IMA in Germany saw the launch this week of a new name in the cash-handling sector, CPI, or Crane Payment Innovations.
CPI follows Crane Payment Solutions’ acquisition of MEI in December and the new name is designed to reflect the company’s range of brands, which now includes CashCode, Money Controls, NRI, Telequip and MEI.
IMA effectively provided a “soft launch” for CPI, with the company still involved in the transition process. The company’s next step is to consolidate the sales and technical support teams, products, shipment and billing. MEI’s SC portfolio of products will become a core part of the CPI range, although other products will be evaluated over time. No other product decisions are being made by the company until its completes a “thorough review.”
“The vision for CPI has a very strong value proposition,” said James Boje, vice president of gaming and retail – EMEA. “The brands are complementary – offering the industry’s most comprehensive portfolio of coin and note payment systems. The combined knowledge of CPI allows us to offer customers the personnel, experience and products to find solutions that impact the bottom line.”
Marketing director Andrew Reichlin said the company was “excited for the future.”
“Rome wasn’t built in a day and CPI can’t be what we envision immediately,” he said. “We will stay focused on our customers and, over time, consolidation will drive the progress that we know is possible. Our goal during the transition is to communicate regularly about the evolution to CPI and engage our customers in a way that invites feedback to the process.”
