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"Cash: The Underrated MVP Retailers Still Rely On"

Digital payments may be rising, but cash remains a critical player in retail. This piece reveals why cash still matters and how smart handling tech can help retailers save time, reduce costs and stay inclusive.

With the rise of digital wallets and contactless payments, many believe cash is on the decline. But new research from Innovative Technology reveals a very different picture - cash is not only alive in U.S. retail, it’s essential. This report explores why cash remains a retail MVP and how the real issue isn’t the use of cash itself, but how it’s managed.

Key stats show just how resilient cash is:

• 79% of Americans still carry it regularly.
• The average amount of cash carried has increased post-pandemic.
• 41% of low-income adults prefer cash for day-to-day spending.
• Over 5.6 million households remain unbanked and dependent on cash.

Cash offers a unique mix of privacy, control and accessibility. It’s a vital tool for budgeting, avoiding cyber threats and ensuring economic inclusion, particularly for underserved communities. The shift to cashless can marginalize these groups, prompting cities like New York to ban cashless-only policies due to their discriminatory effects.

Still, cash handling remains a challenge for many retailers, with manual processes like till counts and deposit prep costing valuable time and introducing the possibility of significant errors. According to the American Banking Association, such inefficiencies cost U.S. businesses up to $40 billion each year.

The solution isn’t to go cashless, it’s to upgrade cash handling. Technologies like the latest cash recyclers and note validation systems are transforming how retailers manage physical money - reducing error, saving up to two hours of staff time per day and halving handling costs as transaction volume scales.

Retailers who invest in modern cash handling benefit from smoother operations, shorter queues and improved customer experiences. With 57% of businesses saying they’ll never go fully cashless, this asset makes a compelling case for seeing cash not as a burden, but as a modern retail MVP, especially when managed with the right tools.

Offered Free by: Innovative Technology
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