G4S Cash Solutions broadens and deepens its customer base
G4S Cash Solutions is pleased to announce a number of contracts to provide cash management services which are delivered using G4S’s new technology.
G4S’s technology enabled cash management services are delivered each day to over 6,900 retail locations across the United States, including over 5,000 in large store formats where G4S has established a leading market position in the provision of cash management technology.
We have extended our coverage in Canada and Europe, including recently winning an eight-year contract with one of the largest retailers in the Netherlands.
In the Asia Pacific region, G4S passed a major milestone earlier this month with the deployment of retail and banking technology solutions to our 100th customer in the region. G4S now offers new technology enabled cash services in the Philippines, Indonesia, Hong Kong and Malaysia.
G4S Chief Executive Officer, Ashley Almanza said:
“The growing portfolio of contracts using G4S’s cash management technology underlines the value this technology brings to our retail and bank customers. G4S’s technology improves the security, control, ease of use and efficiency of our customers’ cash handling. We believe that there is a substantial and valuable opportunity to extend and grow our new products and services within and across our global markets."
G4S Global Cash Solutions Chief Executive, Jesus Rosano said:
"Our new cash technology is being adopted by banks and some of the world’s leading retailers and we expect that this market will continue to grow strongly. At the end of December 2017, our technology was deployed in over 19,500 locations across North America, Europe, Asia Pacific and Africa which represents more than 30% growth over the past 12 months.”
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The benefits of our retail cash technology to both our bank and retail customers include:
Reduced labour costs - our proprietary software automates the compilation of cash till floats and cash processing, thereby reducing the labour time on back-office activities and reducing cash leakage.
Improved cash flow – The retailer obtains ‘same-day’ credit for the cash which significantly improves cash flow. Our cloud-based cash management software platform ‘Cash Manager’ is integrated with the customer’s back office, point-of-sale and accounting programmes.
Reducing transportation costs – we deploy recycler devices, which allows cash to be recycled in store, thereby reducing cash transportation costs.
Reduced processing fees – Reduced volume of cash deposit at bank vaults allows banks to reduce overall fees to their retail clients while improving the margins associated with depositary services.