During the current pandemic, we’ve seen many businesses refuse or strongly discourage the use of cash as a payment option. It’s true that bills and coins don’t get disinfected or cleaned regularly.
However, the World Health Organization (WHO) has actually stated that cash may just be the cleanest form of payment, and that the risk of currency transmitting COVID-19 is low. In fact, PIN pads and screens used to accept digital payment options may pose a greater risk since they’re handled repeatedly throughout the day by customers and cashiers.
It’s a good idea to keep accepting cash right now. However, you may still want to help employees reduce contact with cash. Not only can it help put their minds at ease, but it’s also good for your business. The less your employees handle cash, the more efficient your cash management process can be. Plus, it’ll reduce the risk of human error and shrinkage, too.
1. Follow Cash Exchange Best Practices
If you accept cash at your business, your employees may likely need to handle cash in some capacity, but that contact can be reduced by following cash exchange best practices.
When exchanging banknotes and coins, your employees should encourage customers to place the cash directly on the counter. Your employees should do the same when providing change back.
After each cash exchange, wipe the counter. Encourage employees to wash their hands after handling cash and to avoid touching their faces until they do so. While employees should be able to wear gloves if they feel the need to do so when handling cash, proper hand hygiene can go a long way to keeping employees safe. It’s a good idea to wash hands often.
2. Encourage Self-Serve Payments
Self-serve can not only reduce employees’ contact with cash but also benefit your business by lowering labour costs and increasing productivity and efficiency on the floor.
Consider investing in a self-checkout banknote and coin recycler, such as the SuzoHapp SPS-700/800. This cash management solution can be used by your customers through self-directed transactions. Just face the machine towards the customer, and they can feed their cash through the machine and get change dispensed back to them. Your employee never has to touch the banknotes or coins.
3. Invest in Cash Management Automation
Self-directed transactions reduce contact with cash during customer transactions. What about the rest of the time your employees need to handle cash, such as when they have to count and sort cash at the end of the night, reconcile the day’s transactions, and manage their floats?
For these back-office cash interactions, cash management automation solutions can significantly reduce the need for employees to handle cash. There are coin counters and banknote sorters to take care of counting and sorting, as well as currency recyclers and smart safes to manage the reconciliation process and the dispensing of floats. These machines effectively handle your business’s cash for you. Not only can your employees appreciate the help, but your business can benefit from time and cost savings, as well as improved productivity and efficiency with cash management automation.