News

2002 Nilson Report Predicts Rising Cash Usage through 2005

Report underscores importance of cash acceptance for retail kiosks and unattended points of sale

December 2, 2004

WEST CHESTER, Pa., 30 October, 2002 - MEI, the world's leading developer of electronic cash payment systems, announced that demand will rise for its cash acceptors products in the retail industry according to a recently published analyst report on rising cash usage. The April 2002 Nilson Report, the leading publication covering consumer payment systems worldwide, underscores the importance of cash acceptance for retail transactions, particularly for small value transactions.

"Cash will always be the most convenient form of payment for small-value transactions such as taxi fares, tips, newspapers and magazines, shoeshines, currency-activated gaming machines, convenience store purchases, etc.," stated the Nilson Report. "Because those who use cash remain anonymous, they can't be audited, transactions can't be traced and it never requires identification of users."

"We continue to caution retailers not to ignore the large percentage of their customers who prefer to use cash for their transactions when they design kiosks and unattended sales centers," said Fiona Naughton, MEI's global business developer for the retail market. "In terms of sales and ROI, kiosks and self checkout systems that provide a cash option continue to out-perform those that don't."

For 32 years, the Nilson Report has been the world's leading source of news and proprietary research on consumer payment systems. They are continually quoted in the Wall Street Journal, the NY Times, Business Week, American Banker, Financial Times and other government agency publications. For more information, go to www.nilsonreport.com <http://www.nilsonreport.com>.

MEIis one of the world's leading manufacturers of electronic bill acceptors, coin mechanisms, and other electronic payment systems. The company developed the world's first electronic coin validator in the late 1960s and today, has the largest, worldwide installed base of unattended payment mechanisms. Current innovations include MEI EASITRAX™vending management solutions. This leading-edge technology and software system supports every aspect of a vending operator's business from data collection and analysis to business management.

In 2002, MEI reached a company milestone mark of selling more than 3 million bill acceptors, 3 million coin changers and 1 million control boards worldwide. Its products are in widespread use in the vending, coin telephone, gaming, retail, amusement, lottery and transportation industries. For more information on MEI and its products, visit www.meiglobal.com <http://www.meiglobal.com>, or call 1-800-345-8215 x2510.