Innovative Technology launches state of the art banknote recycling technology at VendItalia

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 reducingownership 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 banknotesthat it accepts for purchasesand stores on its recyclers.This improvespurchase rates by allowing consumers to use larger denomination bills, and allows vending machines to run for longer, reducing cash handling and operational 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 banknotesthat it accepts for purchasesand stores on its recyclers.This improvespurchase 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 technologyto help improve profitability.”

With its small footprint, the NV11+ is ideal for a wide range of vending applications and has alreadybeen 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.”