MEI Launches Industry’s First 4-in-1 Payment Acceptor
Single device accepts cash, cards, coupons and contactless payments
WEST CHESTER, Pa., November 3, 2008 – Offering customers payment choices can trigger sales lifts of 15 percent, but until now the high cost of integrating multiple payment components has been prohibitive to vending operators. MEI has launched its MEI® Series 2000 4-in-1 validator to accept cash, card, contactless payments and coupons in a single unit that can retrofit into operators’ installed base of machines.
The MEI 4-in-1 validator is the first electronic payment system that combines all major types of payment acceptance into a single device. Consumers can choose to pay with cash, traditional swipe credit/debit cards, MEI coupons or contactless payment devices. Contactless payment usage is growing, with Aberdeen Research Group estimating that by 2011 there will be 109 million contactless cards in the U.S. market.
“Payment preference is difficult to predict, and it varies widely among people, types of purchases, geographies and even time of day,” said Chuck Reed, vending channel marketing director for MEI. “Offering multiple options keeps customers from walking away from a sale and attracts sales previously lost to c-stores. The MEI 4-in-1 validator provides an economic means of doing just that.”
The product has received accolades from beta test customers for its modern styling and bright LEDs that help attract buyers to the machine.
Product features include:
- Industry-leading MEI Series 2000 bill validator technology with more than two million units sold
- Compatibility with existing payment systems, MDB/DEX and MEI EASITRAX remote data port or equivalent
- Easy visibility with high-contrast, two-line display
- Ability to fit existing mountings where MEI Series 2000 bill validators are used
- Self-cleaning, swipe-style credit card reader that resists debris and coin insertion
MEI, headquartered in West Chester, Pa., holds the world’s largest installed base of unattended payment systems, handling over two billion transactions per week in more than 100 countries. The company developed the first electronic coin mechanism in the 1960s, followed by the first electronic non-contact bill acceptor, and more recently its credit card capability and vending management solution. Recently, MEI reached a milestone of selling more than four million bill acceptors and five million coin mechanisms worldwide. Its products are in widespread use in the vending, soft drink, gaming, amusement, transport, retail and kiosk markets. For more information on MEI and its products, visit www.meigroup.com or call 800-345-8215.