Replay Magazine Features MEI in their July Issue
MEI, the global payment technology company with a heritage of innovation and performance, will announce this summer the sale of its three millionth Series 2000 bill validator.
What does it mean for amusement operators that MEI develops and produces payment system solutions and is a market leader in five different industries? By leveraging the development of state-of-the-art technology across the gaming, transportation, retail, vending, and amusement industries, MEI is able to deliver innovative products at competitive prices.
“The size and global nature of MEI gives us the ability to see trends around the world, develop technology and apply it in products that address the needs of the local market operator,” said MEI exec VP Jeff Jordan. “The measure of our success is that these products drive a higher ROI for operators in every industry in which we compete.”
The amusement community, in turn, has reaped the rewards of product development from other markets. Launched in 1994, the Series 2000 validators are the workhorse of both the amusement and vending industries. They continue to provide long term value for both industries. MEI AE bill validators have earned their reputation in the amusement industry by delivering high reliability in even the most extreme conditions.
Mike Finfrock of Orange County Games, an amusement operator in California, has been using MEI products since his company began business over 20 years ago. “When I install an MEI product, I know it’s one less thing I have to worry about. I receive very few MEI-related service calls,” affirmed Finfrock.
“Our validators have the high durability and long life that operators require and have come to expect over the years. The ability to take bills in any condition, from the wet bar to the crinkled pocket bill, sets MEI above the competition,” said Chris Felix, MEI amusement manager. “When asked how to improve our product, operators have told us year in year out, ‘It works. Don’t change it.’ It’s been the industry standard for years.”
Currently, the products within the series includes the AE 2400, which accepts $1, $2, and $5; the AE 2600, which also takes $10 and $20; and the AE 2800, which accepts all bills up to and including $100.
Felix sees more and more amusement operators turning to MEI validators to make an impact on their bottom line. Operators can typically expect to see 20 to 30 percent additional revenue for at least five years after an acceptor is paid for without incurring any additional expense, MEI asserts.
Even with the success of the Series 2000, MEI continues to strive for innovation to meet the demands of their customers. In the past 12 months, MEI has introduced two revolutionary new products to the Series 2000 line, the MEI 12V Battery Validator and the Series 2000 Cashflow VNR, recipient of the AMOA Innovator Award.
These product announcements follow on the heels of the 4-in-1 Validator’s release in late 2007. Also an AMOA Innovator Award winner, the 4-in-1 Validator combines with the 12v Validator and VNR to increase the strength of the MEI portfolio. These product introductions are sure to continue to generate some real thrills for amusement operators.
The MEI 12v battery series validator, ideal for pool table operators, is available in AE2400 and AE2600 configurations. The unit will operate in sleep mode, while not in use, resulting in a significant reduction in power consumption for battery-powered applications. The Instant-On wake-up circuit provides a fast wake-up time of less than 0.5 seconds (compared to 1.5 seconds of competitors) from sleep mode to bill accept, and low power sleep current of 60 u A (1/2 the competitive requirement), both unsurpassed in the industry.
The MEI Cashflow VNR (bank note recycler) accepts $1, $5, $10 and $20 bills, and recycles either $1 or $5 bills for use as change for future purchases. The product features a high-visibility bezel that easily indicates to consumers which denominations are accepted using bright, low-powered LEDs. This bezel can be replaced with the MEI 4-in-1 Bezel to enable the Cashflow to accept credit, debit and contactless payments in addition to recycling bills. The VNR makes a great addition to a coin changer by giving customers a $5 bill instead of a pocketful of quarters for their $20 bill, without the added expense of a standalone bill breaker.
The 4-in-1 Validator adds the capability of contactless technology to traditional swipe credit/debit card, bill and coupon acceptance. This integration of transaction methods in one product offers consumers the broadest choice in payment options. The MEI bezel must be connected to an additional device for processing credit cards.
Looking ahead, Jordan says amusement operators can expect more of the same from MEI, especially as the company continues to build market share in venues that demand innovation at the highest level. For instance, MEI has built a strong presence in the casino industry since its launch of the Cashflow SC product line. This product line has already sold one million units and features industry leading bill acceptance, batch note feeding and embedded RFID technology for security tracking.
It’s not inconceivable that these same technology enhancements may make their way to the future amusement product portfolio, as articulated by Jordan in his concluding comments. “We are a strong company, with a deep commitment to all the customers in the industries we serve,” he said. “We will continue to lead and invest in the amusement industry to help operators achieve more revenue and higher profits per location by providing highly reliable products and new innovations that enable patrons to use alternative forms of payment.”
To learn more about the company, log on to its global website at www.meigroup.com.
See the July issue of Replay online at http://www.replaymag.com/