Reducing cash handling

October 2011 Security by Industry Sector, Retail (Industry)

The recent Retail Risk conference, held in Johannesburg, highlighted the changes in cash security technology and the shift in cash handling risk accountability from banks to their retail customers. At the conference, Global Payment Technologies (GPT), a national supplier of technical cash handling solutions, presented new security systems that can change the flow of cash within retail centres and protect retailers from the risk of cash in transit (CIT) heists and ATM bombings.

Andries de Kock, sales executive at GPT, says the need for cash recycling solutions for retail centres attracted strong interest at the conference. “The market is changing and we are on the brink of a complete change in how cash flows in South Africa,” he says.

New technologies showcased at the conference displayed the potential for developing closed-loop cash recycling solutions whereby cash can be securely collected, counted, sorted and redistributed on site, without the need to transfer cash to banks. This entirely circumvents the high risk of transporting cash between financial institutions and commercial outlets.

De Kock revealed that GPT is currently piloting a closed-loop cash recycling solution at a shopping mall in Gauteng. The project is delivering highly positive results and the company plans to launch this solution to the market within a few weeks.

Closed-loop cash recycling solutions have the additional benefit of reducing the need for armed security personnel near retail premises and it means fewer weapons in a shopping precinct. These solutions also result in efficiencies which have a measurable return on investment with a positive impact on the bottom line. Furthermore, they can be applied across the entire retail sector, from individual stores to malls and shopping centres or any other institutions that handle cash.

For more information contact Global Payment Technologies, +27 (0)11 997 6600, www.gpt.co.za





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Ten compliance trends in financial institutions
November 2019 , Security Services & Risk Management, Retail (Industry)
Regulatory reporting has grown in profile over the last number of years, with more budget and more employees dedicated to compliance activities than ever before.

Read more...
Coffee by IoT
September 2019 , Retail (Industry)
Costa Coffee selects Eseye to help transform the global retail coffee experience by deploying IOT coffee machines to deliver premium quality drinks.

Read more...
Intelligent queue detection
August 2019, Hikvision South Africa , CCTV, Surveillance & Remote Monitoring, Retail (Industry)
How do you keep waiting times to a minimum, and react quickly to growing checkout lines? Intelligent queue detection technology could be the answer.

Read more...
People counting for retail success
July 2019, Hikvision South Africa , CCTV, Surveillance & Remote Monitoring, Retail (Industry)
How counting the people who enter your mall or store can help you improve customer experiences and boost your revenues.

Read more...
Service station security basics
June 2019 , Associations, Integrated Solutions, Retail (Industry)
It comes as no surprise that the petroleum and retail industries are targeted by criminals as these businesses receive, to a great extent, cash in exchange for their products and services.

Read more...
Using security to enhance the customer experience?
March 2019, Axis Communications SA, Fidelity ADT, Security Software Solutions t/a ISDS , Editor's Choice, CCTV, Surveillance & Remote Monitoring, Integrated Solutions, Security Services & Risk Management, Retail (Industry)
Customer experience will overtake price and product as the key retail brand differentiator by the year 2020. Will the security industry be part of this transformation?

Read more...
Countering the threats of retail ­terrorist vehicle attacks
March 2019 , Editor's Choice, Access Control & Identity Management, Security Services & Risk Management, Retail (Industry)
Bollard systems operate individually or in groups and are aesthetically pleasing and let pedestrians move between them in non-roadway applications.

Read more...
High-speed door solutions are cool
Access & Identity Management Handbook 2019 , Access Control & Identity Management, Retail (Industry)
High-speed roll-up doors from Maxiflex are helping to maintain constant temperatures inside the cold storage and refrigeration areas of Makro Riversands and Makro Springfield.

Read more...
Critical doors under constant surveillance
July 2018, Bosch Building Technologies , Access Control & Identity Management, Retail (Industry)
The Mall of Switzerland implemented a tailored, integrated access control solution for controlling access to restricted areas.

Read more...
Bringing different systems into a cohesive solution
June 2018, Technews Publishing , Retail (Industry), Integrated Solutions
Modern commercial environments no longer have the luxury of treating systems such as security and building management as isolated entities.

Read more...