An interview with Chuck Reed, Director, Marketing and Sales at MEI
Why was bill recycling developed?
On average consumers do not carry exact change; most carry one or two dollars in coin and bills and then a five and a twenty dollar bill. The consumer has alternatives with convenience stores and so they change their behavior. If a vendor does nothing more than enabling $5 dollar bill acceptance it can save sales up to 10-15% and it goes up if they enable higher bill denominations.
What has MEI’s experience been working with operators?
Operators have not seen fraud to increase after installing bill recyclers. They have seen sales across a wide specturm of placements increase by 10-20%. Bill recyclers also enable operators to win new accounts. Bill breakers go away.
What locations benefit the most from bill recycling?
Locations where consumers are not coming on a daily basis with exact change.
Listen to the interview: