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OKI Delivers RG7 Currency Exchanger to Travelex, the World's Leading Foreign Exchange Solutions Provider

OKI (TOKYO:6703) today announced the delivery to Travelex Japan, one of the largest stores specializing in currency exchange, of its RG7 Currency Exchanger, a currency exchange machine capable of simultaneously recycling deposits and withdrawals between Japanese yen and multiple foreign currencies. Travelex plans to start operations early February. OKI anticipates sales of more than 100 units to Travelex Japan over the next three years.

Travelex Japan was established in March 2003 as part of the Travelex Group, which operates a network of 1,100 locations at international airports and major cities in more than 25 countries. The company currently operates more than 70 stores in Japan, with more to come. To make it faster and more convenient to exchange currency and thereby attract more customers, Travelex Japan had explored the idea of introducing an automated currency exchange machine that quickly and conveniently exchanges multiple currencies and denominations without requiring customers to queue up at currency exchange counters.

Currency exchange counters serve individuals with diverse needs, including customers who are in no particular rush and require a clerk to provide information on amounts and denominations and customers who simply want the fastest transaction possible. Conventional manned exchange counters often lose business opportunities with the latter group.

By giving customers a choice between immediate service and consultations with clerks, the RG7 Currency Exchanger responds to this range of customer needs, boosting customer convenience and adding to sales leads by capturing opportunities that would otherwise be lost. The device also accelerates the pace of transactions and reduces errors attributable to manual operations.

By introducing the RG7 Currency Exchanger to Travelex Japan, OKI is automating exchange tasks that used to be handled manually. This enhances customer service and accelerates the pace of foreign currency exchange transactions. Beyond this proposal, Travelex Japan has given high marks to the fast-selling ATM-Recycler G7, the developmental basis for the RG7 Currency Exchanger, as well as the reliability provided by OKI in the Japanese ATM market.

Moving forward, in addition to future sales of the RG7 Currency Exchange to Travelex Japan, OKI plans to expand sales of its RG7 Currency Exchanger to the Travelex Group's overseas locations.

About Travelex Japan
Company: Travelex Japan
Address: 6F, Orix Akasaka 2 Chome Building, 2-9-11 Akasaka, Minato-ku, Tokyo
President: Yasushi Nakajima
Business: Foreign currency exchange and related services; sales and issue of prepaid cards (cash passports).
URL: http://www.travelex.co.jp/JP/Home/

About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's leading telecommunications manufacturer in the info-telecom field. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its info-telecom systems and printer operations. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at http://www.oki.com/.

Notes:

  • The names of the companies and products mentioned in this document are the trademarks or registered trademarks of the respective companies and organizations.

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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