Cash Connect Takes The Risk

Cash Connect Management Solutions, the innovative company that delivers comprehensive cash management and payment solutions to South Africa’s retail sector has just opened a new branch in Durban’s Westville area.

“The growth of Cash Connect’s clients in KwaZulu Natal and our commitment to customer service are the stimuli for this exciting expansion. We are therefore thrilled to announce the launch of a new Durban-based branch in our armoury,” says Richard Phillips, Joint CEO of Cash Connect Management Solutions.

“It’s our mission to be the preferred independent specialist in the supply of credible, secure cash and payment solutions. Cash Connect also prides itself on the fact that their customers are 40 times less likely to be hit by an armed attack ,” says Phillips.

Cash is the target for over 95% of armed robberies in South Africa. More and more retailers are therefore starting to realise that their conventional cash handling processes are not adequate in this day and age. In the eight years of providing robust cash acceptance devices, Cash Connect’s retail clients have reported only two armed robbery attempts, thus proving, quite emphatically, the inherent deterrent qualities of Cash Connect’s cash vaults that are built to SABS Cat 4 standards.

The most successful of these cash management systems continues to be Cash Connect’s automated retail cash management service and its growing suite of direct payment solutions

Their systems not only help the retailer to reduce his costs of cash management, but they also significantly improve the cash risk profile, both within the store and while the deposit is in the custody of the Cash in Transit carrier.

“The most recent crime statistics released by the South African Police Service indicate that KwaZulu-Natal is one of the provinces with the most violent crimes in the country. These statistics include some of the highest murder rates and armed robberies”, says Phillips.

It’s therefore imperative that the retail sector adjusts to the way managing cash and payment requirements have changed. The old, traditional way of handling cash no longer makes good business sense. As long as cash is king, the province’s businesses, as all others, will remain vulnerable to armed robbery,” says Phillips.

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