Jofemar Readies Validator Update For November €20 Bills Debut

PERALTA, Spain -- Jofemar Corp. reports that it has signed a memorandum of understanding with the European Central Bank to ensure that its bill validators and vending machines will be compatible with the European Union's new €20 banknote. The note, third in the new Europa design, is set to enter circulation on Nov. 25.

As a participating member of the European Central Bank, Jofemar, a manufacturer of vending equipment and payment systems, received samples of the new banknotes in February. This has enabled the company to update the parameters for their recognition prior to their launch. All new readers and machines made from April 2015 forward will recognize the note.

A strong cooperation with the ECB and Jofemar's R&D effort have achieved an effective and fast adaptation of the banknote readers, said Jofemar R&D director Miguel Ã_x0081_ngel Garcés. By using the available USB connector on Jofemar's BT11 model, the time required to update the programs and patterns stored in the reader with the EasyNote tool has been substantially shortened, Garcés explained.

As part of the adaptation process, Jofemar has provided its network with the technical tools and data required to reprogram its banknote readers. These tools are available now, so the update can be done without waiting for the new banknote to circulate. The process takes just a few minutes and does not require removing the reader from its vending machine. After the update, the reader can identify and accept both existing and new €20 bills.

Jofemar noted that it regards innovation as the driving force for development and growth. It invests between 6% and 9% of its annual turnover in R&D, which has allowed it to position itself as an expert in complex "mechatronic" systems and a vending industry leader.

Jofemar, founded in 1971, opened its U.S. office in 2000 and has commercial subsidiaries in France, England and Brazil.

FAST UPDATE:Jofemar BT-11 bill validator can be reprogrammed to recognize second-generation European €20 banknote in advance of the new bill's rollout in November. The update is quickly accomplished with the EasyNote device (r.), and enables the BT-11 to handle old and new €20 designs.