SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 FORM 10-KSB/A2

                  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended SEPTEMBER 30, 1996

Commission file number 0-25148

                        GLOBAL PAYMENT TECHNOLOGIES, INC
                  (FORMERLY KNOWN AS COIN BILL VALIDATOR, INC.)
             ------------------------------------------------------
             (Exact Name of registrant as specified in its charter)

State of incorporation:  DELAWARE
I.R.S. Employer Identification No. 11-2974651

             20 EAST SUNRISE HIGHWAY, VALLEY STREAM, NEW YORK 11581
                                 (516) 256-1000

               (Current address of principal executive offices and
                      telephone number including area code)

                   425B OSER AVENUE, HAUPPAUGE, NEW YORK 11788
                                 (516) 231-1177
              (Previous address of principal executive offices and
                      telephone number including area code)

Securities registered under Section 12(b) of the Exchange Act: None

Securities  registered  under Section  12(g) of the Exchange Act:  Common Stock,
$.01 par value per share

            Check  whether the issuer (l) has filed all  reports  required to be
filed by Section 13 or 15(d) of the  Securities  Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports),  and (2) has been subject to such filing requirements for
the past
90 days.                Yes [X]                              No [_]

            Check if  disclosure of  delinquent  filers  pursuant to Item 405 of
Regulation S-K is not contained herein,  and will not be contained,  to the best
of  registrant's  knowledge,  in  definitive  proxy  or  information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.
                        [_]

            For the fiscal year ended  September  30,  1996 the  revenues of the
registrant were: $16.693 million.

            The  aggregate  market value of the Common  Stock of the  registrant
held by  nonaffiliates  of the  registrant,  based on the  average bid and asked
prices on December 17, 1996, was approximately $14,197,364.

            As of December 23,  1996,  the  registrant  had a total of 2,750,000
Common Shares outstanding.

            Transitional Small Business Disclosure Format (check one):

                    Yes [_]                              No [X]

                    DOCUMENTS INCORPORATED BY REFERENCE: NONE



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PURPOSE OF THIS AMENDMENT

            The purpose of this amendment  number 2 to the Company's Form 10-KSB
is to revise the aggregate  market value of the  Company's  Common Stock held by
nonaffiliates based on the average bid and asked prices on December 17, 1996.

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<PAGE>


                                   SIGNATURES


            Pursuant  to  the  requirements  of  Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934,  the Registrant has duly caused this Report to
be signed on its behalf by the undersigned, thereunto duly authorized.


                                             GLOBAL PAYMENT TECHNOLOGIES, INC.
                                             (Registrant)


December 5, 1997                             By: /S/ EDWARD SEIDENBERG
                                                ----------------------
                                             Edward Seidenberg
                                             Vice President



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