Innovative Technology, a leading global provider of cash handling technology, will be displaying its latest banknote recycling product, the SMART Payout, at VendItalia next month, as the trend towards cash recycling continues to grow in the vending market.
With average transaction prices continuing to rise, and the impact of the 2014 VAT rate increase still being felt, vending operators are increasingly adopting cash recycling technology to boost profitability, by improving purchase rates and reducing ownership costs.
Innovative Technology’s SMART Payout and NV11+ cash recyclers, enable vending machines to accept a wide range of banknotes, dispensing change with the same banknotes that it accepts for purchases and stores on its recyclers. This improves purchase rates by allowing consumers to use larger denomination bills, and allows vending machines to run for longer, reducing cash handling and operational costs.
The event, which brings over 20,000 operators from the vending industry to Milan, will be Innovative Technology’s first event in the country since opening its Italian office last year.
Innovative Technology’s Business Development Manager, Stefano Mandelli, said: “Vending technology continues to improve and can now provide an unprecedented level of customer interaction and a huge variety of products. These changes have led to a growth in vending machines stocking higher value items, increasing average transaction prices. This trend, combined with last year’s VAT increase, is driving demand for cash recycling technology to help improve profitability.”
With its small footprint, the NV11+ is ideal for a wide range of vending applications and has already been adopted by operators and manufacturers across Europe. We’re confident that the SMART Payout, with its unrivalled mixed denomination banknote recycling, will build on this success as more companies look to reduce machine downtime and improve overall cash efficiency.”
Innovative Technology’s SMART Payout boasts superior banknote recycling and unrivalled mixed denomination banknote recycling for up to 70 notes. A true mixed denomination recycler the unit can store all denominations from a given currency, providing greater flexibility and reducing operating costs.
As well as its cash recycling products Innovative Technology will display its complete range of banknote and coin validation products and its range of low cost coupon and receipt printing products to the Italian market.
Innovative Technology will be at stand B29 during VendItalia at Fiera Milano, Milan from 3rd - 6th May.
