USAT pioneered cashless payment, contactless payment, and JumpStart in the self serve, small ticket vending, kiosks and self-serve POS industries. No one else in the markets we serve offers a sales incentive like JumpStart. And we are the small ticket, traditional beverage and food vending industry's only one-stop-shop, total solution provider. We provide our customers and that industry everything they need to go cashless.
We believe that the recent growth of our business illustrates that our industry's conversion to cashless payment is accelerating. We are convinced that the small ticket food and beverage vending industry is reaching the "Tipping Point" in going cashless. Cashless is giving consumers the ease and convenience they want when making payment at a vending machine. If the consumer has no cash, they most likely will have a credit or debit card.
When it comes to the very latest NFC (near-field communication) payment trend, we were there from the beginning, ideally positioned and ready to capitalize on the anticipated move to NFC payment. As more advanced contactless and NFC payment methods emerge, and bring greater operator and consumer convenience, efficiency and security, we believe that mobile commerce may grow to mainstream usage.
Our ePort G8 cashless terminal is capable of accepting all forms of payment, from traditional swipe cards, to contactless cards and tags, and NFC equipped mobile phones where consumers could make payments with their cell phones.
We have entered the era of the active merchant and mobile consumer, and that's where USAT intends to lead, and grow. We believe that never has the future of vending and self-serve retail commerce looked more promising or exciting than now.
Small ticket, food and beverage vending is USAT's biggest market for cashless solutions, but we are also receiving increasing requests and seeing more conversion to cashless in 'other' self-serve retail industries such as kiosks, laundry services, automotive, and amusement industries. The cashless option is helping these 'other' self-serve businesses overcome the same challenges the vending industry experienced, such as limitations on how much cash or coin a consumer carries, price elasticity barriers, as well as growing demand from consumers wanting to use credit or debit.
Our over-riding goal is to improve the consumer's purchasing experience, and grow business for our customers. The interactivity that may be offered by mobile commerce where operators could transmit discounts, coupons, sales incentives and advertising to a consumer's cell phone, could create the potential for an entirely new, and even more convenient shopping experience. We believe that it could bring the operator and consumer closer together through communications like never before.
USA Technologies has worked long and hard executing business plans, overcoming challenges, innovating, leading, and pursuing opportunities. Now I believe that we are beginning to see the rewards for our efforts and sacrifices.
Pursuant to its processing agreements with its customers, the company earns transaction processing fees equal to a percentage of the dollar volume processed by the company, which are included as licensing and transaction processing revenues in its consolidated statements of operations. The company's transaction processing volume is not indicative of the gross profit from license and transaction fees. The company's audited financial results for the fiscal year ended June 30, 2011 will be reported in the company's form 10-K which the company anticipates filing with the Securities and Exchange Commission by no later than Sept. 28, 2011.