News

New Cash-Accepting Web-enabled Terminal Kiosk from Prizm Technology, Inc. Offers Retailers a Cost-Efficient Sales Channel

August 13, 2004

Ability to accept cash sited as a "must have" feature for maximizing unattended transactions

WEST CHESTER, Pa., 14 August, 2002 - MEI, the world's leading developer of electronic cash payment systems, announced that its AE2600 and ZT1200 cash acceptors have been integrated into TOP-UP™ terminals/kiosks developed by Prizm Technology, Inc. TOP-UP terminals are unattended kiosks that provide convenient purchase of prepaid cellular and Internet minutes in shopping malls, convenience stores and other high-traffic retail environments. Future versions of TOP-UP terminals will enable cellular phone users to purchase ringtones, graphics and games, and enable any kiosk visitor to pay bills and make wire transfers. Prizm is currently working with major retailers and distributors, and expects to deploy 500 TOP-UP terminals by the end of 2002, and an additional 2000 units in 2003.

TOP-UP terminals are attractive to retailers for several reasons. In a unit that is the size and price of a multimedia payphone, TOP-UP terminals enable retailers to offer today's "in-demand" value-added services cost-effectively. TOP-UP services automate points-of-sale financial transactions through an intelligent client interface and sophisticated back office system. Retailers can lease this equipment as a complete turnkey solution without investing in hardware, proprietary software, or a back office system, and without needing to sign partner agreements with carriers or service providers.

Cash Opens Doors to a Broader Audience

According to Prizm's market research, cash acceptance was a critical requirement of the TOP-UP terminal/kiosk because it enables the 102 million Americans who can't get or don't want a cellular phone plan to purchase pre-paid minutes. The prepaid telephony market has grown to a $6.8 billion industry, and prepaid mobile has been labeled as the fastest-growing segment of the overall U.S. mobile industry. Surveys suggest, however, existing payment plans fail to meet the needs of large segments of the U.S. population.

"Two out of every three U.S. consumers who apply for cellular services are denied because they either have poor credit or are too young to have credit," said Mike Boyle, president of Prizm. "This segment includes students, teenagers, the `unbanked,' and immigrant ethnic groups - people with disposable income that either don't have or may not want credit. Prizm will automate services transactions that cater to each of these groups."

Prizm selected the MEI AE2600 bill acceptor because it was the only product that met Prizm's overall requirements for reliability, maintainability, accuracy and cost. Prizm recently integrated the MEI ZT1200 bill acceptor - which offers features such as high security and high denomination acceptance - that are required to market the TOP-UP terminals internationally.

"We considered several other bill acceptor devices, but quickly settled on MEI," said Tim Sorenson, the Chief Technical Officer of Prizm. "With any unattended kiosk, the primary concern is reliability, because a jam causes the terminal to stop generating revenue. We have not experienced jams nor had any issues with accuracy with MEI bill acceptors. The ZT2000 has also enabled us to accept foreign currencies now to minimize any retrofits or special configurations later. And, as an added bonus, we used MEI's Application Program Interface CD to automate the entire process of integrating the bill acceptor into the TOP-UP terminal."

About Prizm Technology

Prizm Technology, Inc., based in Sarasota, Florida, intends to become the leader in providing public access to automated transactions, leveraging widely accessible web-enabled technologies to increase availability of these services to consumers in a self-service environment. Visit Prizm at www.top-up.biz.

About MEI

MEI is 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 for kiosks, visit www.meiglobal.com/kiosks; or call 1-800-345-8215 x2510.