What are your goals and challenges at the point of sale? Do you have issues managing cash? Or issues with cash shrinkage? Maybe you struggle because of setbacks from rising labor rates, finding qualified labor, and managing operational costs. At APG Cash Drawer, we understand your cash management challenges.
The minutes and hours spent physically counting and moving cash is inefficient. This creates bottlenecks at the Point of Sale, which affects customer service, causes walk-outs and hurts your bottom line. At the end of the day, more often than not, the till count rarely matches the expected revenue.
With all the activities going on in a store it can be difficult to focus
on and resolve the cause of cash discrepancies. But what if you had the data necessary to give you full cash visibility at the POS? What if you could account for all the cash in your store from the time of tender to the time credit is made to the bank?
We have a solution for you: the SMARTtill® Cash Management Solution.
Retail payments are changing, yet there is still $1.5 trillion, €2.1 trillion and £216 billion in cash circulating the U.S., EU and British markets. In fact, cash represents between 30 to 45% of all global transactions.1 Although there has been a rise of electronic payments, cash is still the most commonly used payment method in the world.2 In the U.S., cash accounts for roughly 40% of all transactions and up to two thirds of purchases less than $10.3 The U.S. Federal Reserve predicts that cash will grow an average of 1.7% per year from 2012 to 2022.4
Despite the growing popularity of electronic payments and a preference by many consumers for payments with plastic, cash isn’t going away any time soon. Millennials use cash five times more than mobile payment platforms. About 55% of small businesses prefer cash transactions, refusing to accept payments in plastic so they don’t have to pay credit card fees.5 The San Francisco Federal Reserve Bank Report stated that over seven in ten people use cash for in-store purchases. Among different cash spending categories, food and personal care supplies account for 52% of cash transactions.6
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