Although high-volume, high-end cash recyclers have been available for several years for banking applications, until now there has not been a viable cash recycler for retail point-of-sale transactions
West Chester, PA (PRWEB) May 9, 2008
MEI, the world's leading developer of unattended payment systems, launched its Cashflow® Banknote Recycler (BNR) for virtually jam-free self-checkout operations in all retail applications.
The Cashflow BNR is a point-of-sale cash-recycling device that combines the functions of a traditional bill acceptor and dispenser into one device, significantly reducing the cash float required for undisrupted self-checkout operation.
In simulations using actual checkout transaction data, the Cashflow BNR reduces cash float an average of 87 percent - from thousands of dollars to a few hundred dollars - compared to conventional acceptor/dispenser systems. Less float translates into lower cash costs, less shrink, less labor and fewer reconciliation errors.
"Although high-volume, high-end cash recyclers have been available for several years for banking applications, until now there has not been a viable cash recycler for retail point-of-sale transactions," said Ian McCormick, executive VP at MEI. "The Cashflow BNR offers the same high-quality results and jam protection that millions of customers rely on from the MEI brand."
Self-checkout systems with an MEI Cashflow BNR require significantly less emptying, replenishing, counting and management of cash. This reduces operating costs and frees employees to service customers.
The MEI Cashflow BNR has a compact footprint, operates at a high speed, and has been designed for reliability. With the ability to recycle up to four denominations, the BNR allows self-service systems to run on less cash for longer periods of time. The modular design enables closed-loop cash management, and cash handling improves with its unique cash loader module that enables the device to serve customers immediately.
Several self-service equipment OEMs are currently preparing for field tests of new terminals using the Cashflow BNR.
MEI, headquartered in West Chester, Pa., holds the world's largest installed base of unattended payment systems, handling over 2 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 4 million bill acceptors and 5 million coin mechanisms worldwide. Its products are in widespread use in the vending, soft drink, gaming, amusement, transportation, retail, and kiosk markets. For more information on MEI and its products, visit http://www.meigroup.com or call 800-345-8215.