Banknote Recyclers are Integral to Revenue Control
From time to time PT invites its advertisers to provide information about their company and products. This is one of those articles.
A banknote recycler (BNR) can provide an efficient cash-handling solution for automated revenue collection within the parking industry.
The BNR from MEI Inc. is designed to link its “industry-leading cash-accepting technology” with a two-, three- or four-denomination recycling system. The machine is “field-proven in numerous parking environments around the world to increase profitability,” the company says in a press release.
The modular design and customizable configuration “make it ideal for parking applications that require high-performance, maximum up-time, security and the ability to provide change to customers in four denominations ($1, $5, $10 and $20).”
The Swiss-designed MEI BNR, the company says, has been engineered to provide all of the cash-handling ability of a traditional bill acceptor within a parking kiosk, “but with the added benefit of being able to store accepted bills for use as change for the next customer. This eliminates the need to have a separate and costly bill dispenser for this task.”
Not only does this reduce the number of separate components requiring management and servicing, it also allows for a smaller footprint overall for the parking paystation kiosk, the press release says.
In what the company calls another step forward for parking paystation technology, its four recyclers allow debit card “cash-back” to become a real option for customers. This “emerging trend” is designed to allow those paying with debit cards to have the option to get cash back as part of the transaction, using bills stored inside the BNR.
Desirable for parking customers, this feature also makes best use of the available cash stored within the paystation, the company
says, ensuring that the cash paid by one customer can be put to work for another.
“This also minimizes the number of times that cash collection and counting need to take place, thus reducing costs for the parking operator,” the press release says.
MEI BNR’s modular configuration is designed to enable the machine to be tailored to the exact needs of the paystation designer. Also, it can be supplied in “bill-acceptor mode with multi-note escrow, ready to be upgraded in the field at a future point simply by inserting the correct module.”
Or where cash recycling is already demanded, the MEI BNR can be supplied with up to four recyclers, plus full escrow, and with a variety of cashboxes to suit all needs, the company says.
MEI systems are relied on for more than 2 billion transactions per week in 100-plus countries. The company also says it 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 system.
Today, “MEI has the largest worldwide installed base of unattended payment mechanisms. [It] reached a milestone of selling more than 4 million bill acceptors and
5 million coin mechanisms worldwide,” the press release says.
For more information on MEI and its products, visit
Article Abstract from January, 2013