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ReadersSpeak

Believe cash is dead? Think again limiting the ability to provide a positive customer experi-
ence that is payment agnostic. Especially among operators
e wish to thank Shawn with primarily small-dollar transactions such as coffee
Kruger, senior vice shops and convenience stores.
president, product and
W strategy at Avivatech, "The good news is that the technology exists to not only
for the following perspective on the staying power of cash: enable better cash management in retail environments,
but also deliver better customer and employee experi-
"While it's true that our society is moving toward a cash- ences. Used properly, cash management technology can
less, contactless environment, I would beg to differ on the provide seamless experiences just as popular card and
notion that cash is dead or that it is dying. In fact, we can contactless channels being adopted. Likewise, cash-heavy
point to recent examples such as Miami-Dade’s push to industries such as cannabis are better able to store cash se-
ban cashless businesses (https://bit.ly/3wQmLMq) as an ex- curely, reducing the risk of theft and improving accuracy
ample as to why we will not see a cashless society anytime and efficiency in counting and back-office management.
soon.
"It's vital to understand that, while technology is wonder-
"According to the Federal Reserve Bank of San Francisco’s ful, cash is an integral part of the overall payments ecosys-
2021 report, Diary of Consumer Payment Choice, Ameri- tem and as we review our payment strategy approaches,
can consumers used cash for 26 percent of all payments, we must build proper cash management strategies into
and used it for nearly 47 percent of payments under $10. operational practices."
Furthermore, the report noted, 'A majority of consumers
continued to increase the amount of cash they are carry- The role of cash
ing and/or storing, while nearly 80% of respondents who How have your merchants' cash management needs
made in-person purchases did not indicate that they were evolved? Are they seeking new solutions? We'll welcome
avoiding or averse to using cash during the COVID-19 your thoughts on this and other payments developments
pandemic.' For enterprises looking to be exclusively cash- at greensheet@greensheet.com.
less, it is vital to acknowledge there is a risk of severely