While it looks like a serial port, it is actually a connection for external peripheral devices such as the cutter, an applicator, or PLC unit connection.
How to Install the Auto-Cutter for the BP-PR+ Printer Series
1.) First remove the face plate below the LCD screen on your printer.
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2.) Next, remove the tear-bar place below the mouth/roller of your printer.
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3.) Align the cutter up with the connector on the printer and press the cutter firmly into place.
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4.) Tighten the knob on the lower left corner of the cutter to secure into place. Now power on your printer and your cutter should be ready to use.
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Please see the attached document for same instructions and download.