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A "Banknote Acceptor", also known as a bill validator, bill acceptor or paper currency detector scan paper currency using optical and magnetic sensors. Upon validation, the bill validator will inform the vending machine controller (VMC) or other host device of a credit via a parallel or serial interface. Various interfaces exist for the host device, including a single-line pulse interface, a multie-line parallel interface, a multi-line binary interface, and serial interfaces such as ccTalk, SSP, and MDB. Wrinkled or creased bills can cause these machines to reject thme.

Bill validator, bill acceptor or paper currency detector use several different techinques to check whether a bill is geniune. Adjusting these settings and the sensitivity of each is programmed via dip switches on the internal circuitry.

Currently there are only a handful of companies that manufacture this equipment.Crane Payment Innovations (joining Crane Payment Solutions and MEI), and Japan Cash Machine (JCM) are two of the largest, each maintaining dominance in a particular market segment. Other notable companies producing this type of equipment include Coinco, International Currency Technologies (ICT), Alpha CMS (Cash Management Solutions), Astrosystems, Money Controls, Pyramid Technologies, Validation Technologies International (VTI), Innovative Technology Ltd (ITL), Global Payment Technologies (GPT) and Jofemar. Recent innovations include remote auditing and reporting by these devices as part of an Automated Cash Handling network for amusement, banking, retail, casino and other industries.