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Over 100,000 US devices connected to e-money networks
7 Jan 2011

More than 100,000 electronic devices are connected to an e-money network in the US, it has been revealed.

USA Technologies, a provider of wireless non-cash transactions, has published its latest quarterly report forecasts which show that a total of 109,000 devices are now connected to its network, an increase of 73 per cent compared to last year.

The firm also processed 95 per cent more cashless transactions during the period compared to last year's fiscal second quarter.

George Jensen, chairman and chief executive of USA Technologies, expressed his delight at the impressive figures.

He said: "As the acceptance of wireless cashless transactions moves mainstream, our plan is to capitalise on our market leadership by increasing penetration in our target markets, applying our solutions to new markets and introducing new and relevant applications.

"In addition, we believe that we are poised for additional growth as cell phones evolve into a new cashless payment mechanism."