Cash-friendly technology

While some countries are moving to cashless environments, a vast number of people in the developed world still rely on physical monetary transactions, so cash-friendly systems are being enhanced and modernized

Words | Paul Doukas, SuzoHapp, USA

The facts speak for themselves. Over half of the world’s population – billions of people – is without access to a bank account or a smartphone. Although cashless and digital payment methods are increasing, cash still has its place. The importance of accepting cash varies, based on many factors, among them demographics, social habits and cultural norms. Scandinavians are known for

The compact ICS can process up to eight different coins without pre-sorting

their move away from cash. Yet Germany, for example, is one of the most cash-focused nations in the world. The USA is another country where cash plays a dominant role. According to the Federal Reserve Bank of San Francisco’s Cash Product Office, 32% of all transactions in the USA in 2016 were made in cash. When it comes to small payments, cash is often preferred across all demographics. For micropayments of US$15 or less, Americans used cash 66% of the time. Cash remains very important for the public transportation sector as well, as it ensures that payment terminals remain accessible to everyone.

Diverse and competitive market

The cash handling market is diverse and competitive. Market players have a broad choice – not only in terms of the specific cash handling provider but also when it comes to the various cash handling components each company offers. Such is the variety on offer that the task of finding the correct mix is not an easy one for the transportation machine manufacturer. Both cash elements – notes and coins – often have to be taken into account.

When we think of long-standing practices in the transportation market, such as parking meters only accepting coins, we are reminded of the continued need to be able to accept coins.

The greater the payment choice available, the higher the customer satisfaction levels. This applies just as much to cash handling solutions. The experience, knowledge,

variety and flexibility that SuzoHapp brings to the market enables it to help deliver increased customer satisfaction. Ideally, a customer should be able to pay with any of the coins they have with them – from the lowest to the highest denomination. This presented a challenge for many years, as often each coin type had to be paid out by an individual coin hopper. Paying back more coin types increased not only the machine cost, but also the machine size, as there needed to be room for all of the coin types in the payment machine. SuzoHapp developed a solution.

Multiple coin processor

The Intelligent Coin System (ICS) is a compact unit that can process up to eight different coins without the user needing to pre-sort them. The ICS therefore combines eight hoppers and a sorter – all in one product. The compact design makes it easier for manufacturers to incorporate. The high capacity – of up to 1,600 coins – reduces the refill rate. The eight tubes already have the coins stored for payout, meaning that customers receive their change immediately, in up to eight different denominations. This is a real step forward in multidenomination coin payout technology. Payout speed is even more assured as coins from up to four tubes can be dispensed simultaneously.

Note recycling often offers a better service – it accepts, stores and returns the banknotes from a single product. The benefit for the customer is that change is also provided in banknotes (paying back a handful of coins is a thing of the past). What this means for the operator is that less capital is required to float the ticket vending machines (TVMs) and fewer cash-in-transit (CIT) pick-ups. By adopting bill recycling, the operator adds incrementally to capital expenditure but reaps substantial annual recurring cost savings as a result. Other benefits include: • Reduced staff and CIT costs due to minimized coin change replenishment and bill cash box collection calls to the TVM • Lower financing costs due to lower start-up cash float in TVMs • Reduced cash shrinkage because of fewer banknotes and coins flowing between the operator and the bank.

But the case for bill recycling is not simply about delivering cost savings. It also involves providing a better service for the customer by making cash an effective payment option for those that either prefer it or lack an alternative means of paying.

Again, manufacturers and operators are found with a broad and increasing choice of cash recycling products. SuzoHapp offers a complete cash recycling solution for both coins and banknotes. Its Bill-to-Bill solution validates, stores and recycles banknotes. It includes sensor technology to allow for advanced security and multi-escrow ability to ensure all notes can be returned if the sale or payment is canceled. The solution is backed by many years of experience, ensuring the range meets the market’s needs in full.

Accepting cash means that operators need to look at how to best manage the cash collection process. Having the right solution saves time and money. Consider bus drivers who have to deposit their takings quickly and safely at the end of their shift. Statistics show that, with the right collection process, an operator running 100 drivers can gain 16 man-hours a day. SuzoHapp has dedicated solutions here. Its Scan Coin CDS-9 and CDS-820i offer a complete cash handling service for coin and note transactions, including bulk coin deposits, note bundle deposits and withdrawals. This provides an efficient, safe and transparent method, providing measurable cost savings over the long term. n

Below left and center: The CDS-9

and CDS-820i are capable of processing bulk coin deposits

Below: The Bill-to-Bill recycler

includes sensor technology to ensure all notes are returned if required