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,

Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

The right security solution removes the opportunity
Asset Management Retail (Industry)
South African retailers are facing a multitude of challenges, including economic fluctuations, changing consumer behaviour, increased competition, supply chain disruptions, regulatory changes and the need to adapt to digital transformation, not to mention theft.

Personnel changes at G4S and Deposita
Deposita News & Events Security Services & Risk Management Retail (Industry)
Over the past 36 months, there has been significant volatility across markets and sectors worldwide. In response to these market fluctuations, cash has become an increasingly important payment instrument.

Stop any unwanted vehicles
BoomGate Systems Access Control & Identity Management Retail (Industry) Products & Solutions
Boomgate Systems was recently tasked to secure a wine distribution facility in Midrand. The requirement from the client was quite clear; stop any unwanted vehicles.

Accommodating the 86% of consumers who use cash
Security Services & Risk Management Retail (Industry)
With research showing that only 14% of South African consumers are ready to go completely cashless, retailers should be looking at ways to accommodate their customers’ preferred way to pay, while also reducing their operating costs.

Be aware of privacy and cybercrimes issues
Security Services & Risk Management Information Security Retail (Industry)
Artificial intelligence (AI) is being deployed to help shoppers make better choices, but retailers must be aware of their obligations under personal privacy and cybercrimes laws.

Heat mapping for retail optimisation
LD Africa Surveillance Retail (Industry)
With built-in statistical behaviour analysis, the objective of Milesight Heat Map is to introduce advanced technology that empowers beyond security.

What just happened?
Editor's Choice Security Services & Risk Management Retail (Industry)
Adriaan Bosch, head of Loss Prevention, Corporate Security at PEP Stores, talks about how intelligence, preparation and ensuring the flow of accurate information helped PEP Stores recover quickly from attacks on 283 stores.

The supply chain of the future
Integrated Solutions Security Services & Risk Management Retail (Industry)
For retailers to maximise their bottom line, the supply chain needs to be fast, efficient and responsive, which requires the use of intelligent, integrated technology.

AI surveillance protects valuable stock
Dahua Technology South Africa Surveillance Retail (Industry)
Hyundai Somerset West branch store equipped with AI-enabled Dahua WizMind surveillance solution to keep valuable stock safe 24 hours per day.

Ten compliance trends in financial institutions
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.