News

MEI tech to help kiosks accept new $20

July 30, 2004

WEST CHESTER, Pa. -- MEI, developer of unattended payment systems, announced plans to transition retail customers to accept the soon-to-be-released color $20 in kiosks, self-checkouts and other unattended retail systems.

Beginning in August 2003, MEI is offering customers several options to upgrade bill acceptors in the field so the devices will recognize and accept the new $20 immediately upon release by the U.S. Treasury, according to a news release.

The U.S. Department of the Treasury's Bureau of Engraving and Printing (BEP) will begin releasing the new $20 in September/October 2003, with other denominations to follow next year. Upgrade options differ according to the model bill acceptor that customers have deployed, and customers will receive detailed upgrade ordering information from MEI in August.

Systems that utilize an MEI Cashflow SC bill acceptor or Series 2000 bill acceptors (including the AE2800 and AE2600) can receive a software upgrade by remote flash download at a cost of $10 to $20 per unit. Customers that have the AE2600 may prefer to "future-proof" their bill acceptor at this time with a control board trade-in, the release said.

The new control board, which costs about $75 per unit, will have additional memory to accommodate future U.S. Treasury updates such as the planned release of the color $50 and $100. AE2600 bill acceptors equipped with the new control board will be able to accept coupons.

Customers that have the MEIZT1200 bill acceptors can receive the software upgrade by either remote flash download or a chip change. Either upgrade will be available for $10 to $20, depending on the quantity of upgrades ordered.

Systems that utilize an MEISeries 3000 bill acceptor (including the RS3800/3900, LE 3800/3900 and EX3900) can also receive a software upgrade by remote flash download at a cost of $10 to $20 per unit depending on the quantity of upgrades ordered.

MEI will offer product trade-in/upgrade opportunities for customers that have Series 3000, ZT1100, AL4, GL5, VFM4 or VFM5 products. Customers can upgrade to the newer AE2800 bill acceptor, getting more future-proof technology and coupon acceptance capabilities in addition to the software upgrade.

The U.S. Treasury BEP was prompted to increase the complexity of the bills in order to deter increasing counterfeiting threats from laser printers.

MEI bill acceptors utilize optical sensing technology rather than magnetic technology, so they can handle new currency designs, the release said. MEI recently completed the extensive update of all its European customer's bill acceptors to accept the new Euro.

"MEI's products are designed to be easily upgraded, and we continually work with the U.S. Treasury to ensure our products will be compatible with new designs," said Fiona Naughton, MEI's manager of global business development.

"Upgrading all products in the field to accept the Euro was a massive undertaking that went very smoothly. We expect the transition to the new U.S. color bills to go as well."