The situation is well known: When depositing or withdrawing cash, citizens sometimes have to travel long distances to the nearest bank branch. Cashback offers at the checkout provide a useful alternative. But who will help retailers? Because bank closures also pose challenges for retailers.
Hurdle for trade
The German banking landscape is changing rapidly: the number of branches is shrinking at an alarming rate. In its statement, the German Retail Association (HDE) warns of the consequences of this development. Every closed branch means a loss of direct support for retailers in obtaining change and depositing cash. Over 30 percent of bank branches have already been closed in the last six years.
Especially in rural areas, the loss of bank branches results in considerable additional expense. Higher costs and longer distances are demanding.
Exploit efficiency potential
Replacing cash with non-cash payment alternatives is not a customer-friendly solution for retailers. Despite the trend towards increased use of card payments at store checkouts, a representative survey conducted as part of the Bundesbank study “Cash of the future” shows that 93% of respondents still want to decide for themselves which payment method they choose.
This result once again underlines the importance of cash logistics and the need for retailers to maintain this efficiently, transparently and securely. But where can we start? How can retailers circumvent the current burdens? Digital cash logistics provides the answers.
Mastering the present – with software
In order to meet customer requirements and counteract cost pressure, cash logistics processes need to be digitalized. With Interactiv Cash Control – our platform and app solution for cash control – the entire cash route can be transparently mapped, controlled and monitored. This saves time and resources when ordering change and documenting the delivery of proceeds (safebags).
In addition, the solution simplifies cooperation with the cash-in-transit company – by integrating ALVARA ICC into the cash center software of the cash-in-transit company, for example Pecunia.
Efficient cash handling today
or retailers, dealing with efficient cash logistics has become more of a duty than an obligation. A decision against coins and bills leads in the wrong direction. Consumers want to have a choice when paying. To avoid collapsing under the weight of increased costs and immense effort, it is worth taking a look at software solutions. With a tool that takes over communication and monitoring tasks in cash management, they can skillfully stand up to the current challenges – today and in the future.
By the way: The National Cash Forum – an initiative of the Deutsche Bundesbank launched at the beginning of the year – is also dedicated to ideas relating to efficient cash management.
