WEST CHESTER, Pa. , August 17, 2009 — With $20 bills comprising 22 percent of all notes currently printed in the U.S. , it’s surprising that only a small percentage of vending machines are equipped to accept bills commonly carried by consumers. This drives many potential vending customers to satisfy their thirst or hunger at convenience stores and other outlets.
MEI’s new CASHFLOW® Series 2000 VNR Vending Recycler allows vending machines to reliably accept $20, $10, $5 and $1 bills. It uses cash recycling technology to dispense previously accepted bills ($1s or $5s) as change. With the VNR, customers can make purchases directly from a vending machine using larger denominations frequently received from ATM withdrawals and collect their change in bills and coins. During the past few months, beta tests revealed an average of 15 percent sales lift on machines equipped with the VNR.
The Coca-Cola Bottling Company of Lehigh Valley, part of the ABARTA Beverage Group, has been using the VNR in its vending machines for about five months.
“Customers have told me firsthand how thrilled they are to receive bills as change instead of dollar coins,” said Mike Gallagher, service manager for the bottling company. “Sales on those machines have increased, and as far as dependability is concerned, the VNR delivers the same level of quality that I’ve always expected and trusted in MEI products.”
“Many leading vending operators are anxious to install the VNR because it gives them the opportunity to save $5, $10, and $20 bill transactions that they’ve been losing to convenience stores and other retail outlets,” said Chuck Reed, marketing director, MEI. “MEI’s cash recycling technology has proven in testing to perform with the same reliability and quality that the vending industry has come to expect from all of our payment systems.”
The MEI CASHFLOW VNR features a modular design and has the smallest cash recycler footprint available. An optional high-visibility bezel with bright, low-powered LEDs catches the attention of customers and easily informs them which denominations are being accepted. For operators looking to expand payment options even more, they can install the MEI 4-in-1 bezel, which allows the CASHFLOW VNR to accept cash, MEI coupons, credit card and contactless payments.
Key features and benefits of the VNR include:
- Accepts $20s, $10s, $5s and $1s with the ability to recycle a single denomination of bills ($1s or $5s), so customers aren’t limited to receiving coins as change
- Modular design makes it easy for an operator to add the VNR recycler module to a VN2700 bill validator at any time
- Easily installed across a wide range of makes and models of vending machines
- Compatible with all MDB coin changers/coin mechs
- Programmable recycler module holds up to 30 bills at a time, requiring less frequent replenishment for reduced service costs
- Proven performance of the Series 2000 bill validator technology, including the industry’s highest acceptance rates — more than 98 percent
MEI also introduced its VN2700 validator earlier this year. While the ability to accept $20, $10, $5 and $1 bills is standard with the VN2700, it also makes it simple for operators to enable cash recycling in the future. They can field retrofit the compact VNR recycling module at any time.
MEI will showcase the MEI CASHFLOW Series 2000 VNR at the 2009 NAMA National Expo, Booth 701, Sept. 23-25, at the Navy Pier in Chicago .
The National Automatic Merchandising Association is the national trade association of the food and refreshment vending, coffee service and foodservice management industries, including on-site, commissary, catering and mobile. Its membership comprises service companies, equipment manufacturers, and suppliers of products and services to operating service companies.
MEI, headquartered in West Chester , Pa. , holds the world’s largest installed base of unattended payment systems, handling over two billion transactions per week in more than 100 countries. The company developed the first electronic coin mechanism in the 1960s, followed by the first electronic non-contact bill acceptor, and more recently its credit card capability and vending management solution. Recently, MEI reached a milestone of selling more than four million bill acceptors and five million coin mechanisms worldwide. Its products are in widespread use in the vending, soft drink, gaming, amusement, transport, retail, and kiosk markets. For more information on MEI and its products, visit www.meigroup.com or call 800-345-8215.