23 January 2018
visit www.ebaday.com

Wincor Nixdorf to use MEI banknote recycling systems in retail checkout lanes

18 March 2014  |  1527 views  |  0 Source: Wincor Nixdorf

Wincor Nixdorf has extended the payment systems terminals by the MEI Banknote recycling system (BNR). Through this Wincor Nixdorf is able to offer a more scalable solution which can easily be adapted to customer demands.

"The decision by Wincor Nixdorf to specify the MEI BNR reinforces the value that cash recycling offers automated checkout lanes," said Tom Nugent, CPI president - Gaming and Retail. "It is also a testament to the MEI BNR, which has repeatedly demonstrated its ability to deliver on its value proposition in this market space." Crane Payment Innovations (CPI) is part of Crane Co., a diversified manufacturer of highly engineered industrial products, and has used its acquisition of MEI to launch CPI.

The MEI BNR, which is an abbreviation for bank note recycler, utilizes notes collected from customers in previous transactions to dramatically lower a store's cash float while simultaneously offering efficiencies across the entire cash management process. The product's unique architecture - featuring a 600-note cashbox to store notes for bank deposit, a 250-note loader to supply additional quantities of notes that are heavily used and four-denomination recycling - was designed specifically for automated checkout. Retailers consistently have reduced cash float by 90% while minimizing machine downtime to either refill dispensers or remove full cashboxes. And, because the BNR uses notes provided by customers, retailers can streamline back office operations and costs associated with transportation to the bank.   

"Wincor Nixdorf is constantly striving to expand its automated checkout product portfolio to offer our customers the most efficient product," said Mark Brew, Wincor Nixdorf strategic purchasing manager. "The BNR allows us to offer the benefits of four-denomination note recycling technology at an overall unit cost that offers retailers an attractive payback."

"Wincor Nixdorf and MEI will enter into a cooperation centered around the BNR that will result in compact, powerful and economical retail solutions, especially for the North American market," said Gerhard Schiller, Wincor Nixdorf vice president, global head of product line retail automation.

MEI offers a full range of note processing solutions to the Retail market. SC Advance has become the standard product in automated checkout lanes that utilize separate devices to accept and dispense notes. 

"The BNR's success in automated checkout lanes continues MEI's evolution from being a component supplier to a cash management expert," said Tom Nugent. "Retailers continue to notice the positive impact of note recycling on operations from the store to the bank. Due to the costs that have been historically associated with managing cash, retailers are eager to implement MEI technology to define new cash processes and, ultimately, enhance profitability."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.thomsonreuters.infovisit www.capgemini.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9315 views comments | 37 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9164 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8948 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8268 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6909 views comments | 13 tweets | 25 linkedin

Featured job

Find your next job