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Crane Co. Integrates Payment Companies Into Crane Payment Solutions

by Staff Reporter
Posted On: 10/27/2011

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vending, vending machine, vending machine payment systems, Crane Co., Crane Payment Solutions, Crane Merchandising Systems, CashCode, Money Controls, NRI, National Rejectors Inc., Telequip, POS technology

WILLISTON, SC -- Crane Co. reports that its Crane Payment Solutions now is a group company name under its Crane Merchandising Systems umbrella. Former and separate companies CashCode, Money Controls, NRI (National Rejectors Inc.) and Telequip have become brand names for the group's products. The change became effective in July.

Money Controls, acquired last year, is the latest acquisition by Crane Co. NRI became part of Crane Co. in 1985, and CashCode and Telequip in 2006.

Crane Payment Solutions maintains offices in North and South America, Europe, Australia, Asia and Africa, as well as a worldwide sales, service and distribution network. The organization provides payment systems to more than 75 countries.

The company explained that its formal unification into a single team enables it to combine its diverse skills across the organization to design and deliver high-performance products.

"Our goal to deliver exceptional customer satisfaction is met through better support for more local regions, and a larger engineering group," Crane said. Crane Payment Solutions sales and technical contact personnel now are responsible for all of the group's brands.

Headquartered in St. Louis, with machine production based in Williston, SC, Crane Merchandising Systems is composed of two segments. Payment Solutions, one of them, integrates vending machines, management software and payment systems. The other is Crane Vending Solutions, which manufactures vending machines under the brands National Vendors, Dixie-Narco, Automatic Products, GPL and Stentorfield.

The vending segment also includes Streamware, a business that develops and markets management software.

Crane is one of the world's largest vending machine manufacturers. The Merchandising Systems segment is one of five enterprises held by Stamford, CT-based Crane Co. Aerospace & Electronics, Controls, Engineering Materials and Fluid Handling, the largest, with net sales of $1.02 billion in 2010, round out the 155-year-old industrial concern's varied segments, which together generated $2.2 billion in net sales in 2010.

Merchandising Systems generated $298 million last year. In the recent 2011 third quarter, the vending machine and payment systems segment posted a 28% sales increase. | SEE STORY