WEST CHESTER, Pa., February 4, 2008 – MEI, the world’s leading developer of unattended payment systems, has appointed Ian McCormick to the newly-created position of Executive Vice President - Retail. McCormick will lead the Retail channel with responsibility for overall P&L, product development, marketing, sales and service worldwide. He will be based at the company’s headquarters in West Chester, Pa., and report directly to CEO Mike Hayes.
Ian McCormick’s appointment is part of MEI’s initiative to continue its success in Retail and extend its payment technologies into new banking and financial service applications.
“Retail and Banking are exciting areas of growth for us and we are committed to developing new products and services for these sectors” said Mike Hayes, CEO of MEI. “Ian brings to MEI a wealth of experience and a track record of success. We are excited to add his leadership skills to our senior management team.
Ian McCormick comes to MEI with over 17 years of international leadership in the Payment Management market place. Previous roles include 6 years with De La Rue, one of the World’s foremost payment solution providers, where he was responsible for the company’s Retail Payments business. Prior to De La Rue McCormick spent 8 years with Money Controls.
MEI’s Retail Channel provides cash payment solution systems to OEMs, developers and integrators for retail cash safes, kiosks, self-service checkout systems and other automated payment terminals.
MEI, headquartered in West Chester, Pa., holds the world’s largest installed base of unattended payment systems, handling over 2 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 4 million bill acceptors and 5 million coin mechanisms worldwide. Its products are in widespread use in the vending, soft drink, gaming, amusement, transportation, retail, and kiosk markets. For more information on MEI and its products, visit www.meigroup.com or call 1-800-345-8215.