Document:

<PAGE>
EXHIBIT 4.18

THESE WARRANTS AND THE COMMON STOCK ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAW. THESE WARRANTS AND THE COMMON STOCK ISSUABLE UPON THE EXERCISE
HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE
OF A REGISTRATION STATEMENT IN EFFECT UNDER SUCH ACT AND SUCH LAWS WITH RESPECT
TO THESE WARRANTS AND THE COMMON STOCK ISSUABLE UPON THE EXERCISE HEREOF, OR AN
OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED.

WARRANT CERTIFICATE        7,142,858 COMMON STOCK WARRANTS
NO. 189

                             USA TECHNOLOGIES, INC.

                              COMMON STOCK WARRANTS

                  (These Warrants will be void if not exercised
                    by the Termination Date specified below.)

                  1. Warrants.
                     --------

          Subject to the terms and conditions  hereof,  this certifies that KAZI
     MANAGEMENT VI, INC. is the owner of 7,142,858  Warrants (the "Warrants") of
     USA Technologies,  Inc., a Pennsylvania  corporation (the "Company").  Each
     Warrant entitles the holder hereof to purchase from the Company at any time
     prior to 5:00 p.m. on October 26, 2007 (the "Termination  Date"), one fully
     paid and  non-assessable  share of the Company's Common Stock,  without par
     value (the "Common Stock"),  subject to adjustment as provided in Section 7
     hereof.

                  2. Warrant Price.
                     -------------

          The Warrants  shall be exercised by delivery to the Company  (prior to
     the  Termination  Date) of the Warrant price for each share of Common Stock
     being purchased hereunder (the "Warrant Price"), this Certificate,  and the
     completed  Election To Purchase Form which is attached hereto.  The Warrant
     Price shall be $.07 per share of Common  Stock.  The Warrant Price shall be
     subject to adjustment as provided in Section 7 hereof. The Warrant Price is
     payable  either in cash or by certified  check or bank draft payable to the
     order of the Company.

                  3. Exercise.
                     --------

          Upon the  surrender  of this  Certificate  and  payment of the Warrant
     Price as aforesaid,  the Company shall issue and cause to be delivered with
     all  reasonable  dispatch  to or upon the written  order of the  registered
     holder of this Warrant and in such name or names as the  registered  holder
     may designate,  a certificate or certificates for the number of full shares
     of  Common  Stock so  purchased  upon the  exercise  of any  Warrant.  Such
     certificate  or  certificates  shall be deemed to have been  issued and any
     person so  designated  to be named therein shall be deemed to have become a
     holder of record of such Common Stock on and as of the date of the delivery
     to the Company of this  Certificate  and  payment of the  Warrant  Price as
     aforesaid.  If, however,  at the date of surrender of this  Certificate and
     payment of such  Warrant  Price,  the  transfer  books for the Common Stock
     purchasable  upon  the  exercise  of  any  Warrant  shall  be  closed,  the
     certificates  for the Common Stock in respect to which any such Warrant are
     then  exercised  shall be issued and the owner of such  Common  Stock shall
     become a record  owner of such  Common  Stock on and as of the next date on
     which such books shall be opened,  and until such date the Company shall be
     under no duty to deliver any certificate for such Common Stock.

                  4. Partial Exercise.
                     ----------------

          The  rights  of  purchase   represented   by  the  Warrants  shall  be
     exercisable,  at the election of the registered holder hereof, either as an
     entirety,  or from time to time for any part of the Common Stock  specified
     herein and, in the event that the  Warrants are  exercised  with respect to
     less than all of the Common Stock specified herein at any time prior to the
     Termination  Date,  a new  Certificate  will be issued  to such  registered
     holder for the remaining number of Warrants not so exercised.

                  5. Termination Date.
                     ----------------

          All of the Warrants  must be exercised  in  accordance  with the terms
     hereof prior to the Termination Date. At and after the Termination Date any
     and all  unexercised  rights  hereunder  shall become null and void and all
     such unexercised Warrants shall without any action on behalf of the Company
     become null and void.

                  6. Lost, Mutilated Certificate.
                     ---------------------------

          In case this Common Stock Warrant  Certificate shall become mutilated,
     lost,  stolen  or  destroyed,  the  Company  shall  issue in  exchange  and
     substitution for and upon cancellation of the mutilated certificate,  or in
     lieu of and in substitution for the Certificate lost, stolen, or destroyed,
     a new  Certificate of like tenor and  representing  an equivalent  right or
     interest,  but only upon receipt of evidence satisfactory to the Company of
     such loss,  theft or destruction  of such  certificate  and  indemnity,  if
     requested, also satisfactory to the Company.

                  7.  Adjustments.
                      -----------

          Subject and pursuant to the  provisions of this Section 7, the Warrant
     Price and number of shares of Common Stock subject to the Warrants shall be
     subject to adjustment from time to time only as set forth hereinafter:

          a. In case the Company  shall  declare a Common Stock  dividend on the
     Common Stock, then the Warrant Price shall be proportionately  decreased as
     of the  close  of  business  on the date of  record  of said  Common  Stock
     dividend in  proportion to such  increase of  outstanding  shares of Common
     Stock.

          b. If the Company shall at any time subdivide its  outstanding  Common
     Stock  by  recapitalization,  reclassification  or  split-up  thereof,  the
     Warrant   Price   immediately   prior   to  such   subdivision   shall   be
     proportionately  decreased,  and, if the Company  shall at any time combine
     the   outstanding    shares   of   Common   Stock   by    recapitalization,
     reclassification,  or combination  thereof,  the Warrant Price  immediately
     prior to such  combination  shall be  proportionately  increased.  Any such
     adjustment  to the Warrant  Price shall  become  effective  at the close of
     business  on the  record  date for such  subdivision  or  combination.  The
     Warrant Price shall be proportionately  increased or decreased, as the case
     may be, in proportion to such increase or decrease,  as the case may be, of
     outstanding shares of Common Stock.

          c. Upon any adjustment of the Warrant Price as  hereinabove  provided,
     the number of shares of Common Stock issuable upon exercise of the Warrants
     remaining  unexercised  immediately prior to any such adjustment,  shall be
     changed to the number of shares  determined by dividing (i) the appropriate
     Warrant  Price  payable  for the  purchase  of all  shares of Common  Stock
     issuable  upon  exercise  of  all  of the  Warrants  remaining  unexercised
     immediately prior to such adjustment by (ii) the Warrant Price per share of
     Common Stock in effect immediately after such adjustment.  Pursuant to this
     formula,  the total sum  payable to the  Company  upon the  exercise of the
     Warrants remaining  unexercised  immediately prior to such adjustment shall
     remain constant.

          d.  (i) If  any  capital  reorganization  or  reclassification  of the
     capital  stock of the Company,  or  consolidation  or merger of the Company
     with  another  corporation,  person,  or  entity,  or  the  sale  of all or
     substantially all of its assets to another corporation,  person, or entity,
     shall be  effected  in such a way that  holders  of Common  Stock  shall be
     entitled  to receive  stock,  securities,  cash,  property,  or assets with
     respect to or in exchange  for Common  Stock,  and  provided no election is
     made  by the  Company  pursuant  to  subsection  (ii)  hereof,  then,  as a
     condition of such reorganization,  reclassification,  consolidation, merger
     or sale, the Company or such successor or purchasing  corporation,  person,
     or entity,  as the case may be, shall agree that the  registered  holder of
     the Warrants shall have the right thereafter and until the Termination Date
     to exercise  such  Warrants  for the kind and amount of stock,  securities,
     cash,   property,   or  assets   receivable   upon   such   reorganization,
     reclassification,  consolidation, merger, or sale by a holder of the number
     of shares of Common  Stock for the  purchase of which such  Warrants  might
     have   been   exercised   immediately   prior   to   such   reorganization,
     reclassification, consolidation, merger or sale, subject to such subsequent
     adjustments  which  shall be  equivalent  or  nearly  equivalent  as may be
     practicable to the adjustments provided for in this Section 7.

          e.  Whenever  the Warrant  Price and number of shares of Common  Stock
     subject to this Warrant is adjusted as herein  provided,  the Company shall
     promptly mail to the registered  holder of this Warrant a statement  signed
     by an officer of the Company  setting forth the adjusted  Warrant Price and
     the number of shares of Common Stock subject to this Warrant, determined as
     so provided.

          f.  This  form of  Certificate  need  not be  changed  because  of any
     adjustment  which is required  pursuant  to this  Section 7.  However,  the
     Company may at any time in its sole discretion  (which shall be conclusive)
     make any change in the form of this  Certificate  that the Company may deem
     appropriate  and  that  does  not  affect  the  substance  hereof;  and any
     Certificate thereafter issued, whether in exchange or substitution for this
     Certificate or otherwise, may be in the form as so changed.

                  8. Reservation.
                     -----------

          There has been  reserved,  and the  Company  shall at all  times  keep
     reserved out of the  authorized  and  unissued  shares of Common  Stock,  a
     number of shares of Common Stock  sufficient to provide for the exercise of
     the right of purchase represented by the Warrants.  The Company agrees that
     all shares of Common Stock issued upon  exercise of the Warrants  shall be,
     at the time of delivery of the Certificates for such Common Stock,  validly
     issued and outstanding, fully paid and non-assessable.

                  9.  Fractional  Shares.
                      ------------------

          The  Company  shall not issue any  fractional  shares of Common  Stock
     pursuant to any exercise of any Warrant and shall pay cash to the holder of
     any Warrant in lieu of any such fractional shares.

                  10. No Right.
                      --------

          The holder of any Warrants  shall not be entitled to any of the rights
     of a shareholder of the Company prior to the date of issuance of the Common
     Stock by the Company pursuant to an exercise of any Warrant.

                  11. Securities Laws.
                      ----------------
          As a condition  to the  issuance of any Common  Stock  pursuant to the
     Warrants,  the holder of such Common  Stock shall  execute and deliver such
     representations,  warranties,  and  covenants,  that  may  be  required  by
     applicable federal and state securities law, or that the Company determines
     is  reasonably  necessary  in  connection  with the issuance of such Common
     Stock. In addition,  the  certificates  representing the Common Stock shall
     contain  such   legends,   or   restrictive   legends,   or  stop  transfer
     instructions,   as  shall  be  required  by  applicable  Federal  or  state
     securities  laws, or as shall be reasonably  required by the Company or its
     transfer agent.

                  12.  Registration  Rights.
                       --------------------

          The shares of Common Stock  underlying this Warrant are subject to and
     covered by the  Registration  Rights  Agreement dated of even date herewith
     between the Company and KAZI.

                  13. Certain Exercise Limits.
                      -----------------------

          Notwithstanding  anything herein to the contrary, if and to the extent
     that, on any date (the  "Section 16  Determination  Date"),  the holding by
     KAZI of this  Warrant  would  result  in  KAZI's  becoming  subject  to the
     provisions  of Section  16(b) of the  Securities  Exchange Act of 1934,  as
     amended,  by virtue of being deemed the "beneficial owner" of more than ten
     percent  (10%)  of the  then  outstanding  shares  of  Common  Stock of the
     Company, then KAZI shall not have the right to exercise any portion of this
     Warrant as shall cause KAZI to be deemed the beneficial  owner of more than
     ten percent  (10%) of the then  outstanding  shares of Common  Stock of the
     Company  during the  period  ending  sixty  (60) days after the  Section 16
     Determination Date.

                  14.  Applicable  Law.
                       ---------------

          The  Warrants  and this  Certificate  shall be deemed to be a contract
     made  under  the  laws  of the  Commonwealth  of  Pennsylvania  and for all
     purposes shall be construed in accordance with the laws thereof  regardless
     of its choice of law rules.

          IN WITNESS WHEREOF, USA TECHNOLOGIES, INC., has executed and delivered
     this Warrant Certificate on the date written below.
                                            USA TECHNOLOGIES, INC.

                                   By:       /s/ George R. Jensen, Jr.,
                                          --------------------------------
                                          George R. Jensen, Jr.,
                                          Chief Executive Officer

                                   Attest:    /s/ Leland P. Maxwell
                                          ------------------------------
                                           Leland P. Maxwell, Secretary

Dated: October 26, 2002

<PAGE>

USA TECHNOLOGIES, INC.
200 Plant Avenue
Wayne, Pennsylvania  19087
Attn:  George R. Jensen, Jr.,
       Chief Executive Officer

                              ELECTION TO PURCHASE

          The  undersigned  hereby  irrevocably  elects to exercise the right of
     purchase  represented  by  the  attached  Warrant  Certificate  No.  of the
     Company.  The  undersigned  desires  to  purchase  shares of  Common  Stock
     provided for therein and tenders herewith full payment of the Warrant Price
     for the shares of Common Stock being purchased,  all in accordance with the
     Certificate.  The undersigned requests that a Certificate representing such
     shares of Common  Stock shall be issued to and  registered  in the name of,
     and delivered to, the  undersigned at the address set forth in the attached
     certificate.  If said number of shares of Common Stock shall not be all the
     shares  purchasable under the Certificate,  then a new Common Stock Warrant
     Certificate  for the  balance  remaining  of the  shares  of  Common  Stock
     purchasable shall be issued to and registered in the name of, and delivered
     to, the undersigned at the address set forth in the attached certificate.

Dated:              , 200           Signature:
       -------------     -                     --------------------------

<PAGE><PAGE>
EXHIBIT 4.19

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

          Registration   Rights   Agreement   dated   October   26,  2002  (this
     "Agreement")  by  and  between  USA  TECHNOLOGIES,   INC.,  a  Pennsylvania
     corporation,  with principal executive offices located at 200 Plant Avenue,
     Wayne, PA 19087 (the "Company"), and KAZI MANAGEMENT VI, INC, a U.S. Virgin
     Islands corporation (the "Investor").

          WHEREAS,  upon the terms and  subject to the  conditions  of the Stock
     Purchase  Agreement dated of even date herewith by and between the Investor
     and the Company (the "Stock Purchase Agreement"), the Company has agreed to
     issue and sell to the Investor  3,571,429  shares of the  Company's  Common
     Stock (the "Common Stock"),  warrants to purchase up to 7,142,858 shares of
     Common Stock (the  "Warrants"),  and warrants to purchase up to  14,857,714
     additional shares of Common Stock (the "Additional Warrants") ; and

          WHEREAS,  to induce the  Investor  to execute  and  deliver  the Stock
     Purchase  Agreement,  the Company has agreed to provide with respect to the
     Common  Stock as well as the Common  Stock  issuable  upon  exercise of the
     Warrants certain registration rights under the Securities Act;

          NOW,  THEREFORE,  in  consideration  of the  premises  and the  mutual
     covenants  contained  herein,  the parties hereto,  intending to be legally
     bound, hereby agree as follows:

          1. Definitions

          (A) As used in this  Agreement,  the  following  terms  shall have the
     meanings:

          (1)  "Affiliate"  of any  specified  Person means any other Person who
     directly,  or indirectly through one or more intermediaries,  is in control
     of, is  controlled  by, or is under common  control  with,  such  specified
     Person.  For  purposes of this  definition,  control of a Person  means the
     power,  directly or  indirectly,  to direct or cause the  direction  of the
     management  and policies of such Person  whether by  contract,  securities,
     ownership or otherwise;  and the terms  "controlling" and "controlled" have
     the respective meanings correlative to the foregoing.

          (2) "Closing Date" means October 26, 2002.

          (3) "Commission" means the Securities and Exchange Commission.

          (4)  "Exchange  Act" means the  Securities  Exchange  Act of 1934,  as
     amended, and the rules and regulations of the Commission thereunder, or any
     similar successor statute.

          (5)  "Investor"  means  each of the  Investor  and any  transferee  or
     assignee of Registrable  Securities  which agrees to become bound by all of
     the terms and  provisions of this  Agreement in  accordance  with Section 8
     hereof.

          (6) "Person" means any individual,  partnership,  corporation, limited
     liability company, joint stock company, association,  trust, unincorporated
     organization, or a government or agency or political subdivision thereof.

          (7) "Prospectus" means the prospectus (including,  without limitation,
     any preliminary  prospectus and any final prospectus filed pursuant to Rule
     424(b) under the Securities  Act,  including any prospectus  that discloses
     information  previously  omitted  from a  prospectus  filed  as  part of an
     effective  registration  statement  in  reliance  on Rule  430A  under  the
     Securities  Act)  included  in the  Registration  Statement,  as amended or
     supplemented by any prospectus  supplement with respect to the terms of the
     offering  of any  portion  of the  Registrable  Securities  covered  by the
     Registration  Statement and by all other amendments and supplements to such
     prospectus,  including  all  material  incorporated  by  reference  in such
     prospectus and all documents filed after the date of such prospectus by the
     Company under the Exchange Act and incorporated by reference therein.

          (8) "Public  Offering"  means an offer  registered with the Commission
     and the  appropriate  state  securities  commissions  by the Company of its
     Common Stock and made pursuant to the Securities Act.

          (9) "Registrable  Securities"  means: (i) the Shares;  (ii) the Common
     Stock  issued or issuable  upon  exercise of the  Warrants  and  Additional
     Warrants; or (iii) any additional Shares or the Common Stock underlying any
     additional  Warrants  issued  pursuant  to Section 6 of the Stock  Purchase
     Agreement;  provided,  however, a share of Common Stock shall cease to be a
     Registrable  Security for purposes of this Agreement when it no longer is a
     Restricted Security.

          (10)  "Registration  Statement" means a registration  statement of the
     Company filed on an appropriate form under the Securities Act providing for
     the  registration  of, and the sale on a continuous or delayed basis by the
     holders of, all of the  Registrable  Securities  pursuant to Rule 415 under
     the Securities Act, including the Prospectus  contained therein and forming
     a  part  thereof,  any  amendments  to  such  registration   statement  and
     supplements  to such  Prospectus,  and all  exhibits to and other  material
     incorporated by reference in such registration statement and Prospectus.

          (11)  "Restricted  Security"  means the Shares and any share of Common
     Stock  issued upon  exercise of the  Warrants  or the  Additional  Warrants
     except any such share that (i) has been registered pursuant to an effective
     registration  statement  under  the  Securities  Act and  sold in a  manner
     contemplated  by the prospectus  included in such  registration  statement,
     (ii) has been transferred in compliance with the resale  provisions of Rule
     144 under the  Securities  Act (or any successor  provision  thereto) or is
     transferable pursuant to paragraph (k) of Rule 144 under the Securities Act
     (or  any  successor   provision   thereto)  or  (iii)  otherwise  has  been
     transferred  and a new  share of  Common  Stock  not  subject  to  transfer
     restrictions under the Securities Act has been delivered by or on behalf of
     the Company.

          (12)  "Securities  Act" means the  Securities Act of 1933, as amended,
     and the rules and regulations of the Commission thereunder,  or any similar
     successor statute.

          (B) All capitalized terms used and not defined herein have the
respective meaning assigned to them in the Securities Purchase Agreement or the
Debenture.

          2. Registration

                   (A) Filing and Effectiveness of Registration Statement. The
Company shall prepare and file with the Commission within 30 days following the
Closing Date a Registration Statement relating to the offer and sale of the
Registrable Securities and shall use its best efforts to cause the Commission to
declare such Registration Statement effective under the Securities Act as
promptly as practicable but in no event later than ninety (90) days after the
Closing Date. The Company shall promptly (and, in any event, no more than 24
hours after it receives comments from the Commission), notify the Investor when
and if it receives any comments from the Commission on the Registration
Statement and promptly forward a copy of such comments, if they are in writing,
to the Investor. At such time after the filing of the Registration Statement
pursuant to this Section 2(A) as the Commission indicates, either orally or in
writing, that it has no further comments with respect to such Registration
Statement or that it is willing to entertain appropriate requests for
acceleration of effectiveness of such Registration Statement, the Company shall
promptly, and in no event later than two (2) business days after receipt of such
indication from the Commission, request that the effectiveness of such
Registration Statement be accelerated within forty-eight (48) hours of the
Commission's receipt of such request. The Company shall notify the Investor by
written notice that such Registration Statement has been declared effective by
the Commission within 24 hours of such declaration by the Commission.

                   (B) Eligibility for Use of Form S-3 or an SB-2. The Company
agrees that at such time as it meets all the requirements for the use of
Securities Act Registration Statement on Form S-3 or SB-2, it shall file all
reports and information required to be filed by it with the Commission in a
timely manner and take all such other action so as to maintain such eligibility
for the use of such form.

                   (C) (i) If the Company proposes to register any of its
warrants, Common Stock or any other shares of common stock of the Company under
the Securities Act (other than a registration (A) on Form S-8 or S-4 or any
successor or similar forms, (B) relating to Common Stock or any other shares of
common stock of the Company issuable upon exercise of employee share options or
in connection with any employee benefit or similar plan of the Company or (C) in
connection with a direct or indirect acquisition by the Company of another
Person or any transaction with respect to which Rule 145 (or any successor
provision) under the Securities Act applies), whether or not for sale for its
own account, it will each such time, give prompt written notice at least 20 days
prior to the anticipated filing date of the registration statement relating to
such registration to the Investor, which notice shall set forth such Investor's
rights under this Section 2(C) and shall offer such Investor the opportunity to
include in such registration statement such number of Registrable Securities as
such Investor may request. Upon the written request of Investor made within 10
days after the receipt of notice from the Company (which request shall specify
the number of Registrable Securities intended to be disposed of by such
Investor), the Company will use its best efforts to effect the registration
under the Securities Act of all Registrable Securities that the Company has been
so requested to register by each Investor, to the extent requisite to permit the
disposition of the Registrable Securities so to be registered; provided,
however, that if, at any time after giving written notice of its intention to
register any Registrable Securities pursuant to this Section 2 and prior to the
effective date of the registration statement filed in connection with such
registration, the Company shall determine for any reason not to register such
Registrable Securities, the Company shall give written notice to each Investor
and, thereupon, shall be relieved of its obligation to register any Registrable
Securities in connection with such registration. The Company's obligations under
this Section 2(C) shall terminate on the date that the registration statement to
be filed in accordance with Section 2(A) is declared effective by the
Commission.

                   (ii) If a registration pursuant to this Section 2(C) involves
a Public Offering and the managing underwriter thereof advises the Company that,
in its view, the number of shares of Common Stock that the Company and the
Investor intend to include in such registration exceeds the largest number of
shares of Common Stock that can be sold without having an adverse effect on such
Public Offering (the "Maximum Offering Size"), the Company will include in such
registration only such number of shares of Common Stock as does not exceed the
Maximum Offering Size, and the number of shares in the Maximum Offering Size
shall be allocated among the Company, the Investor and any other sellers of
Common Stock in such Public Offering ("Third-Party Sellers"), first, pro rata
among the Investor until all the shares of Common Stock originally proposed to
be offered for sale by the Investor have been allocated, and second, pro rata
among the Company and any Third-Party Sellers, in each case on the basis of the
relative number of shares of Common Stock originally proposed to be offered for
sale under such registration by the Investor, the Company and the Third-Party
Sellers, as the case may be. If as a result of the proration provisions of this
Section 2(C)(ii), the Investor is not entitled to include all such Registrable
Securities in such registration, such Investor may elect to withdraw its request
to include any Registrable Securities in such registration. With respect to
registrations pursuant to this Section 2(C), the number of securities required
to satisfy any underwriters' over-allotment option shall be allocated among the
Company, the Investor and any Third Party Seller pro rata on the basis of the
relative number of securities offered for sale under such registration by the
Investor, the Company and any such Third Party Sellers before the exercise of
such over-allotment option.

          3. Obligations of the Company

         In connection with the registration of the Registrable Securities, the
Company shall:

                   (A) Promptly (i) prepare and file with the Commission such
amendments (including post-effective amendments) to the Registration Statement
and supplements to the Prospectus as may be necessary to keep the Registration
Statement continuously effective and in compliance with the provisions of the
Securities Act applicable thereto so as to permit the Prospectus forming part
thereof to be current and useable by Investor for resales of the Registrable
Securities for a period of five (5) years from the date on which the
Registration Statement is first declared effective by the Commission (the
"Effective Time") or such shorter period that will terminate when all the
Registrable Securities covered by the Registration Statement have been sold
pursuant thereto in accordance with the plan of distribution provided in the
Prospectus, transferred pursuant to Rule 144 under the Securities Act or
otherwise transferred in a manner that results in the delivery of new securities
not subject to transfer restrictions under the Securities Act (the "Registration
Period") and (ii) take all lawful action such that each of (A) the Registration
Statement and any amendment thereto does not, when it becomes effective, contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, not misleading
and (B) the Prospectus forming part of the Registration Statement, and any
amendment or supplement thereto, does not at any time during the Registration
Period include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not
misleading;

                   (B) During the Registration Period, comply with the
provisions of the Securities Act with respect to the Registrable Securities of
the Company covered by the Registration Statement until such time as all of such
Registrable Securities have been disposed of in accordance with the intended
methods of disposition by the Investor as set forth in the Prospectus forming
part of the Registration Statement;

                   (C) (i) Prior to the filing with the Commission of any
Registration Statement (including any amendments thereto) and the distribution
or delivery of any Prospectus (including any supplements thereto), provide (A)
draft copies thereof to the Investor and reflect in such documents all such
comments as the Investor (and its counsel) reasonably may propose and (B) to the
Investor a copy of the accountant's consent letter to be included in the filing
and (ii) furnish to the Investor whose Registrable Securities are included in
the Registration Statement and its legal counsel identified to the Company, (A)
promptly after the same is prepared and publicly distributed, filed with the
Commission, or received by the Company, one copy of the Registration Statement,
each Prospectus, and each amendment or supplement thereto and (B) such number of
copies of the Prospectus and all amendments and supplements thereto and such
other documents, as such Investor may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such Investor;

                   (D) (i) Register or qualify the Registrable Securities
covered by the Registration Statement under such securities or "blue sky" laws
of such jurisdictions as the Investor who holds a majority-in-interest of the
Registrable Securities being offered reasonably requests, (ii) prepare and file
in such jurisdictions such amendments (including post-effective amendments) and
supplements to such registrations and qualifications as may be necessary to
maintain the effectiveness thereof at all times during the Registration Period,
(iii) take all such other lawful actions as may be necessary to maintain such
registrations and qualifications in effect at all times during the Registration
Period and (iv) take all such other lawful actions reasonably necessary or
advisable to qualify the Registrable Securities for sale in such jurisdictions;
provided, however, that the Company shall not be required in connection
therewith or as a condition thereto to (A) qualify to do business in any
jurisdiction where it would not otherwise be required to qualify but for this
Section 3(D), (B) subject itself to general taxation in any such jurisdiction or
(C) file a general consent to service of process in any such jurisdiction;

                   (E) As promptly as practicable after becoming aware of such
event, notify the Investor of the occurrence of any event, as a result of which
the Prospectus included in the Registration Statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading, and
promptly prepare an amendment to the Registration Statement and supplement to
the Prospectus to correct such untrue statement or omission, and deliver a
number of copies of such supplement and amendment to the Investor as such
Investor may reasonably request;

                  (F) As promptly as practicable after becoming aware of such
event, notify the Investor who holds Registrable Securities being sold (or, in
the event of an underwritten offering, the managing underwriters) of the
issuance by the Commission of any stop order or other suspension of the
effectiveness of the Registration Statement at the earliest possible time and
take all lawful action to effect the withdrawal, recession or removal of such
stop order or other suspension;

                   (G) Cause all the Registrable Securities covered by the
Registration Statement to be listed on the principal national securities
exchange, and included in an inter-dealer quotation system of a registered
national securities association, on or in which securities of the same class or
series issued by the Company are then listed or included;

                   (H) Maintain a transfer agent and registrar, which may be a
single entity, for the Registrable Securities not later than the effective date
of the Registration Statement;

                  (I) Cooperate with the Investor who hold Registrable
Securities being offered to facilitate the timely preparation and delivery of
certificates for the Registrable Securities to be offered pursuant to the
registration statement and enable such certificates for the Registrable
Securities to be in such denominations or amounts, as the case may be, as the
Investor reasonably may request and registered in such names as the Investor may
request; and, within three (3) business days after a registration statement
which includes Registrable Securities is declared effective by the Commission,
deliver and cause legal counsel selected by the Company to deliver to the
transfer agent for the Registrable Securities (with copies to the Investor whose
Registrable Securities are included in such registration statement) an
appropriate instruction and, to the extent necessary, an opinion of such
counsel;

                  (J) Take all such other lawful actions reasonably necessary to
expedite and facilitate the disposition by the Investor of its Registrable
Securities in accordance with the intended methods therefor provided in the
Prospectus which are customary under the circumstances;

                  (K) Make generally available to its security holders as soon
as practicable, but in any event not later than three (3) months after (i) the
effective date (as defined in Rule 158(c) under the Securities Act) of the
Registration Statement and (ii) the effective date of each post-effective
amendment to the Registration Statement, as the case may be, an earnings
statement of the Company and its subsidiaries complying with Section 11 (a) of
the Securities Act and the rules and regulations of the Commission thereunder
(including, at the option of the Company, Rule 158);

                   (L) In the event of an underwritten offering, promptly
include or incorporate in a Prospectus supplement or post-effective amendment to
the Registration Statement such information as the managers reasonably agree
should be included therein and to which the Company does not reasonably object
and make all required filings of such Prospectus supplement or post-effective
amendment as soon as practicable after it is notified of the matters to be
included or incorporated in such Prospectus supplement or post-effective
amendment;

                   (M) (i) Make reasonably available for inspection by Investor,
any underwriter participating in any disposition pursuant to the Registration
Statement, and any attorney, accountant or other agent retained by such Investor
or any such underwriter all relevant financial and other records, pertinent
corporate documents and properties of the Company and its subsidiaries, and (ii)
cause the Company's officers, directors and employees to supply all information
reasonably requested by such Investor or any such underwriter, attorney,
accountant or agent in connection with the Registration Statement, in each case,
as is customary for similar due diligence examinations; provided, however, that
all records, information and documents that are designated in writing by the
Company, in good faith, as confidential, proprietary or containing any material
nonpublic information shall be kept confidential by such Investor and any such
underwriter, attorney, accountant or agent (pursuant to an appropriate
confidentiality agreement in the case of any such holder or agent), unless such
disclosure is made pursuant to judicial process in a court proceeding (after
first giving the Company an opportunity promptly to seek a protective order or
otherwise limit the scope of the information sought to be disclosed) or is
required by law, or such records, information or documents become available to
the public generally or through a third party not in violation of an
accompanying obligation of confidentiality; and provided, further, that, if the
foregoing inspection and information gathering would otherwise disrupt the
Company's conduct of its business, such inspection and information gathering
shall, to the maximum extent possible, be coordinated on behalf of the Investor
and the other parties entitled thereto by one firm of counsel designed by and on
behalf of the majority in interest of Investor and other parties;

                  (N) In connection with any underwritten offering, make such
representations and warranties to the Investor participating in such
underwritten offering and to the managers, in form, substance and scope as are
customarily made by the Company to underwriters in secondary underwritten
offerings;

                   (O) In connection with any underwritten offering, obtain
opinions of counsel to the Company (which counsel and opinions (in form, scope
and substance) shall be reasonably satisfactory to the managers) addressed to
the underwriters, covering such matters as are customarily covered in opinions
requested in secondary underwritten offerings (it being agreed that the matters
to be covered by such opinions shall include, without limitation, as of the date
of the opinion and as of the Effective Time of the Registration Statement or
most recent post-effective amendment thereto, as the case may be, the absence
from the Registration Statement and the Prospectus, including any documents
incorporated by reference therein, of an untrue statement of a material fact or
the omission of a material fact required to be stated therein or necessary to
make the statements therein (in the case of the Prospectus, in light of the
circumstances under which they were made) not misleading, subject to customary
limitations);

                  (P) In connection with any underwritten offering, obtain "cold
comfort" letters and updates thereof from the independent public accountants of
the Company (and, if necessary, from the independent public accountants of any
business acquired by the Company for which financial statements and financial
data are, or are required to be, included in the Registration Statement),
addressed to each underwriter participating in such underwritten offering (if
such underwriter has provided such letter, representations or documentation, if
any, required for such cold comfort letter to be so addressed), in customary
form and covering matters of the type customarily covered in "cold comfort"
letters in connection with secondary underwritten offerings;

                   (Q) In connection with any underwritten offering, deliver
such documents and certificates as may be reasonably required by the managers,
if any, and

                   (R) In the event that any broker-dealer registered under the
Exchange Act shall be an "Affiliate" (as defined in Rule 2729(b)(1) of the rules
and regulations of the National Association of Securities Dealers, Inc. (the
"NASD Rules") (or any successor provision thereto)) of the Company or has a
"conflict of interest" (as defined in Rule 2720(b)(7) of the NASD Rules (or any
successor provision thereto)) and such broker-dealer shall underwrite,
participate as a member of an underwriting syndicate or selling group or assist
in the distribution of any Registrable Securities covered by the Registration
Statement, whether as a holder of such Registrable Securities or as an
underwriter, a placement or sales agent or a broker or dealer in respect
thereof, or otherwise, the Company shall assist such broker-dealer in complying
with the requirements of the NASD Rules, including, without limitation, by (A)
engaging a "qualified independent underwriter" (as defined in Rule 2720(b)(15)
of the NASD Rules (or any successor provision thereto)) to participate in the
preparation of the Registration Statement relating to such Registrable
Securities, to exercise usual standards of due diligence in respect thereof and
to recommend the public offering price of such Registrable Securities, (B)
indemnifying such qualified independent underwriter to the extent of the
indemnification of underwriters provided in Section 6 hereof and (C) providing
such information to such broker-dealer as may be required in order for such
broker-dealer to comply with the requirements of the NASD Rules.

                  4. Obligations of the Investor

                   In connection with the registration of the Registrable
Securities, the Investor shall have the following obligations:

                   (A) It shall be a condition precedent to the obligations of
the Company to complete the registration pursuant to this Agreement with respect
to the Registrable Securities of a particular Investor that such Investor shall
furnish to the Company such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable
Securities held by it as shall be reasonably required to effect the registration
of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably request;

                   (B) The Investor by its acceptance of the Registrable
Securities agrees to cooperate with the Company in connection with the
preparation and filing of the Registration Statement hereunder, unless such
Investor has notified the Company in writing of its election to exclude all of
its Registrable Securities from the Registration Statement; and

                  (C) The Investor agrees that, upon receipt of any notice from
the Company of the occurrence of any event of the kind described in Section 3(E)
or 3(F), it shall immediately discontinue its disposition of Registrable
Securities pursuant to the Registration Statement covering such Registrable
Securities until such Investor's receipt of the copies of the supplemented or
amended Prospectus contemplated by Section 3(E) and, if so directed by the
Company, such Investor shall deliver to the Company (at the expense of the
Company) or destroy (and deliver to the Company a certificate of destruction)
all copies in such Investor's possession, of the Prospectus covering such
Registrable Securities current at the time of receipt of such notice.

                  5. Expenses of Registration

                   All expenses, other than underwriting discounts and
commissions, incurred in connection with registrations, filings or
qualifications pursuant to Section 3, but including, without limitation, all
registration, listing, and qualifications fees, printing and engraving fees,
accounting fees, and the fees and disbursements of counsel for the Company shall
be borne by the Company.

                   6. Indemnification and Contribution

                   (A) Indemnification by the Company. The Company shall
indemnify and hold harmless each Investor and each underwriter, if any, which
facilitates the disposition of Registrable Securities, and each of their
respective officers and directors and each person who controls such Investor or
underwriter within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act (each such person being sometimes hereinafter referred to as
an "Indemnified Person") from and against any losses, claims, damages or
liabilities, joint or several, to which such Indemnified Person may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based
upon an untrue statement of a material fact contained in any Registration
Statement or an omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, not
misleading, or arise out of or are based upon an untrue statement of a material
fact contained in any Prospectus or an omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading; and the Company hereby agrees to reimburse such
Indemnified Person for all reasonable legal and other expenses incurred by them
in connection with investigating or defending any such action or claim as and
when such expenses are incurred; provided, however, that the Company shall not
be liable to any such Indemnified Person in any such case to the extent that any
such loss, claim, damage or liability arises out of or is based upon (i) an
untrue statement or alleged untrue statement made in, or an omission or alleged
omission from, such Registration Statement or Prospectus in reliance upon and in
conformity with written information furnished to the Company by such Indemnified
Person expressly for use therein or (ii) in the case of the occurrence of an
event of the type specified in Section 3(E), the use by the Indemnified Person
of an outdated or defective Prospectus after the Company has provided to such
Indemnified Person an updated Prospectus correcting the untrue statement or
alleged untrue statement or omission or alleged omission giving rise to such
loss, claim, damage or liability.

                  (B) Notice of Claims, etc. Promptly after receipt by a party
seeking indemnification pursuant to this Section 6 (an "Indemnified Party") of
written notice of any investigation, claim, proceeding or other action in
respect of which indemnification is being sought (each, a "Claim"), the
Indemnified Party promptly shall notify the party against whom indemnification
pursuant to this Section 6 is being sought (the "Indemnifying Party") of the
commencement thereof; but the omission to so notify the Indemnifying Party shall
not relieve it from any liability that it otherwise may have to the Indemnified
Party, except to the extent that the Indemnifying Party is materially prejudiced
and forfeits substantive rights and defenses by reason of such failure. In
connection with any Claim as to which both the Indemnifying Party and the
Indemnified Party are parties, the Indemnifying Party shall be entitled to
assume the defense thereof. Notwithstanding the assumption of the defense of any
Claim by the Indemnifying Party, the Indemnified Party shall have the right to
employ separate legal counsel and to participate in the defense of such Claim,
and the Indemnifying Party shall bear the reasonable fees, out-of-pocket costs
and expenses of such separate legal counsel to the Indemnified Party if (and
only if): (x) the Indemnifying Party shall have agreed to pay such fees, costs
and expenses, (y) the Indemnified Party and the Indemnifying Party shall
reasonably have concluded that representation of the Indemnified Party by the
Indemnifying Party by the same legal counsel would not be appropriate due to
actual or, as reasonably determined by legal counsel to the Indemnified Party,
potentially differing interests between such parties in the conduct of the
defense of such Claim, or if there may be legal defenses available to the
Indemnified Party that are in addition to or disparate from those available to
the Indemnifying Party or (z) the Indemnifying Party shall have failed to employ
legal counsel reasonably satisfactory to the Indemnified Party within a
reasonable period of time after notice of the commencement of such Claim. If the
Indemnified Party employs separate legal counsel in circumstances other than as
described in clauses (x), (y) or (z) above, the fees, costs and expenses of such
legal counsel shall be borne exclusively by the Indemnified Party. Except as
provided above, the Indemnifying Party shall not, in connection with any Claim
in the same jurisdiction, be liable for the fees and expenses of more than one
firm of counsel for the Indemnified Party (together with appropriate local
counsel). The Indemnified Party shall not, without the prior written consent of
the Indemnifying Party (which consent shall not unreasonably be withheld),
settle or compromise any Claim or consent to the entry of any judgment that does
not include an unconditional release of the Indemnifying Party from all
liabilities with respect to such Claim or judgment.
                  (C) Contribution. If the indemnification provided for in this
Section 6 is unavailable to or insufficient to hold harmless an Indemnified
Person under subsection (A) above in respect of any losses, claims, damages or
liabilities (or actions in respect thereof) referred to therein, then each
Indemnifying Party shall contribute to the amount paid or payable by such
Indemnified Party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the
relative fault [how is this determined??] of the Indemnifying Party and the
Indemnified Party in connection with the statements or omissions which resulted
in such losses, claims, damages or liabilities (or actions in respect thereof),
as well as any other relevant equitable considerations. The relative fault of
such Indemnifying Party and Indemnified Party shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or omission or alleged omission to state a material fact relates
to information supplied by such Indemnifying Party or by such Indemnified Party,
and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto
agree that it would not be just and equitable if contribution pursuant to this
Section 6(D) were determined by pro rata allocation (even if the Investor or any
underwriters were treated as one entity for such purpose) or by any other method
of allocation which does not take account of the equitable considerations
referred to in this Section 6(D). The amount paid or payable by an Indemnified
Party as a result of the losses, claims, damages or liabilities (or actions in
respect thereof) referred to above shall be deemed to include any legal or other
fees or expenses reasonably incurred by such Indemnified Party in connection
with investigating or defending any such action or claim. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The obligations of the Investor and
any underwriters in this Section 6(D) to contribute shall be several in
proportion to the percentage of Registrable Securities registered or
underwritten, as the case may be, by them and not joint.

                   (D) Notwithstanding any other provision of this Section 6, in
no event shall any (i) Investor be required to undertake liability to any person
under this Section 6 for any amounts and (ii) underwriter be required to
undertake liability to any Person hereunder for any amounts in excess of the
aggregate discount, commission or other compensation payable to such underwriter
with respect to the Registrable Securities underwritten by it and distributed
pursuant to the Registration Statement.

                  (E) The obligations of the Company under this Section 6 shall
be in addition to any liability which the Company may otherwise have to any
Indemnified Person and the obligations of any Indemnified Person under this
Section 6 shall be in addition to any liability which such Indemnified Person
may otherwise have to the Company. The remedies provided in this Section 6 are
not exclusive and shall not limit any rights or remedies which may otherwise be
available to an indemnified party at law or in equity.

                  7. Rule 144

                  With a view to making available to the Investor the benefits
of Rule 144 under the Securities Act or any other similar rule or regulation of
the Commission that may at any time permit the Investor to sell securities of
the Company to the public without registration ("Rule 144"), the Company agrees
to use its best efforts to:

            (1) comply with the provisions of paragraph (c) (1) of Rule 144 and

                  (2) file with the Commission in a timely manner all reports
and other documents required to be filed by the Company pursuant to Section 13
or 15(d) under the Exchange Act; and, if at any time it is not required to file
such reports but in the past had been required to or did file such reports, it
will, upon the request of any Investor, make available other information as
required by, and so long as necessary to permit sales of, its Registrable
Securities pursuant to Rule 144.

                  8. Assignment

                  The rights to have the Company register Registrable Securities
pursuant to this Agreement shall be automatically assigned by the Investor to
any permitted transferee of all or any portion of such Registrable Securities
(or all or any portion of the Warrants of the Company which are convertible into
such securities) only if (a) the Investor agrees in writing with the transferee
or assignee to assign such rights, and a copy of such agreement is furnished to
the Company within a reasonable time after such assignment, (b) the Company is,
within a reasonable time after such transfer or assignment, furnished with
written notice of (i) the name and address of such transferee or assignee and
(ii) the securities with respect to which such registration rights are being
transferred or assigned, (c) immediately following such transfer or assignment,
the securities so transferred or assigned to the transferee or assignee
constitute Restricted Securities and (d) at or before the time the Company
received the written notice contemplated by clause (b) of this sentence the
transferee or assignee agrees in writing with the Company to be bound by all of
the provisions contained herein.

                   9. Amendment and Waiver

                  Any provision of this Agreement may be amended and the
observance thereof may be waived (either generally or in a particular instance
and either retroactively or prospectively), only with the written consent of the
Company and Investor who hold a majority-in-interest of the Registrable
Securities. Any amendment or waiver effected in accordance with this Section 9
shall be binding upon each Investor and the Company.

                   10. Changes in Common Stock

                  If, and as often as, there are any changes in the Common Stock
by way of stock split, stock dividend, reverse split, combination or
reclassification, or through merger, consolidation, reorganization or
recapitalization, or by any other means, appropriate adjustment shall be made in
the provisions hereof, as may be required, so that the rights and privileges
granted hereby shall continue with respect to the Common Stock as so changed.
                  11. Miscellaneous

                   (A) A person or entity shall be deemed to be a holder of
Registrable Securities whenever such person or entity owns of record such
Registrable Securities. If the Company receives conflicting instructions,
notices or elections from two or more persons or entities with respect to the
same Registrable Securities, the Company shall act upon the basis of
instructions, notice or election received from the registered owner of such
Registrable Securities.

                   (B) Except as may be otherwise provided herein, any notice or
other communication or delivery required or permitted hereunder shall be in
writing and shall be delivered personally, or sent by telecopier machine or by a
nationally recognized overnight courier service, and shall be deemed given when
so delivered personally, or by telecopier machine or overnight courier service
as follows:

                            (1) if to the Company, to:

                           USA TECHNOLOGIES, INC.
                           200 Plant Avenue
                           Wayne, PA 19087
                           Attention: George R. Jensen, Jr., CEO
                           Telecopier: (610) 989-0344
                            Telephone: (949) 989-0340

                            (2) if to the Investor, to:

                           Kazi Management VI, Inc.
                           30 Dronnigens Gade, Suite B
                           St. Thomas, Virgin Islands 00802
                           Telecopier: (340) 714-7331
                           Telephone: (340) 643-7860

          (3) if to any other  Investor,  at such address as such Investor shall
     have provided in writing to the Company.

          The Company,  the  Investor or any  Investor may change the  foregoing
     address by notice given pursuant to this Section 11(B).

                  (C) Failure of any party to exercise any right or remedy
under this Agreement or otherwise, or delay by a party in exercising such right
or remedy, shall not operate as a waiver thereof.

                  (D) This Agreement shall be governed by and interpreted in
accordance with the laws of the State of Pennsylvania. Each of the parties
consents to the jurisdiction of the federal courts whose districts encompass any
part of the City of Philadelphia or the state courts of the State of
Pennsylvania sitting in the City of Philadelphia in connection with any dispute
arising under this Agreement and hereby waives, to the maximum extent permitted
by law, any objection including any objection based on forum non conveniens, to
the bringing of any such proceeding in such jurisdictions.

                  (E) Should any party hereto employ an attorney for the purpose
of enforcing or construing this Agreement, or any judgment based on this
Agreement, in any legal proceeding whatsoever, including insolvency, bankruptcy,
arbitration, declaratory relief or other litigation, the prevailing party shall
be entitled to receive from the other party or parties thereto reimbursement for
all reasonable attorneys' fees and all reasonable costs, including but not
limited to service of process, filing fees, court and court reporter costs,
investigative costs, expert witness fees, and the cost of any bonds, whether
taxable or not, and that such reimbursement shall be included in any judgment or
final order issued in that proceeding. The "prevailing party" means the party
determined by the court to most nearly prevail and not necessarily the one in
whose favor a judgment is rendered.

                  (F) The remedies provided in this Agreement are cumulative
and not exclusive of any remedies provided by law. If any term, provision,
covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the
terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their best efforts to find and employ an
alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

                  (G) This Agreement, the Stock Purchase Agreement, and the
Warrants and Additional Warrants of even date herewith among the Company and the
Investor constitute the entire agreement among the parties hereto with respect
to the subject matter hereof. There are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein. These Agreements
supersede all prior agreements and undertakings among the parties hereto with
respect to the subject matter hereof.

                  (H) Subject to the requirements of Section 8 hereof, this
Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties hereto.

                  (I) All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may require.

                  (J) The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning thereof.

                  (K) This Agreement may be executed in two (2) counterparts,
each of which shall be deemed an original but both of which shall constitute one
and the same agreement. A facsimile transmission of this signed Agreement shall
be legal and binding on the parties hereto.

          IN WITNESS WHEREOF, the parties hereto have duly caused this Agreement
     to be executed and delivered on the date first above written.

                                            USA TECHNOLOGIES, INC.,
                                            a Pennsylvania corporation

                                                 /s/ George R. Jensen, Jr.
                                            By:___________________________
                                            Name: George R. Jensen, Jr.
                                            Title: Chairman & CEO

                                            Investor:

                                            KAZI MANAGEMENT VI, INC.

                                                  /s/
                                             By: __________________________
                                             Name:
                                             Title:

<PAGE>

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