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Customers frequently pay with cash. How you choose to handle it impacts your business.

With labor costs on the rise, you want to make the best of your resources.

Your highest paid employees traditionally spend the most time handling cash‑costing the business valuable managerial resources.

More from our insights library:

The Right Cash Security for Your Government Organization

Despite the growing popularity of mobile payments, cash is still being heavily used by consumers across the country. With this, many people are still using cash to pay for government fees such as taxes, parking tickets, court fees, and more. This use of cash creates a need to effectively manage cash intake for efficient daily operations in government facilities.

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The Future of Cash Management Technology

With cash continuing to be a preferred payment method for consumers of all ages, cash-handling technology is constantly evolving for the future. As a result, both retailers and banks are always looking to invest in new services and devices to meet the needs of their customers more efficiently.

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Shopping Trends and the Effect on Cash Management

The demand for cash remains resilient today. Many people find this fact surprising, especially in the face of increased competition with alternative payment methods such as credit cards, debit cards, and electronic payment apps such as Venmo and PayPal. However, the 2019 Diary of Consumer Payment Choice conducted by the Federal Reserve highlights the way in which cash is still used, and even preferred, by a wide-range of individuals across various age and household incomes.

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