Crane has used its acquisition of MEI to officially launch Crane Payment Innovations, or CPI.
“We’re building a new, integrated business that will combine the strengths of MEI and Crane Payment Solutions,” said Mike Hayes, CPI president. “Our goal is to earn our customers’ business every day.”
Crane originally announced its intent to acquire MEI in December 2012. The acquisition was completed a year later in December 2013 after two CPS products were divested at the request of the European Commission.
“It’s exciting to think about what CPI will be able to offer customers,” said Tom Nugent, CPI president of gaming and retail. “Our challenge, in the immediate future, is to temper the enthusiasm of what can be with the realism of what needs to happen to provide the level of service customers have associated with these brands.
“The realisation of our vision for CPI will be dependent upon collaboration with our loyal customer base. We are embarking upon a journey that will require focus and patience – but one that promises to deliver an unmatched set of products and resources to raise expectations for payment systems.”
Moving forward, the entity will begin to take shape as corporate and customer-facing functions are consolidated. CPS and MEI are to act as separate companies in a “business as usual” state until core functions can be assimilated in a manner that is seamless to customers.
