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Currency exchange kiosks to be installed in the UK

UK based entrepreneurs have created a kiosk called Fourex which can accept 150 different types of currency and convert it to U.S. dollars, sterling, or euros.

March 17, 2015

UK-based entrepreneurs have created a kiosk called Fourex which can accept 150 different types of currency and convert it to U.S. dollars, sterling, or euros. This will help UK citizens convert their estimated three billion euros of unused foreign currency.

Fourex will use image recognition software to identify not only mainstream currency but also pre-euro currency such as the Deutschmark. Fourex is able to accept 300 foreign coins per minute.

The co-founders Jeff Paterson and Oliver Du Toit have been able to raise 375,000 euros for this project. They plan to install the kiosks in several different subway stations and at the Westfield Shopping Center in London, England. Currently, the deployment date is set for this summer.