WEST CHESTER, Pa., April 11, 2008 – Cash transactions cost retailers far less than the average two percent fee incurred from signature debit and credit transactions. MEI has released a new toolkit that makes it easier for retailers to accept cash transactions in their kiosks and self-checkout systems. MEI designed the Point of Service Toolkit (MPOST) – an industry first – to reduce the integration time of bill validators by at least 50 percent.
Integrating a bill validator using an MPOST toolkit and a USB interface is now as easy as integrating a card reader — a plug-and-play approach. The toolkit includes a flash download capability, an easy-to-use-library, advanced error handling, automatic device and currency detection and configuration, unit auditing and test and demo programs.
“MPOST reduces the costs and technical challenges of introducing cash acceptors into a self-service system,” said Dave McLaughlin, engineering director for MEI's retail channel. “Cash has been shown to increase the revenue of self service devices, and we have developed this software tool to ease integration and help retailers realize the full benefits of their self service units.”
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 four million bill acceptors and five 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 800-345-8215.