Cash plays a crucial role in retail payments. The European Payments Council state that cash is still the first method of retail payment in several European countries, though its share among retail payments is decreasing. Despite this, the UK witnessed a notable surge in the total number of cash payments in 2022. £6.4 billion GBP was spent, compared to the previous year's £6 billion, ...

Efficient cash management is paramount to sustaining a business’s profitability and ensuring operations run smoothly. As companies strive to enhance accuracy, reduce costs, and increase security, cash automation has emerged as the go-to solution. This article delves into the essentials of cash automation - exploring how technological advances can streamline traditionally laborious cash processes such as counting and sorting to transform an organisation’s cash ...

"All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S." This quote by Frankelin D. Roosevelt highlights the trust businesses and consumers have placed in safety deposit boxes for decades.Today, you probably won’t need an agent of the I.R.S to open your safety deposit box with you. But they ...

Over the centuries, the creation of money has significantly evolved - from trading physical commodities like gold and livestock to using digital currencies and modern credit systems.Understanding the various forms of money and the monetary system can help demystify how economies operate and highlight the diversity in how value is represented and exchanged across the world.In this blog, we’ll explore the key types of money, ...

Coins still play a vital role in many businesses’ everyday transactions, even in our digital age. But counting them by hand them can be an error-prone and time-consuming process. Luckily, coin counting scales can solve this. Let’s look at how they work, reduce manual processing errors, and more. What are coin counting scales? Coin counting scales are devices that accurately ...

According to the Bank of International Settlements (BIS), digital payments have made gains, but cash remains a steady and popular method of payment.The BIS also states that interoperability of payment systems is key for seamless payments - regardless of the chosen payment method.So, cash remains essential, especially for businesses working in retail, hospitality and travel.Therefore, it's crucial to understand the significance and functioning of the ...

Whether you are a bank or a small business, you need to dispense cash to your customers with efficiency and accuracy. This is where cash recyclers can help. But what are they? How do they work? And what benefits do they offer? Let's find out. What is a cash recycler? A cash recycler is a machine used by businesses and ...

Coin-counting machines are widely used in banks, supermarkets, and other businesses to streamline the process of tallying up loose change. While they can be convenient, their accuracy can vary depending on factors such as maintenance, calibration, and the condition of the coins being counted. Many machines undergo regular calibration to ensure accuracy, but errors, particularly with foreign or damaged coins, can still occur. Despite ...

Protecting cash and valuable items has always been essential for individuals and businesses. Because of this, the design and technology used by safes have changed a lot throughout history. They’ve gone from simple wooden boxes to reinforced iron containers with sophisticated combination locks. Today, they have developed even further into smart safes. What are smart safes? Smart safes are a ...

Throughout history, humanity has sought ways to protect its treasures.This is why safes and vaults have been used across the globe for millennia.Safes have evolved from wooden boxes with simple locks to reinforced fire-resistant containers with complex electronic and even biometric locks.And vaults have developed from temple roofs to sophisticated underground climate-controlled facilities in the arctic circle...In this blog, we highlight the evolution and history ...