Exhibit 4.1(b)

                AMENDMENT NO. 1 TO COMMON STOCK PURCHASE WARRANT
                                       OF
                        GLOBAL PAYMENT TECHNOLOGIES, INC.

                                 April 29, 2004

         Reference is hereby made to that certain warrant of Global Payment
Technologies, Inc., a corporation organized under the laws of the State of
Delaware (the "Company"), dated March 15, 2004 and issued to Laurus Master Fund,
Ltd. (the "Holder"), to purchase up to 200,000 fully paid and nonassessable
shares of common stock, $.01 par value per share of the Company (the "Warrant").
Capitalized terms used but not defined herein shall have the meanings given them
in the Warrant.

         WHEREAS, the Company and Holder desire to make certain changes to the
Warrant to address the comments made by the National Association of Securities
Dealer Automated Quotation System market where the common stock of the Company
is listed for trading.

         NOW, THEREFORE, in consideration of the above, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:.


     1.   Section 10 of the Warrant is hereby deleted in its entirety and
          replaced with the following:

              "10. Maximum Exercise. Notwithstanding anything contained herein
     to the contrary, the Holder shall not be entitled to convert pursuant to
     the terms of the Note an amount that would (a) be convertible into that
     number of shares of Common Stock which, when added to the number of shares
     of Common Stock otherwise beneficially owned by such Holder including those
     issuable upon exercise of warrants of the Company held by such Holder would
     exceed 4.99% of the outstanding shares of Common Stock of the Company at
     the time of conversion or (b) (ii) exceed twenty five percent (25%) of the
     aggregate dollar trading volume of the Common Stock for the ten (10) day
     trading period immediately preceding delivery of a Notice of Conversion to
     the Company. For the purposes of the immediately preceding sentence,
     beneficial ownership shall be determined in accordance with Section 13(d)
     of the Exchange Act and Regulation 13d-3 thereunder. The conversion
     limitation described in this Section 10 shall automatically become null and
     void without any notice to Company upon the occurrence and during the
     continuance beyond any applicable grace period of an Event of Default, or
     upon 75 days prior notice to the Company, except that at no time shall the
     beneficial ownership exceed 19.99% of the borrower's common stock.
     Notwithstanding anything contained herein to the contrary, the number of
     shares of Common Stock issuable by the Company and acquirable by the Holder
     at a price below $4.06 per share pursuant to the terms of the Secured
     Convertible Term Note and/or this Warrants issued by the Company to the
     Holder pursuant to this Securities Purchase Agreement (the "March
     Transaction Documents"), shall not exceed an aggregate of 1,110,000 shares
     of the Company's Common Stock, (subject to appropriate adjustment for stock
     splits, stock dividends, or other similar recapitalizations affecting the
     Common Stock) (the "Maximum Common Stock Issuance"), unless the issuance of
     shares hereunder in excess of the Maximum Common Stock Issuance shall first
     be approved by the Company's shareholders. If at any point in time and from
     time to time the number of shares of Common Stock issued pursuant to the
     terms of the March Transaction Documents, together with the number of
     shares of Common Stock that would then be issuable by the Company to the
     Holder in the event of a conversion or exercise pursuant to the terms of
     the March Transaction Documents, would exceed the Maximum Common Stock
     Issuance but for this Section, the Company shall promptly call a
     shareholders meeting to solicit shareholder approval for the issuance of
     the shares of Common Stock hereunder in excess of the Maximum Common Stock
     Issuance."


     2.   Section 14 of the Warrant is hereby deleted in its entirety and
          replaced by the following:

              "Section 14. Intentionally Deleted."

     3.   The foregoing amendments shall be effective as of the date hereof.

     4.   There are no other amendments to the Warrant.

     5.   The Company hereby represents and warrants to Holder that as of the
          date hereof all representations, warranties and covenants made by
          Company in connection with the Warrant are true correct and complete
          and all of Company's covenant requirements have been met. As of the
          date hereof, no Event of Default under any Related Agreement (as
          defined in the Securities Purchase Agreement) or Ancillary Agreements
          (as defined in the Security Agreement) has occurred or is continuing.

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                                                                  Exhibit 4.1(b)

         IN WITNESS WHEREOF, each of the Company and Holder has caused this
Amendment No. 1 to Warrant to be signed in its name this 29th day of April,
2004.


                                             GLOBAL PAYMENT TECHNOLOGIES, INC.



                                             By:________________________________
                                                  Name:
                                                  Title:



                                             LAURUS MASTER FUND, LTD.


                                             By:______________________________
                                             Name:
                                             Title: