and its subsidiaries in any way, including information relating to the Company&#8217;s and its subsidiaries&#8217; business, customers, products and services, pricing, intellectual property, suppliers, and employees.&#160;
        Contractor agrees that Contractor: (i) shall keep confidential and not disclose or reveal any confidential information to any person or entity, and (ii) Contractor shall not use for Contractor&#8217;s own benefit or for the benefit of any third party,
        any of the Company&#8217;s confidential information, except for and on behalf of the Company in the course of performing Contractor&#8217;s services to and for the benefit of the Company, unless the Company consents in advance in writing to the disclosure or
        use of any of the confidential information.</font></div>
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          <div style="width: 100%; font-size: 12pt; text-align: center;" id="DSPFPageFooter">100 Deerfield Lane, Suite 300, Malvern, PA 19355&#160; <font style="font-weight: bold;">T</font> 800.633.0340/610.989.0340&#160; <font style="font-weight: bold;">F</font>
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              <div style="margin-left: 36pt; margin-top: 12pt; font-family: Arial,Helvetica,sans-serif;">(a)</div>
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              <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;"><u>Ownership of Confidential Information</u>: Contractor acknowledges and agrees that, as between Contractor and the Company, all confidential information is and at all
                times will be the exclusive property of the Company, to be used by Contractor only as expressly authorized by this Agreement, and that Contractor has no claim or right to the continued use or possession of such confidential information
                following termination of Contractor&#8217;s engagement by the Company.&#160; Contractor agrees that, and upon termination of Contractor&#8217;s engagement, Contractor will not retain any confidential information, including, without limitation, documents,
                files or other materials, and will promptly return to the Company any confidential information in Contractor&#8217;s possession or custody.</div>
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              <div style="margin-left: 36pt; margin-top: 12pt; font-family: Arial,Helvetica,sans-serif;">(b)</div>
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              <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;"><u>Return of Company Property</u>: At any time at the Company&#8217;s request during the term of this Agreement or upon termination of Contractor&#8217;s retention by the Company,
                whichever occurs first, Contractor promptly shall return to the Company all confidential information and other property of the Company in Contractor&#8217;s control or possession, in any media or format whatsoever, and Contractor shall, unless
                otherwise directed by the Company, delete or destroy all electronic data and/or other information of the Company stored in electronic form or media on Contractor&#8217;s laptop, computer, notebook, iPad, cell phone or other electronic equipment
                or storage.&#160; At the Company&#8217;s request, Contractor agrees to certify in writing to the Company that Contractor has complied with the requirements of this Agreement.</div>
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    <div style="margin-top: 12pt; font-size: 12pt;"><u>Notices</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Any notices to be given hereunder by either party to the other may be made either by personal delivery or by mail, registered or certified, postage prepaid with return receipt
      requested.&#160; Mailed notices shall be addressed to the parties at the following addresses:</div>
    <div style="text-align: justify; margin-top: 12pt;"><font style="font-size: 12pt;">Company:&#160; </font><font style="font-size: 12pt;"><u>USA Technologies 100 Deerfield Ln. Suite 300, Malvern PA 19335</u></font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="text-align: justify; margin-top: 12pt;"><font style="font-size: 12pt;">Contractor:</font><font style="font-size: 12pt;"> ________________________________________________________________________________ &#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </font></div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">Each party may change the above address by written notice in accordance with this paragraph.&#160; Notices delivered personally shall be deemed communicated as of the date of actual
      receipt; mailed notices shall be deemed communicated as of three (3) days after the date of mailing.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Entire Agreement</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the performance of services by Contractor for Company,
      and contains all of the covenants and agreements between the parties with respect to the rendering of such services in any manner whatsoever.&#160; Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements,
      orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that no other agreement, statement, or promise not contained in this Agreement shall be valid or binding.&#160; Any modification
      of this Agreement will be effective only if it is in writing signed by the party to be charged.</div>
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          <div style="width: 100%; font-size: 12pt; text-align: center;" id="DSPFPageFooter">100 Deerfield Lane, Suite 300, Malvern, PA 19355&#160; <font style="font-weight: bold;">T</font> 800.633.0340/610.989.0340&#160; <font style="font-weight: bold;">F</font>
            610.989.0344&#160; www.usatech.com</div>
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          <div style="text-align: right; margin-top: 12pt; font-family: Arial,Helvetica,sans-serif; font-size: 12pt;"> <img width="142" border="0" height="103" src="image00001.jpg"></div>
          <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">&#160;</div>
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    <div style="margin-top: 12pt; font-size: 12pt;"><u>Partial Invalidity</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full
      force without being impaired or invalidated in any way.</div>
    <div style="margin-top: 12pt; font-size: 12pt;"><u>Governing Law</u>:</div>
    <div style="text-align: justify; margin-top: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Pennsylvania.</div>
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          <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-indent: -66.6pt; margin-left: 66.6pt;"><font style="font-size: 12pt;">Company, by</font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: Arial,Helvetica,sans-serif;"><br>
                </font></font></div>
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          <td style="width: 35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><font style="font-size: 12pt;">/s/ Alyssa Braniecki</font><font style="font-size: 12pt;"><br>
            </font></td>
          <td style="width: 10%; vertical-align: top; padding-bottom: 2px; font-size: 12pt;" colspan="1">&#160;</td>
          <td style="width: 10%; vertical-align: top; padding-bottom: 2px;">
            <div><font style="font-size: 12pt;">Date</font><font style="font-size: 12pt;"> <br>
              </font></div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;"><font style="font-family: Arial,Helvetica,sans-serif;">6/30/2020</font> <br>
          </td>
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          <td style="width: 35%; vertical-align: top; font-size: 12pt;"><font style="font-family: Arial,Helvetica,sans-serif;">Manager of Human Resources</font></td>
          <td style="width: 10%; vertical-align: top; font-size: 12pt;" colspan="1">&#160;</td>
          <td style="width: 10%; vertical-align: top; font-size: 12pt;" rowspan="1">&#160;</td>
          <td style="width: 30%; vertical-align: top; font-size: 12pt;" rowspan="1"><br>
          </td>
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            <div style="text-indent: -71.1pt; margin-left: 71.1pt;"><font style="font-size: 12pt;">Contractor, by</font><font style="font-size: 12pt;"><br>
              </font></div>
          </td>
          <td style="width: 35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;">/s/ Eugene Cavanaugh<br>
          </td>
          <td style="width: 10%; vertical-align: top; padding-bottom: 2px; font-size: 12pt;" colspan="1">&#160;</td>
          <td style="width: 10%; vertical-align: top; padding-bottom: 2px;">
            <div><font style="font-size: 12pt;">Date</font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 12pt;">6/30/2020</td>
        </tr>
        <tr>
          <td style="width: 15%; vertical-align: top; font-size: 12pt;" rowspan="1">&#160;</td>
          <td style="width: 35%; vertical-align: top; font-size: 12pt;" rowspan="1"><font style="font-family: Arial,Helvetica,sans-serif;">Interim Chief Financial Officer</font></td>
          <td style="width: 10%; vertical-align: top; font-size: 12pt;" rowspan="1" colspan="1">&#160;</td>
          <td style="width: 10%; vertical-align: top; font-size: 12pt;" rowspan="1">&#160;</td>
          <td style="width: 30%; vertical-align: top; font-size: 12pt;" rowspan="1"><br>
          </td>
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        <div style="width: 100%; font-size: 12pt;" id="DSPFPageFooter">100 Deerfield Lane, Suite 300, Malvern, PA 19355&#160; <font style="font-weight: bold;">T</font> 800.633.0340/610.989.0340&#160; <font style="font-weight: bold;">F</font> 610.989.0344&#160;
          www.usatech.com</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>us55120170-ex99_1.htm
<DESCRIPTION>PRESS RELEASE, DATED JULY 6, 2020.
<TEXT>
<html>
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    <title></title>
    <!-- Licensed to: Cadwalader, Wickersham & Taft LLP
         Document created using EDGARfilings PROfile 7.0.1.0
         Copyright 1995 - 2020 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right; color: rgb(64, 64, 64); font-family: Arial,Helvetica,sans-serif; font-size: 12pt; font-weight: bold;"> <font style="font-weight: normal;">EXHIBIT 99.1</font><br>
  </div>
  <div style="text-align: center; color: #404040; font-size: 12pt; font-weight: bold;"> <br>
  </div>
  <div style="text-align: center; color: #404040; font-size: 12pt; font-weight: bold;">USA Technologies Adds Depth to Management Team with New General Counsel Position</div>
  <div style="text-align: center; color: #404040; font-size: 12pt; font-weight: bold;">and Interim CFO</div>
  <div><br>
  </div>
  <div style="text-align: center; color: #404040; font-size: 12pt; font-style: italic;">Davina Furnish joins as General Counsel; Eugene C. Cavanaugh to operate as Interim CFO</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="font-weight: bold; color: #404040;">MALVERN, Pa. &#8211; July 6, 2020 &#8211;</font><font style="color: #404040;">&#160;</font><font style="color: rgb(0, 0, 0);">USA Technologies, Inc</font><font style="color: #000000;">. </font><font style="color: #404040;">(OTC:USAT) (&#8220;USAT&#8221; or the &#8220;Company&#8221;), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today announced that Davina Furnish has been named
      General Counsel and Eugene C. Cavanaugh has been hired as interim Chief Financial Officer.</font></div>
  <div><br>
  </div>
  <div style="text-align: justify; color: #404040;"><font style="background-color: #FEFEFE; font-style: italic;">&#8220;</font><font style="background-color: #FEFEFE;">The addition of Davina and Gene to USA Technologies&#8217; executive team is a key part of our
      strategy to build a strong foundation for future growth,&#8221; said Sean Feeney, CEO, USA Technologies. &#8220;Davina&#8217;s expertise and insight are a much-needed asset to the Company as we venture through our corporate transformation. I have previous experience
      working with her, and I know her to be </font><font style="background-color: #FFFFFF;">a results-oriented business leader with an ability to solve complex business challenges, and a strong track record of successfully navigating through the legal
      complexities of a technology company. In addition, I am confident that Gene&#8217;s deep financial acumen, and public company experience, will serve us well during this interim period. He has impressive credentials and I believe he will add to our momentum
      moving forward.&#8221;</font></div>
  <div><br>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; color: #404040;">Davina Furnish joins the company as its General Counsel, effective July 6, 2020. In her role she will oversee and direct all of USAT&#8217;s legal affairs, supporting the company&#8217;s growth initiatives. She
      will be based in Atlanta, Ga.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #404040;">Ms. Furnish brings over 20 years of technology law experience in a variety of roles at small- and medium-sized public companies in the Atlanta area. She was General Counsel of Concurrent Computer
      Corporation from 2013 to 2017, having worked in a number of legal leadership roles at Concurrent from 2007 to 2017. Most recently, she has been advising on technology transactions at E*TRADE Corporate Services and SunTrust (now Truist). She began her
      career with CheckFree Corporation (now a part of Fiserv, Inc.), where she previously worked with USAT&#8217;s CEO, Sean Feeney. She also served as litigation counsel for Interland, Inc. (now called Web.com). Ms. Furnish earned her undergraduate degree in
      History from The Ohio State University and her J.D. from Cleveland-Marshall College of Law.</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="background-color: #FFFFFF; color: #404040;">Eugene Cavanaugh assumed the responsibility of interim CFO on July 1, 2020 while the Company conducts its search to fill the permanent position, vacated by the
      departure of former CFO, Michael Wasserfuhr. Mr. Cavanaugh will oversee the finance organization and lead all aspects of the Company&#8217;s financial strategy and operations, including </font><font style="background-color: #FEFEFE; color: #444444;">budgeting

      and planning, treasury, accounting, tax, and financial reporting</font><font style="background-color: #FFFFFF; color: #404040;">. He will be based at the Company&#8217;s headquarters in Malvern, Pa.</font></div>
  <div><br>
  </div>
  <div style="text-align: justify; color: #404040;"><font style="background-color: #FFFFFF;">Mr. Cavanaugh brings </font>over 30 years in corporate finance, treasury, as well as strategic planning, risk management and operations management experience,
    across multiple industries - from start-ups, to the Fortune 100. Most recently, Mr. Cavanaugh has worked as a private investor and consultant, providing CFO level financial management and process improvement for portfolio companies of Triple Tree
    Capital Partners in Minneapolis, and other independent companies. Previously, he was a member of the executive leadership team at UnitedHealth Group (UHG) and </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: justify; color: #404040;">was the CFO of its $3+ billion Uniprise business segment. There he led the completion of the $1.6 billion MetraHealth acquisition&#8217;s integration. As part of his role as CFO, Mr. Cavanaugh was also
    Treasurer of UnitedHealthcare Insurance Co. of Connecticut, the primary insurance carrier for UHG&#8217;s non-HMO products nationally, and responsible for legal entity reporting and compliance with Connecticut insurance regulations. Prior to joining
    UnitedHealth Group, Mr. Cavanaugh managed Arthur Andersen&#8217;s finance and accounting outsourcing practice, in Metro Philadelphia. He is a graduate of Villanova University.</div>
  <div><br>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; color: #404040; font-weight: bold;">About USA Technologies, Inc.</div>
    <div style="text-align: justify; color: #404040;">USA Technologies, Inc. is a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market. USAT is transforming the unattended retail
      community by offering one integrated solution for payments processing, logistics, and back-office management. The Company&#8217;s enterprise-wide platform is designed to increase consumer engagement and sales revenue through digital payments, digital
      advertising and customer loyalty programs, while providing retailers with control and visibility over their operations and inventory. As a result, customers ranging from vending machine companies, to operators of micro-markets, gas and car charging
      stations, laundromats, metered parking terminals, kiosks, amusements and more, can run their businesses more proactively, predictably, and competitively.</div>
  </div>
  <div><br>
  </div>
  <div style="font-size: 12pt;">--F-USAT</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="color: #404040; font-weight: bold;"><font style="background-color: #FFFFFF;">Media and Investor Relations Contact:</font></div>
  <div style="color: #404040;"><font style="background-color: #FFFFFF;">Alicia V. Nieva-Woodgate</font></div>
  <div style="color: #404040;"><font style="background-color: #FFFFFF;">USA Technologies</font></div>
  <div style="color: #404040;"><font style="background-color: #FFFFFF;">+1 720.808.0086</font></div>
  <div style="color: rgb(0, 0, 0);"><font style="background-color: #FFFFFF;">anievawoodgate@usatech.com</font></div>
  <div><br>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
