The new pound coin and the impact it has on our business

CPM has had to embark on a complete change of coin validators in respect to the new pound coin being introduced in March this year.

At first glance one may believe the change to a new pound coin is simple however, to make all the pay and display machines up and down the country accept both the old and the new pound coins it has been necessary to have all the coin validators removed and sent away for reprogramming. This involves having to buy extra validators, have them upgraded to accept the new pound coin and then systematically change out two or three sites at a time. Once this has been done the validators that were removed are then sent away for reprogramming and the whole thing starts again.

With Pay and Display machines scattered as far as Edinburgh in the North, Wadebridge Cornwall in the South and Larne in Northern Ireland, you can imagine this has not been easy or inexpensive exercise.

We are on target to complete all site by March 2017 but as the old pound coin will be taken out of circulation by October 2017 it would seem we will have to visit all sites again to switch off that part of the programme.

In reflection it would seem that other than the financial burden of changing validators on companies that earn their living accepting coins through vending machines the real cost is in time and labour.

We haven’t tallied the cost in fuel, labour and planning of this exercise but we know it was expensive. We do feel that should the government wish to do this again then maybe they should recompense all such companies conducting the changes that they demand.