Arguably the hottest area of the cash automation industry and certainly the one poised to deliver the most benefits industry wide, is Retail. In our recent post Automated Cash Handling – Case #1 we presented recent research and commentary regarding the status of and future trends for Retail automated cash handling. The final point made by the writer, was this…
Ultimately, retailers can benefit from closing the in-store cash cycle, completely eliminating manual handling of cash, however, the future vision of a fully-closed cash cycle between banks, CIT companies and retailers is still far from becoming a reality
Recent personal research into the area of Retail automated cash handling solutions reveals many products targeted at this area, with few offering full customer interaction options that effectively remove the retail staff from handling cash transactions. Companies like ARCA, Wincor Nixdorf, NCR and TritonÂ – to name but a very few – all offer some form of Retail automated cash handling solution and all are viable contenders in one or more application scenarios.
Imagine the advantage to all levels of the currency supply chain, if Retailers could be relied upon to remove poor quality cash from circulation, mark it as such and deposit it to their financial institution? The remainder could either be repatriated to the public as change and cash withdrawals or deposited as good quality should there be excess residual in various denominations. The retailer could receive provisional credit from their Bank and the Bank or CIT could schedule “on-demand” when timing and/or excess stock/replenishment are required. All of these actions could beÂ taken at theÂ denominational banknote and/or coin level.
Given the above statement of fantasy and the confirmation as such in our inaugural article, it is interesting to note the rise of some second generation Retail automated cash handling solutions companies. One such newcomer is Cashphenix, a collaboration of international currency handling specialists with experiences in multiple regions of the globe. Cashphenix International LLC offersÂ a simple, solid and affordable cash and coin recycling and deposit technology, which accumulates 40 years of experience in relatedÂ automated cash handling technologies and regionalÂ currency industryÂ requirements.
Cashphenix hasÂ combined the latest in Computer technology, electro-mechanical automation and modern component materials with extensiveÂ knowledge of global cash management processes. Cashphenix provides automated cash handling solutions for Retail Banking and commercial Retailers that areÂ easy to use and require minimal technical support. ModernÂ manufacturing results in a simple device, which is extremely cost-effective and requiresÂ very little capital investment. Cashphenix solutionsÂ include over 20 patents that are registered in 42 countries. CashphenixÂ offers the global banking and retail industriesÂ cash recycling and cash deposit solutions that areÂ secure,Â effective and truly affordable for Retailers, CIT companies, Banks and Independent Financial Services companies.