WEST CHESTER, PA -- MEI reports that the three millionth Series 2000 VN/AE bill validator and millionth Cashflow 7000 coin manager have just rolled off the production lines at its plant in El Marqués, Querétaro, Mexico. Both money validation systems target the vending and amusement industries.
The first VN/AE bill validator's core technology was developed in 1994, and has since served as the foundation for a series of modular extensions that increase its versatility. The apparatus can recognize and validate U.S. banknotes, as well as MEI coupons. In 2008, MEI introduced the 4-in-1 bezel, which adds the ability to read contactless (RFID) and magnetic-stripe cards.
A year later, MEI further expanded the possibilities of the system by unveiling 12V. continuous and 12V. battery-powered versions for the amusement and specialty markets, and taking the wraps off the VN2700 model and the matching VN2700R banknote recycling module, enabling operators to convert equipment in the field to pay back small-denomination banknotes in change.
The popular Cashflow 7000 Coin Manager was introduced in 2003, creating a new category of intelligent payment systems with its ability to read and record the level of coins in each of its tubes, and to act on this information by selectively diverting coins paid into the machine into a change tube that requires replenishment. Thus, it actively manages the change fund to reduce the frequency of exact change situations, contributing to a positive consumer experience and higher sales.
The ability to determine the amount of coin in each tube enables the Coin Manager to account for all the money in the machine. It also offers sophisticated self-diagnostic features, and is designed to allow a route driver to clear debris quickly from the coin path.
MEI recently reached another milestone by selling more than five million bill validators and six million coin mechanisms worldwide. MEI payment systems handle more than two billion transactions a week in more than 100 nations.
"We reached these milestones because we have earned the confidence of our customers through quality, innovation and an unrelenting focus on reliability," said MEI executive vice-president Jeff Jordan.