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eMoney News

US eMoney solutions provider reports growth
16 Jul 2010

A US eMoney solutions provider has reported significant growth as more US firms adopt cashless payment methods.

USA Technologies processed 73 per cent more cashless transactions in the fourth financial quarter of 2010 compared to the same period last year.

The dollar value of these transactions increased by 54 per cent to $20,805,000 (£13,775,000) compared to $13,501,000 (£8,939,537).

The increased sales are largely attributed to the growing number of US firms who are signing up to the technology.

Approximately 1,050 companies had signed up with USA Technologies by the end of June, while the business had just 525 customers in 2009.

George Jensen, chairman and chief executive officer of USA Technologies, was delighted with the firm's financial report.

He said: "We remain highly focused on driving demand for cashless payment solutions and delivering unmatched services to our customers."