Geared to Retailers and Other Cash-intensive Businesses; Goal of
Product Is to
CASH360 encompasses the entire spectrum of services for cash automation needs, including hardware, software, armored carrier, cash ordering, reporting, and facilitation of same-day provisional credit to a
“CASH360 is a holistic technology solution that changes the whole dynamic of trapped cash in stores,” said
Currently, in-store management of cash, coins and checks can present major challenges for retailers. In many stores, staff manually count, recount, process and secure cash. Retailers also have to manage armored carrier relationships or arrange for physical transportation of daily receipts to a local bank branch. All of these tasks can be expensive, time-consuming and possibly susceptible to error and loss. Furthermore, when cash idly sits in registers or in cash rooms, it is unavailable for other uses, which could include such purposes as investment, expansion or debt repayment, thereby negatively impacting a retailer’s working capital position.
“We are in discussions with many of America’s leading retailers about the benefits of an improved and enhanced approach to the management of cash, coins and checks,” said Gardner. “These conversations are taking on heightened urgency given the expectation that in the coming years, the value of cash payments in the U.S. are expected to rise further.”
With CASH360, the manual counting of bills and coins is eliminated through the use of a smart recycler, enabling staff to focus on sales and customer service. All transactions are receipted and recorded to provide a full audit trail by cashier or register, improving reporting and cash visibility while potentially reducing losses. The recycler communicates the cash total to the bank every day, facilitating same day provisional credits to be made to the clients’ accounts at