WEST CHESTER, Pa. -- MEI says that its cash acceptor is being used in 69 Coinstar coin-counting kiosks that have been retrofitted with technology that enables prepaid wireless users to recharge account balances.
Coinstar retrofitted the kiosks as part of a pilot in three test markets: the Sacramento, Calif., Tampa, Fla., and Providence, R.I. areas. The pilot began on Nov. 18.
According to a news release, the machines are equipped with Top-Up™ services provided by Prizm Technology, Inc., and an MEI bill acceptor to enable cash to be used for the purchase of wireless minutes.
(See related story Coinstar enters prepaid wireless fray)
Customers in test markets can use the kiosk's touchscreen to select a wireless carrier, then insert the appropriate amount of currency in $1, $2, $5, $10, $20, $50 or $100 bills. The Coinstar machine then prints out a receipt containing Top-Up confirmation and carrier information.
According to the release, Prizm's Top-Up service links to wireless carriers who represent approximately 80 percent of the prepaid market. Coinstar is using Prizm's ePrizm Back Office System, which includes transaction processing software and back-office support services. In addition to the Coinstar pilot, Prizm markets its Top-Up services via its own network of kiosks.
"We selected Prizm's Top-Up services equipped with an MEI bill acceptor because it was existing technology that would support a fast path to our pilot launch," said Rich Stillman, chief operating officer of Coinstar, in the release.
"Since the Coinstar pilot machines do not presently accept any other form of payment besides cash, it was critical that their system include an extremely reliable cash acceptor," said Otto Lohse, MEI's industry market manager of retail cash management systems, in the release.
Coinstar (NASDAQ: CSTR) owns and operates more than 10,000 supermarket-based machines in the U.S., Canada and the UK.
MEI developed the world's first electronic coin validator in the late 1960s and today, has the largest installed base of unattended payment mechanisms. In 2002, the company reached a milestone of selling more than three million bill acceptors, three million coin changers and one million control boards.
