The Azkoyen Group continues innovating in order to remain among the most secure automatic cash handling machines when it comes to coin and banknote fraud, according to the European Central Bank
November 04, 2021 at 09:22 am
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Cashlogy POS 1500, the solution that optimises the cash management process, incorporates the new, state-of-the-art Pina coin sensor
A solution that passes all ECB anti-fraud tests and is confirmed as one of the most fraud-proof solutions.
the Azkoyen Group, a leading Spanish technology multinational, has been included in the list which the European Central Bank (ECB) compiles to assess the efficiency of payment service provider machines, thanks to its Cashlogy POS 1500 model, the top of the range of the Cashlogy series developed by the company. The technology has passed the ECB's latest anti-fraud tests for both coin and banknote authentication devices, which the ECB carries out to protect the euro against counterfeiting. This certification means that this is one of the safest devices in Europe.
This is a solution that automates the cash process at the point of sale, optimising its management by reducing the time it takes to open and close the till, as well as minimising losses due to cash mistakes or fraud involving counterfeit coins and banknotes.
New Pina sensor module, innovation and reliability against fraud
As a new feature, Cashlogy adds the new Pina multi-frequency sensor module, launched by the Payment Technologies division of the Azkoyen Group, a benchmark in the European payment methods sector. This includes two new patents for the coin recognition and validation process, as well as a new, much faster and more powerful micro-controller that allows for more readings and higher accuracy during coin feed. It also features a new edge sensor to analyse the most complex coins for interference or fraud.
Security is more important than ever because, according to the European Central Bank, around 460,000 counterfeit euro banknotes were withdrawn from circulation in 2020. The €20 and €50 banknotes continued to be the most counterfeited banknotes, together accounting for around two thirds of the total.
In this respect, the company is constantly working to innovate and improve its coin and banknote recognition systems in order to provide peace of mind to the various businesses with regard to fraud and cash balancing. Proof of this is that the group allocates 15% of its workforce to R&D and invests more than 10 million euros a year in innovation so as to offer the best solutions to help its customers.
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Azkoyen SA published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 09:21:09 UTC.
Azkoyen SA is a Spain-based company primarily engaged in the manufacture of vending machines. The Companyâs activities are divided into three business segments: Vending Machines, which focuses on the production and sale of vending machines for tobacco, coffee, cold and hot drinks, as well as snacks; Payment Systems, which is responsible for the design, manufacture and marketing of solutions for cash management, connectivity and cashless systems, such as automatic coin selection, counting and returning, as well as credit card readers, and Technology and Security Systems, which offers software and hardware for access control and time recording. The Company distributes products under various brand names, such as Azkoyen, Coffetek, Azkoyen Payment Technologies, Coges and Cashlogy, as well as primion. It operates numerous subsidiaries in Europe and Latin America.
The Azkoyen Group continues innovating in order to remain among the most secure automatic cash handling machines when it comes to coin and banknote fraud, according to the European Central Bank