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WirelessDevNet.com Press Release
U.S. Wireless Data Enters into Exclusive Agreement with PepsiCo
NEW YORK--Oct. 16, 2003--U.S. Wireless Data, Inc. (USWD) (OTC: USWE), today announced that it has entered into a multi-year exclusive supply agreement with PepsiCo, Inc. (PepsiCo) (NYSE: PEP) for cashless payment and wireless route management systems and service for use on the vending machines of Pepsi's bottlers, licensees and affiliates. Pending the completion of successful commercial testing, the Pepsi-Cola North America division of PepsiCo has committed to purchase a minimum of 10,000 Synapse Enablers for Vending (SEVs). The SEVs are USWD's proprietary hardware technology for cashless vending and wireless remote route management that interfaces with the USWD's Synapse host. It is anticipated that commercial testing shall be completed no later than December 31, 2003.
"This commitment from Pepsi marks a dramatic milestone for U.S. Wireless Data," said USWD Chairman and Chief Executive Officer Dean M. Leavitt. "Our partnership with PepsiCo represents the ultimate validation of our products and services."
About U.S. Wireless Data
U.S. Wireless Data provides wireless transaction delivery and gateway services to the payments processing industry. Our customers include credit card processors, merchant acquirers, banks, automatic teller machine ("ATM") distributors and their respective sales organizations, as well as certain businesses seeking new solutions to make it easier for their customers to buy their products or services. We offer these entities turnkey wireless and other transaction management services. We also provide those entities with proprietary wireless enabling products designed to allow card acceptance where such acceptance has heretofore been too expensive or technologically unfeasible or to displace conventional telephone lines for increased speed, cost reduction or convenience. These services and products may be utilized by conventional card accepting retailers as well as emerging card accepting market segments such as vending machines, quickservice (fast-food) and quick casual restaurants, taxis and limousines, in-home service providers, door-to-door sales, contractors, delivery services, sporting events, and outdoor markets. Our services and products may also be used for gathering telemetric information such as mission critical operational data on a real-time basis from remote equipment (e.g.,vending machines). Further information is available at www.uswirelessdata.com.
Statements about the Company's future expectations, plans, objectives and expected performance and all other statements in this document, the Company's periodic filings with the Securities and Exchange Commission (or documents incorporated by reference therein) and in written and oral presentations made by us, including projections or other forward-looking statements other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Such projections and forward-looking statements are based on assumptions, which we believe are reasonable but are, by their nature, inherently uncertain. In all cases, results could differ materially from those projected. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The Company is not responsible for events not updated after the date on this press release. Our forward looking statements are based on information available to us today, and except as required by law, we undertake no obligation to update any forward looking statement, whether as a result of new information, future events or otherwise.
As discussed, USWD's actual results may differ materially from its historical results of operations and those discussed in the forward-looking statements for various reasons, including, but not limited to the Company's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development of technology, sales, marketing and support, the risk that products may not result from development activities, ability to reduce operating expenses in a meaningful manner, protection of its intellectual property, dependence on partners for development of certain projects, and other factors discussed. Readers are advised to review these reports (which are available from the United States Securities and Exchange Commission's EDGAR database at http://www.sec.gov and at various other reference facilities in the United States).
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