While electronic payments like mobile and virtual currency tend to dominate contemporary payment discussions, cash is still the dominant form of currency for most consumers worldwide, accounting for 85% of all global retail transactions.
But the challenge for retailers – from large hypermarkets through to small convenience stores – is making the cash process streamlined and more efficient, as well as a more satisfying experience for the customer. To understand the importance of cash to global shoppers, Glory commissioned a research study among UK, US and Australian consumers.
The Cash Connection Report:
61% trust cash over making mobile transactions, with just 18% trusting other forms of electronic payment over cash.
56% use cash now just as much or more as they did a year ago.
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"We would spend 30-40 minutes on a daily basis counting a deposit to send it to the bank – this is something we don’t have to do anymore” – Kristi Tennill, Accounting Manager, Hyvee Inc.
“Our cash handling processes were reduced by two hours a day. Previously, we performed five cash balances and now its just one, bringing cost savings and improvements in security, staff productivity and customer service.”– Anna Beltrán, Owner, Farmacia Gran Vía
Cash technology solutions for the entire retail cash chain: at the point of sale, the cash office, across the store and to the bank.
CASHINFINITY™ solutions from GLORY.
