WEST CHESTER, Pa., October 13, 2008 — As vending product prices rise, operators are looking for new devices that make it convenient for consumers to pay with larger bills. MEI has responded with a cash recycling bill validator that can be retrofitted into operators’ installed base of vending machines. Equipped with an MEI CASHFLOW® Series 2000 VNR, vending machines can accept the $20 bills that consumers most commonly have on hand from ATM withdrawals without concerns of depleting their coin supply.
The MEI CASHFLOW® Series 2000 VNR accepts $1, $5, $10 and $20 bills, and stores either $1 or $5 bills for use as change for future purchases. By recycling the most commonly used bills, vending machines can provide appropriate change using minimal coin. Operators reduce the amount of replenishment needed, which lowers their overall cash management costs.
“Less than two percent of bill validators deployed today accept twenty-dollar bills. That means millions of machines installed at locations cannot accept the cash that consumers most commonly carry around,” said Chuck Reed, vending channel marketing manager, MEI. “Operators don’t want to continue losing these customers to convenience stores. This product lets them compete head on.”
The MEI CASHFLOW VNR will offer several industry firsts, including a small cash recycler footprint virtually equal to that of a standard bill validator. In addition, the product features the industry’s only high-visibility bezel that easily indicates to consumers which denominations are accepted using bright, low-powered LEDs. The high-visibility bezel can be replaced with the MEI 4-in-1 bezel to enable the CASHFLOW VNR to accept credit, debit and contactless payments.
For operators who plan to explore cash recycling at a later date, MEI now offers an affordable means to future-proof their bill validator purchases — operators purchasing an MEI VN2700 bill validator can later upgrade it to the VNR by simply adding on the compact recycling module. MEI plans to start field testing the CASHFLOW VNR and the VN2700 this quarter and release them for purchase in early 2009.
Product features of the VNR include:
- Recycles a single denomination of bills ($1 or $5 bills)
- Can be installed in new or used vending machines
- Compatible with all MDB coin changers/coin mechs
- A programmable recycler module that holds up to 30 bills at a time
- Uses Series 2000 bill validator technology, the industry’s best-selling product with more than four million units sold
MEI will offer demonstrations of the MEI CASHFLOW Series 2000 VNR at the 2008 NAMA National Expo, Booth 1552, October 15-17, America’s Center, St. Louis.
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 is comprised of 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 more than 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.