News

MEI to Help Retailers Transition Kiosks and Unattended Sytems to Accept the new Color $20

July 30, 2003

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MEI announces plans to support new currency design

scheduled for release in September/October 2003

WEST CHESTER, Pa., 30 July, 2003 - MEI, the world's leading 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, MEI is offering customers several options to upgrade their bill acceptors in the field so that they will recognize and accept the new $20 immediately upon release by the U.S. Treasury. 

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 the software upgrade by remote FLASH download at a cost of $10-20 per unit. However, customers that have the AE2600 may prefer to "future-proof" their bill acceptor at this time with a control board trade-in. The new control board - available for approximately $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. In addition, AE2600 bill acceptors equipped with the new control board will be able to accept coupons.

Customers that have MEIZT 1200 bill acceptors can receive the software upgrade by either remote FLASH download or a chip change, whichever is more convenient. Either upgrade will be available for $10-$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 - $20 per unit depending on the quantity of upgrades ordered. 

In addition to the flash download upgrade and control board upgrade promotions, MEI will also 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 acceptors, getting more future-proof technology and coupon acceptance capabilities in addition to the software upgrade.

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The U.S. Treasury BEP was prompted to increase the complexity of the bills in order to deter increasing counterfeiting threats from laser printers. The newly re-designed bills will be safer, smarter and more secure, with colors and other enhanced optical security features. Because MEI bill acceptors utilize optical sensing technology rather than magnetic technology, they 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 and provides customers with future-ready technology. 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," saidFiona Naughton, MEI's 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 newU.S.color bills to go as well." 

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/kiosks or call 1-800-345-8215 x2510.

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Editors' note: A high resolution photo print is available upon request.

Contact:         Chris Henneghan, PR Consultant for MEI