Treat cash like cards
Numus Cash Payment Service is ideal for environments with a lot of cash transactions such as restaurants, fashion shops, convenience stores and supermarkets. The Numus solution automates cash management and eliminates time-consuming tasks such as counting cash, preparing deposits, managing float levels, investigating discrepancies, doing manual reconciliations, change money handling or managing CIT collections – basically anything related to cash. “We do cash as a service, so we are a cash payment provider who handles all of your cash payments from till to bank,” says Maxim Schoew, who is responsible for Business Development at Numus.
For merchants, cash is handled like a credit card. “Every cash payment goes to the till and is immediately booked into your account,” says Schoew. After each transaction, what follows becomes Numus’ responsibility. Similar to card and mobile payment residuals, all of the cash management is taken care of for a small fee, which is a percentage of each cash transaction.
Less cash hassle, lower risk
The SMARTtill Intelligent Cash Drawer records and counts each transaction. If there’s a discrepancy, the Numus system flags it in real time for a quick resolution. This makes the cashier’s job easier and prevents costly mistakes. “If people make mistakes, whether or not on purpose, you will see it immediately, so nobody will do it again,” Schoew says.
Based on retailer requirements, Numus sets skimming limits for each till. When the maximum limit amount is reached, a message appears on the cashier’s screen to skim notes from the till and deposit them in a smart safe.
“You don’t even have to worry about your cash logistics from your Smart Safe,” says Schoew. The company can organize the CiT pickups from retailers and transport it to its cash centers. From there, it is transferred to the merchant’s Numus bank accounts. Retailers can get bank accounts statements daily. “It works like a banking system. Everyday you download or you get your statement from the bank,” Schoew says.
Schoew says the solution has been deployed successfully with various customers, including Jumbo and HEMA supermarkets in the Netherlands. The cash-as-a-service approach will be different with the supermarket chain because the client has its own logistics for picking up and depositing cash. Because the SMARTtill Solution processes pounds, euros and dollars, the solution can be deployed in multiple countries.
