SANTA MONICA, CA — U-Vend, Inc. (OTCPK: UVND), a consumer products and technology company, announced Monday that they have signed a Master Distributor Agreement with FastCorp Vending to become FastCorp’s exclusive vending distributor in Canada. FastCorp, based in Chester, Connecticut is the world’s leader in frozen vending machine sales and robotic vending technology.
“Partnering with FastCorp as their exclusive Canadian vending distributor will allow us to streamline the growth of our strategic brand and product placements throughout Canada. Working with a consistent line of durable, high-technology machines will also allow for more efficient installation and management of not only our kiosks, but also of our clients country-wide,” said Paul Neelin U-Vend, Inc. founder and Chief Operating Officer.
“We have tried and tested many styles of automated self-serve kiosks and have selected FastCorp for their high-quality design, their best-in-class technology and their ability to adapt for multiple brands or convert the same kiosk into a secondary brand with ease. FastCorp has also added new features such as a digital front interface that sets both U-Vend and our customers apart from other offerings,” stated Raymond Meyers, U-Vend Inc.’s Chief Executive Officer.
Under the agreement, U-Vend will utilize FastCorp’s self-serve kiosks for all of their corporate location requirements and will also be representing and marketing FastCorp machines to independent kiosk owner/operators at industry tradeshows throughout Canada.
“To have U-Vend represent us within the Canadian market provides us with a tremendous expansion opportunity,” stated Brian Weinstein, President of FastCorp LLC. “The executives at U-Vend have demonstrated the ability to market, promote, install, and service our automated kiosks nationwide. We look forward to working with the U-Vend team in a long-term partnership,” added Weinstein.
The evolution in retail shopping habits and consumer expectations have opened up a tremendous opportunity for innovative self-serve kiosks and robotic delivery of perishable and non-perishable consumer goods. In a 2013 study by the IHL Group, a global research and advisory firm specializing in technologies for the retail and hospitality industries, transactions at self-service kiosks are growing better than 7 percent per year in North America with transactions through these devices expected to grow past $1.0 trillion this year.