This coming March, the Royal Mint in the UK will release the new £1 coin and Crane Payment Innovations (CPI) is ready for the change. The new coin will be 12-sided and have a dual-metal design. This new coin will eventually replace the current £1 coin which has been in circulation for over thirty years, and is scheduled to be removed from circulation by October 2017. The current £1 is more vulnerable to counterfeiting with an estimated 1 in every 40 being counterfeit.
CPI coin products throughout the UK can be upgraded to accept the new £1 coin. CPI customers only need to ensure that their coin products are up to date with the latest software. The new £1 update has been available for the full range of products since October of 2016.
Depending on the coin product, customers will either remotely upload the new coin set or physically connect to the device using a handheld programmer. Alternatively you can contact any of the CPI distributors and service centers for a return service.
CPI cash management solutions offers a variety of products for on-street and off-street parking, such as the SCR Advance Note Recycler, MSM note acceptor and a full range of coin validators, hoppers and integration products.
Crane Payment Innovations (CPI) is part of Crane Co., a diversified manufacturer of highly engineered industrial products (NYSE:CR). CPI provides a full range of unattended payment solutions for Gaming, Retail, Transportation, Vending, and Financial Services applications. CPI is built upon the technological heritage and market expertise of the NRI, CashCode, Telequip, Money Controls and, most recently, MEI and Conlux brands.
CPI works in partnership with valued customers to enhance its portfolio of high-quality payment solutions – from coin and bill processing to cashless systems and asset management software.
CPI is headquartered in Malvern, PA with additional offices, manufacturing facilities, distribution and service centers worldwide. The company holds one of the world’s largest installed bases of unattended payment systems. For more information, visit www.CranePI.com.