Crane Payment Solutions Launches New Bill Recycler to Reduce Cash Handling Costs in Transport Ticketing
New Bill Recycler
2011/04/11
Toronto - 10th April 2011 – Crane Payment Solutions is launching the Bill-to-Bill 300XE bill recycler, designed to meet the needs of the Fare Collection Transport Ticketing market. The Bill-to-Bill 300XE can reduce the number of visits to Ticket Vending Machines for cash pickup and change replenishment by more than two-thirds, thus dramatically decreasing cash processing costs for Operators. These operational improvements are achieved while at the same time leading to higher rider satisfaction since riders can receive change back in bills rather than a bulk of coins.
The Bill-to-Bill 300XE can recycle up to 300 banknotes (the highest recycling capacity for its product segment in the market) and has a 1,000-note cash box. It can recycle up to 3 different denominations and features “True Closed-Loop Loading”. The “True Closed-Loop Loading” solution of the Bill-to-Bill 300XE ensures replenishment cash being transported between the Revenue Department’s Back-Office and the TVM is fully protected and automatically accounted for end-to-end.
“True Closed Loop Loading” Solution Protects Against Cash Shrink
Recycling cassettes in the bill recycler may periodically need to be replenished with cash through the use of cash loading containers. Locking the cash loading container to restrict access to cash while the container is in transit addresses only part of the problem and offers insufficient protection against fraudulent schemes to cheat the system though the use of creative accounting.
“We know that people become very creative when they handle cash. Whenever humans have access to money, some of it seems to disappear,” said Bassam Estaitieh, Product Manager for the Transportation market at Crane Payment Solutions. “The Operator needs to be protected not only by providing locked cash containers but also by accounting for money at each step of the loading process, including the two endpoints: the Back-Office and the TVM. By offering automatic electronic accounting of cash in the locked loading container, the new Bill-to-Bill 300XE’s loading solution is truly closed-loop.”
A Device Designed for Fare Collection, But Using Proven Technology
The new Bill-to-Bill 300XE Bill Recycler combines technology proven by Crane Payment Solutions (CPS) in other markets that successfully employed bill recycling with CPS’ RFID technology to better protect and track revenue in the cash box. The Bill-to-Bill 300XE is the second-generation bill recycler following on the success of the previous Bill-to-Bill 300 widely deployed in the Off-Street Parking market. The Bill-to-Bill 300 has over 6,000 units deployed in the field today in over 45 currencies worldwide.
“We were the first to introduce bill recycling technology into the Off-Street Parking market with the predecessor to the Bill-to-Bill 300XE about 6 years ago,” said Bassam Estaitieh. Once Parking Operators saw the benefits of cash recycling and the cost savings it accrued them, the technology gained quick acceptance in that market. We are starting to see pent-up interest from Transit Operators around the world to install bill recyclers, and we expect the adoption curve of the Bill-to-Bill 300XE to be nothing short of impressive.”
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Press contact
Bassam Estaitieh
Crane Payment Solutions
2720 Steeles Avenue West
Concord L4K 4S3
+1-905-303-8874 x2478
bestaitieh@craneps.com
http://www.cashcode.com/products/transportation_.html