[IMGCAP(1)]

USA Technologies Inc. this week reported a 108% increase in revenue for the fiscal fourth quarter, which ended June 30, to $5 million compared with $2.4 million for the same quarter a year ago. The company's earnings report did not disclose expenses. The Malvern, Pa.-based company enables wireless non-cash transactions on vending machines. USA Technologies processed 3.9 million transactions worth $10.4 million in the fourth quarter, a 160% increase in transactions from the 1.5 million transactions worth $6.7 million in the same quarter last year. The company in the spring announced that orders for its G7 ePort terminals, which accept magnetic stripe and contactless cards, exceeded 10,000. The terminal operates with MasterCard Worldwide's PayPass, American Express Co.'s ExpressPay, Visa Inc.'s PayWave, JPMorgan Chase & Co.'s Blink, and Discover Financial Services Inc.'s Zip contactless cards.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry