{"id":3083,"date":"2017-11-17T12:27:55","date_gmt":"2017-11-17T12:27:55","guid":{"rendered":"http:\/\/www.tellermate.com\/?p=5301"},"modified":"2025-08-08T09:33:41","modified_gmt":"2025-08-08T09:33:41","slug":"cash-handling-technology-makes-cash-payments-as-easy-as-cashless","status":"publish","type":"post","link":"https:\/\/www.tellermate.com\/es\/news-and-resources\/cash-handling-technology-makes-cash-payments-as-easy-as-cashless\/","title":{"rendered":"Cash handling technology makes cash payments as easy as cashless"},"content":{"rendered":"

\"NickAlthough cashless payments generate a lot of buzz and are becoming more widespread, cash handling technology makes paying with cash just as easy.<\/p>\n

Whether or not you agree, cash is here for the long haul. So, if you accept cash for payment, your processes must be as smooth for your employees to handle as cashless; and equally as easy for customers to use.<\/p>\n

The 2016 U.S. Health of Cash Study<\/a> by Cardtronics cites that cash is still the most frequently used form of payment in brick-and-mortar stores at 89 percent. The same study further states that 72 percent of people use cash for purchases less than $10 and 54 percent use cash for purchases under $20.<\/p>\n

I could name one report after another \u2013 from various countries \u2013 claiming cash is still king when it comes to payments.<\/p>\n

It\u2019s no secret that some businesses worldwide are dabbling in cashless-only payments. Which makes me wonder how consumers will react when the option to pay with cash at a particular store or restaurant is eliminated.<\/p>\n

Earlier this month, a cashless-only, 40-seat restaurant<\/a> opened in Tokyo. Posted on the door of Gathering Table Pantry is a \u201cNo Cash\u201d sign. Patrons can only pay with credit cards or electronic money using a device on each table, which will also be used for customers to place orders. The chain restaurant\u2019s parent company is testing the waters at this outlet because of a labor shortage \u2013 and will only have three employees working there at once. And depending on the outcome, it could go cashless in locations elsewhere.<\/p>\n

\"Cash-handlingThe cash vs. cashless convenience conundrum<\/h3>\n

Proponents of cashless claim, among other things, that cashless payment options, such as online banking, credit cards and digital wallets, are convenient, fast, and much more efficient than cash. But not every merchant accepts credit cards. And even fewer accept digital wallet payment.<\/p>\n

This article from The Guardian<\/a> says, \u201cDigital wallets have the chicken-and-egg problem: they\u2019re useless to customers without shops which take them, and no shop will accept payment in them if their customers don\u2019t use them.\u201d<\/p>\n

In contrast, most brick-and-mortar businesses still accept cash as a form of payment. And if your business is one of them, your cash-management processes need to be efficient, accurate and seamless \u2013 just like cashless options. Are you automating your cash management processes so they are as smooth as they can be \u2013 for your employees and customers alike?<\/p>\n

Common cashless payment options<\/h3>\n

Before digging deeper into cash handling solutions, here\u2019s a brief run-down of some of the top cashless contenders vying to knock cash of its throne.<\/p>\n

Digital wallet<\/strong> \u2012 a virtual repository for credit card numbers, receipts, coupons and passwords for various payment methods and websites. It resides on the user\u2019s cellphone or personal computer. The most-popular ones include PayPal, MasterCard\u2019s Master Pass and Visa Checkout. A digital wallet eliminates the need to carry cash, credit cards, checks and an actual wallet. But it\u2019s tough to use if you misplace your smartphone or if your battery runs out when you need to pay.<\/p>\n

Mobile wallet<\/strong> \u00ad\u2012 payment apps are housed on mobile devices, such as wearables and smartphones. Better-known ones include Apple Pay, Android Pay and Samsung Pay. Like its digital wallet cousin, a mobile wallet eliminates the need to carry cash, credit cards, checks. Unless you lose or break your mobile device.<\/p>\n

Mature cashless payment methods<\/strong> \u2012 No explanation needed for these tried-and-true cashless payment methods\u2026<\/p>\n