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MEI Rolls Out 'Coin Manager' into the UK

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Leading payment systems manufacturer MEI has announced that it will be rolling out its revolutionary MEI CASHFLOW™ 7000 series coin manager into the UK. The new changegiver has already been very successful in the U.S. and in Europe, where it has been available since Spring 2004.

“News of the benefits that the MEI CASHFLOW™ 7000 series brings to European vending operator has already reached the UK and, as a result, many people are looking forward to its launch in this country”, says David Bowman, MEI’s Sales Manager for Northern Europe, ”The onboard management features represent such a revolution in changegiver technology that the company has invented a new category of ‘coin manager’ for it.

“The MEI CASHFLOW™ 7000 series uses a number of innovations never before seen in a changegiver. Consequently it has proven ability to make a substantial contribution to operator profitability. Evidence from both Europe and the States shows that the coin manager increases sales as well as reducing the amount of money held in the machine to provide change.”

The MEI CASHFLOW™ 7000 series’ unique qualities are partly due to the sonar technology which has not previously been used in a payment system. The MEI CASHFLOW™ 7000 series sends a beam of sound down its five tubes and, on the basis of the time it takes for the sound wave to return, can calculate exactly how much change is in each tube. It is constantly checking that it is holding the minimum amount of coins whilst still ensuring the ‘Exact Change Only’ light stays off.

The success of the MEI CASHFLOW™ 7000 series in the U.S. has been endorsed by an independent academic study carried out by St. Joseph’s University in Philadelphia. The research compared the performance of various payment systems from a variety of manufacturers and concluded that MEI’s new coin manager was the ‘runaway’ winner.

Diane Murray of St. Joseph’s University said:” In this study, the machines equipped with MEI had such a significant increase in total revenue that the return on investment is higher than would be in the same machine with a free competitors’ payment system. After tracking more than 60,000 vends, it is obvious that MEI products are the category leader.”

The MEI CASHFLOW™ 7000 series has enormous change capacity and the ability to payback change in up to five denominations. This means that 'No change available' situations are minimised and profits increase. Furthermore the new operating software and unique sonar sensing allows the MEI CASHFLOW™ 7000 series to optimise cash levels, calculating exactly how many of each coin type it needs. This means that no money is held unnecessarily in the machine. European operators have seen savings of up to 70% on float levels, releasing cash to be used elsewhere in the business.

The MEI CASHFLOW™ 7000 series are five-tube changegivers, key benefits include:

  • Reducing costs by maximising the value from coins in the tube – optimising the float
  • Constantly monitoring the value of coins in the tube to minimise shrinkage
  • Greater flexibility to offer five different coin denominations
  • Greater change capacity, which drives sales on demanding sites such as airports or railway stations
  • Diagnostics and set up that are easier than ever before
  • Waterproofing to the highest levels yet seen in Europe

The MEI CASHFLOW™ 7000 series offers high levels of reliability but also has unprecedented levels of acceptance and security. The changegiver uses multidimensional analysis of various parameters including width, diameter and material plus the relationship between these, to ensure that no fraud coins are accepted. At the same time the ‘intelligent’ programming of the changegiver allows it to adapt to local coin characteristics, thus increasing the number of good coins which are accepted.

It is easy for operators to download audit information from the MEI CASHFLOW™ 7000 series. The data available includes statistics on transactions including lost sales, tubes replenished and the amount of money in the changegiver. Operators can monitor the performance of the machine over a period of time, as well as any unexpected reduction in the value of coins in the tubes.

For those servicing the machine, life could not be simpler. The MEI CASHFLOW™ 7000 series uses a large display that indicates the status of the changegiver and, in the unlikely event that there is a problem, exactly where the maintenance is required. The changegiver provides complete access to the coin path to clear debris without the use of any tools. Furthermore it is easy to change any or all the tubes. Experience from Europe shows that many minor issues can be addressed by the route person thus considerably reducing engineer call-outs.

In Europe vending operators have made savings of up to 70 per cent on the amount of cash stored in their machines as a result of using the MEI CASHFLOW™ 7000 series’ cutting-edge technology. Operator testimonials have appeared in a number of European publications.

Agustin Flores, General Manager of AF Comasa in Spain, said of the MEI CASHFLOW™ 7900: “It is a totally innovative coin mechanism with a display which makes the setup extremely easy and fast. The design of the separator allows our route people to solve coin jams, and the five tubes give us greater payout flexibility."

The success of the MEI CASHFLOW™ 7000 series in Europe has led to it completely replacing the popular MEI CASHFLOW™ 690 changegiver, and the MEI CASHFLOW™ 7000 series now accounts for 100 per cent of the MEI changegiver sales in mainland Europe.

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Note to Editors:
MEI is one of the world's largest manufacturers of electronic coin changers, bill acceptors, cashless payment systems, and other unattended transaction systems. Its products are currently in widespread use in the vending, soft drink, gaming, amusement, transportation and retail markets. You can find more information about MEI at www.meigroup.com

For further information contact The Ceres Partnership:

Peter Crowe, +44 (0)1604 654260/+44 (0)7967 504034
peter.crowe@ceres-pr.co.uk

Francesca Joslyn, +44 (0)1604 654260/+44 (0) 07855 263209
francesca.joslyn@ceres-pr.co.uk