Preparation for The New £1 Coin

Preparation for The New £1 Coin

The new one pound coin is set to be in circulation on 28th March of this year. The big question is, how is this changing our industry and your vending machines? Well it shouldn’t be a big change for you as we will work to make sure the transition between the old and the new is easy as it can be. The new coin is 12 sides, made of two different metals and an image hologram that changes from a £ to a 1 in different angles. The coin also has a hidden high security feature to reduce the risk of counterfeiting in the future, this sets above the old one pound coin as the current coin is being replaced because of the counterfeiting problem being 1 in 30 coins.

So how will we prepare for this change, will we be able to accept the new coins a second past the 28th or will we just accept notes and coins alike. Our machines are focused on being correct for the customer, a refreshingly responsible source for the work day treat we all so desperately need and therefore we take pride in knowing we are ready to fill all machines perfectly and make sure you can pay with anything you have in your pocket. To start to manage this, we are going to look in to how and if we will need to change our coin slots to prepare for the new shape of pounds, making sure we can accept these as soon as possible which is extremely important in our industry as we are a vending company that’s only purpose is to provide a customer first service that fits their needs at a convenience. Refreshingly responsible.

Being a totally honest company Pep wants you to know how and when the new coins will fit with our machines, we are led to believe that the vending machine coin slots just need a simple software upgrade to make sure it accepts the new coin like any other with little problems and inconvenience. Many coin-mech providers update software by hand calibration, which optimizes the data file to individual validators resulting in coin acceptance and making it easier for machine to detect fraud coins. This is then tested with several coins several times to make sure this works effectively and appropriately for the intended purpose. This is more than likely the way the new pound will fit perfectly in to our machines. But as the industry is striving and there are millions of machines around the UK, we’re sure it will take some time for all the machines to accept the new one pound coin.

The new style one pound coin, is elegant, modern and a similarity of the two-pound coin we are all so familiar with. We are moving in to an era of bigger coins that may affect the way we vend in offices, warehouses, schools and hospitality venues. Will the vending industry be able to keep up with the change of money?

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