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FAQs - Most asked questions

AUTOMATED VS MANUAL CASH MANAGEMENT

With South Africa’s high crime rate and the knowledge that more than 90% of business robberies occur with insider participation, it is important to understand that the kind of deterrent/s you have in place will determine the chances of your store being identified as a target for criminals.   

Robust cash vaults that are built to SABS category 4 standards are seen as the toughest against attacks of all kinds, and therefore act as a deterrent for robberies. “Our cash vault technology has been vigorously tested on numerous occasions over the past few years by determined and organised criminals using every kind of tool from explosives to sledge hammers. It has undeniably delivered on the level of deterrence and defence necessary to discourage a repetitive continuance of the scourge of violent crime,” says Phillips.

Businesses big and small therefore need to choose their cash management systems wisely.  Ultimately the primary objectives should be to remove cash as the target for business robberies, which creates a meaningful deterrent and in turn, helps increase business efficiency.

Unfortunately, too many businesses still manage their cash using conventional methods, thereby posing an even greater risk of becoming a victim of criminal attack. 

Businesses should opt for an automated cash management and payments solution that is more than just a tin box to safeguard their hard-earned money. Instead business should opt for an all-inclusive, value guaranteed, automated cash management solution that encompasses cash in transit logistics and cash processing

Although the market is seeing an upward trend in the adoption of automated cash management solutions, it is still sad that thousands of business owners still opt for the DIY approach to cash handling. 

NEW COMPACT, ROBUST SOLUTION FOR RETAILERS

Cash Connect Management Solutions, the leader in automated cash management and payment solutions, launched South Africa’s first small under counter, automated cash vault that is built to minimum SABS Category 4 level specifications – the  Connectr© 3000.u, also known as the N3K in mid-2016.

This revolutionary device offers retailers with limited floor space, the capacity to deposit up to 3000 bank notes quickly and accurately. The major differentiator is that it is a proven deterrent to criminals wanting to try an armed robbery or burglary including bombing attacks against the store. Our clients’ staff and customers are no longer intimidated by the fear of attack and the focus of attention has shifted to improving the working and shopping experience in every way.

According to Steven Heilbron, also Joint CEO of Cash Connect says “Our aim is to enable retailers to operate more efficiently and securely.  Our new Connectr© 3000.u (N3K), although compact, is a robust under-counter cash vault that is built to SABS Category 4 standards that will ensure an effective crime deterrent for businesses.”

“In pursuing a new design approach, the aim was to provide the retailer with a relevant improvement to an already successful product range, without compromising quality, security or effectiveness. Cash Connect has successfully changed the design of cash acceptance devices and at the same time set the benchmark for future cash vault design,” says Pierre Liebenberg, General Manager of Development and Manufacturing at Cash Connect.

The N3K cash accepting device addresses multiple needs for various business requirements because it’s compact, aesthetically improved, and boasts new technical features. 

“Current trends indicate a need for smaller devices that adequately protect against traditional and sophisticated blunt-force attacks. With pressure mounting on retailers to generate maximum revenue from available floor-space, there is a greater need for a cash acceptance device that will fit under counters and in small cash offices,” says Liebenberg.

Liebenberg further adds that the design of the N3K provides a solution for varied environments where the cash volume to be processed matches the product’s specifications.  That being said, the N3K provides an ideal solution to fuel retailers and convenience store owners because of its non-intrusive and innovative design which incorporates a world-first, sliding door feature in the safe.  

This design negates the door-swing allowance and resultant wasted floor-space required for opening conventional-design safe doors, thereby allowing the cash vault to be installed in generally under-utilised counter space or next to a wall.  

The N3K boasts a range of industry-leading features:

  • Built to minimum of SABS Category 4 burglary resistant safes standard;
  • Contemporary, easy to use touch-screen user interface;
  • A unique horizontal drawer-slide, door design for efficient use of under-counter and adjacent wall space;
  • An unconstrained capacity of up to 3 000 banknotes;
  • A note validator with a hopper capacity of 30 mixed denomination banknotes and up to 64 banknotes per minute processing speed;
  • A proprietary, prompt-assisted bag-loading system which prevents incorrect loading of disposable heat-sealed bags;
  • Biometric user identification;
  • Dual SIM GSM/GPRS bi-directional communication with our proprietary back-end; and
  • Unlimited users, unlimited destination accounts, as well as a multi-business partner capability.

Although the market is seeing an upward trend in the adoption of automated cash management solutions, it is still sad that thousands of business owners still opt for the DIY approach to cash handling. 

ABOUT CASH IN CIRCULATION AND A METHOD OF PAYMENT

  • Contrary to many predictions, the days of physical cash are not numbered. The number of bank notes will increase by about five percent annually between 2016 and 2026. 
  • In addition, 84% of global transactions are still made with cash (Source: Mastercard & ATMIA).
  • According to Arjan Schutte of Forbes, at the current rate, cash will be a major form of payment for the next 200 years.
  • According to the SA Reserve Bank, cash in circulation in 2016 reached the R130 Billion mark, up from R119 Billion in 2014.
  • Cash is therefore here to stay and its need to be safeguarded will remain a priority.

SOUTH AFRICA’S NATIONAL CRIME STATISTICS FOR THE 2015/2016 PERIOD SHOW THAT CRIME AGAINST OUR BUSINESS SECTOR IS STILL ON THE RISE.

Organised crime has a direct impact on our Retail Industry and our economy. As socio-economic factors continue to deteriorate, cash-related crime will continue to increase. It’s therefore vital that business owners educate themselves on how to reduce their risk of an armed robbery, dramatically improve efficiencies and reduce the cost of cash.

  • Robbery against businesses for the 2015/2016 financial year shows that there were 19, 698 while for the 2014/15 financial year there were 19,170 robberies. This is an increase of 2.8% with the highest reported cases in Gauteng, KwaZulu-Natal and the Eastern Cape.
  • There has been a 349% increase in business robberies in South Africa over the last 11 years.
  • According to Richard Phillips, joint CEO of Cash Connect Management Solution, cash in our retail sector continues to be a primary target of organised crime.
  • With this in mind, the Consumer Goods Council of SA recorded more than 1000 armed robbery attacks against their retail members between March 2015 and February 2016, and over 400 burglaries in the same period, which is an increase of 62%. The organisation now stresses the importance of protecting the retail environment since it accounts for 18% of our Gross Domestic Product.
  • While bank robberies have decreased by 64%, with only 6 cases reported across the country, Cash in Transit robberies have once again increased by some 15%.  “Organised crime remains very active in the cash economy. We believe that there has been at least a 35% increase in attacks against retail cash deposit machines and a marked increase in the use of explosives,” adds Phillips.

The cash value is guaranteed once deposited into the cash vault. Valid claims for any loss after being deposited is settled in accordance with your service choice of same day, next day or two day. Our clients are not exposed to settlement delays for valid claims arising from either insurance or investigative processes.

The cash value is guaranteed once deposited into the cash vault. Valid claims for any loss after being deposited is settled in accordance with your service choice of same day, next day or two day. Our clients are not exposed to settlement delays for valid claims arising from either insurance or investigative processes.

Depending on the volumes of cash deposited, service cost savings of up to 45% on traditional manual cash management costs are readily achievable.

Manually counted cash receipts are prone to shortages with national averages of between 0.1% and 0.15% (depending on the size and type of business), being reported in many developed economies. Cash Connect’s operating model provides for the teller to deposit cash from the till directly into the cash vault thus eliminating third party involvement. What the device counts is the actual value deposited.

It is common knowledge that over 90% of attacks are committed with some form of insider participation. When a store is properly hardened, these same ‘insiders’ “broadcast” that message, drastically reducing the risk of attack and deflecting the criminals to softer targets where cash is easily available.

Yes, from the instant cash is deposited in the vault, we take all the risk.

Non categorised, light weight devices often referred to as ‘safes’ or no protection at all will leave you exposed to the threat of an armed robbery.

We have the best risk profile in the industry.
Cash Connect sites indicate that you are 40 times less likely to be attacked. Our guarantee is INSTANT, from the moment cash is deposited in the vault. We will likely save you time and money and "We take the Risk".

Our Call Centre resolves over 55% of problems on the phone. Unresolved issues are logged, tracked and escalated to one of over 100 qualified technicians from within our national network of support personnel who will respond to your site within the time frame we have contractually committed to.

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T | +27 11 010 4300
E | info@cashconnect.co.za
CC | 0861 MY RAND (69 7263)

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Innesfree View | 4 Harris Road (Cnr Katherine & Harris) | Sandown Ext 20 | Sandton | 2196 | South Africa

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