What The Industry Says

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Banks Cash In on Surging Retailer Demand for 'Smart Safes'

Cash — good, old-fashioned cash — remains the most popular way to pay, even as the industry tries to make transactions fasterphone-based and chip-enabled. And managing greenbacks is a big — and growing — business.

Banks are making a big push to court retailers with large stacks of cash, including fast-food chains, gas stations and big-box stores. Regional banks, in particular, are expanding their "smart safe" business — a niche treasury product that retailers use to sort and remotely deposit dollar bills.

RPT--Hauling cash, replacing cards, fixing ATMs: the stubborn costs banks can't erase

The big U.S. banks are suffering in cash management, like the $1 billion a year it costs Bank of America Corp to shuffle papers around and transport money in armored trucks.

Learn how some banks are getting creative to reduce costs and even generate new income by deploying smart safes in the marketplace.

Watch This Interesting Video About Global Retail Theft

Shrinkage is SERIOUS!

In year 2015, shrinkage costs US$ 123.4 billion to retailers globally with average global retail shrinkage rate is 1.23%.

According to retailers, most incidents of employee theft occur at point of sale (POS).

Retail fraud survey: retailers fear the worst on shrinkage figures

This is one of the key findings of Retail Fraud’s first ever comprehensive survey into the use of retail loss prevention systems, processes and strategies by the UK’s leading retailers.

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