News

MEI products to accept color $50 bill

August 10, 2004

WEST CHESTER, Pa. - MEI plans to seamlessly transition retail customers to accept the soon-to-be-released color $50 bill in kiosks, self-checkouts, and other self-serve retail systems. The U.S. Department of the Treasury's Bureau of Engraving and Printing will release the new $50 bill in September 2004, with the $100 to follow in late 2005.

Beginning August, '04, MEI will offer customers several options to upgrade their bill acceptors in the field so that they will recognize and accept the new $50 upon release.

Upgrade and pricing options will differ according to the model bill acceptor. Systems with either a MEI CASHFLOW SC, a Series 1000 (ZT1200,) a Series 2000 (AE2800) or a Series 3000 (RS, LE,) bill acceptor can be upgraded by remote FLASH download through the interface or by using an MEI service tool (CPM/BPM).

For high performance in both bill handing and security, MEI bill acceptors utilize optical sensing technology rather than magnetic technology, and are ideally suited to handle the new, highly secure currency designs. The research and development behind MEI's optics-based products anticipated the BEP's changes to provide customers with future-ready technology. 

Based on its consultative relationship with the U.S. Treasury BEP, MEI designed its upgrade technology to ensure that retail kiosks and self-serve systems can be updated to accept the new $50 even before the official launch of the new bill. "

"Seamless acceptance of these new currency designs is critical to retailers' business, especially in unattended applications," said Andrew Osborne, global marketing manager for MEI's retail division. "MEI was one of the few companies to provide completely seamless upgrades when the new color $20 bill was released last year; we look forward to the same success this time around."