The sale raised a total of $10.7 million, with net proceeds of approximately $9.9 million, after deducting fees and expenses. The proceeds of the offering will be used primarily to support the continuation of the Company's JumpStart program under which USA Technologies, Inc. generated over 32,000 new connections in calendar year 2010.

"We are pleased to have quickly closed this transaction so that we can put the proceeds to work in our highly-successful JumpStart program," said George Jensen, Chairman and Chief Executive Officer of USA Technologies. "As cashless payments become increasingly adopted across a variety of small-ticket, unattended retail industries such as vending, laundry, kiosk, amusement and others, we believe that having a proven program such as JumpStart in place enhances our ability to accelerate growth, build shareholder value, and sustain our industry leadership."

Chardan Capital Markets acted as sole placement agent to USA Technologies, Inc. for this transaction.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.