FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

GERZOF RICHARD 		2. Issuer Name and Ticker or Trading Symbol

GLOBAL PAYMENT TECHNOLOGIES INC [ GPTX.OB ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

873 REMSENS LANE 		3. Date of Earliest Transaction (MM/DD/YYYY)

1/22/2008
(Street)

UPPER BROOKVILLE,, NY 11771
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

1/24/2008 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share                  375600   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options to Purchase Common Stock   $0.20   1/22/2008     A     250000       1/22/2008   1/21/2015   Common Stock   250000   $0   250000   D    
Options to Purchase Common Stock   $2.05                   1/22/2008   5/14/2013   Common Stock   3500     3500   D    
Options to Purchase Common Stock   $2.05                   1/22/2008   5/14/2013   Common Stock   20000     20000   D    
Options to Purchase Common Stock   $6.86                   1/22/2008   3/9/2012   Common Stock   3500     3500   D    
Options to Purchase Common Stock   $6.86                   3/10/2007   3/9/2012   Common Stock   20000     20000   D    
Options to Purchase Common Stock   $3.97                   3/22/2006   3/22/2011   Common Stock   20000     20000   D    
Options to Purchase Common Stock   $3.97                   1/22/2008   3/22/2011   Common Stock   3500     3500   D    
Options to Purchase Common Stock   $4.05                   1/22/2008   5/28/2010   Common Stock   3500     3500   D    
Options to Purchase Common Stock   $4.05                   5/28/2005   5/28/2010   Common Stock   14000     14000   D    
Options to Purchase Common Stock   $3.6                   12/5/2006   12/4/2008   Common Stock   5000     5000   D    
Options to Purchase Common Stock   $3.6                   12/4/2003   12/4/2008   Common Stock   14000     14000   D    
Options to Purchase Common Stock   $2.4065                   3/18/2004   3/18/2008   Common Stock   15500     15500   D    

Explanation of Responses:

Remarks:
This amendment has been filed solely to correct a misspelling of the signatory's name.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GERZOF RICHARD
873 REMSENS LANE
UPPER BROOKVILLE,, NY 11771 		X



Signatures
/s/ William McMahon, Attorney in Fact 1/25/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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