Credit cards, debit cards, electronic ‘purses’, even mobile phones: modern consumers have a bewildering array of hi-tech choices when it comes to paying for purchases both big or small. But despite the range of technology on offer, most shoppers still prefer to pay with cash, and retailers must be able to ensure that cash payments are both efficient for their customers and secure and cost effective for their business.

Cash converges on the retail sector
More and more retailers are branching out into new roles, primarily within banking and post office services. This, in combination with the popularity of cash, has increased cash streams into the retail sector and intensified the need for efficient cash handling solutions.

Different needs - range of solutions
In this very diverse sector, cash processes and volumes vary widely. Small retail outlets, convenience stores, petrol stations and post offices tend to deliver their daily cash takings to the local bank. In contrast, many larger retail stores have installed systems to process and recycle a proportion of the cash flow in-store, in combination with using the services of CIT (Cash-In-Transit) companies.

Cash processing - a competitive issue
If retailers rely partly or entirely on manual processing, cash handling can be labour and cost-intensive. Retailers spend a lot of time-consuming activities keeping their cash flowing through a long processing chain from acceptance, checking for forgeries, change provision and float supply to sorting, counting and reconciliation. Automated cash processing is gaining ground and retailers are continuously reviewing their processes, looking at the checkout, back-office and transportation routines in search of time and cost savings.