Retailers rely on cash as the cornerstone payment mechanism for their
business, and with new technology from Unisys Corporation (NYSE: UIS),
those retailers can now gain near-immediate credit from their cash
deposits without going to the bank.
At the Independent Armored Car Operators Association conference being
held today in Boston, Unisys announced SmartCash Vault, a new line of
intelligent safes that incorporate currency recognition technology. The
SmartCash Vault solution allows banks to provide provisional credit to a
retailer for cash deposits made to the retailer’s safe - hours or days
sooner than has been the case in the past.
The solution tracks deposits, verifies amounts deposited and allows the
bank to quickly credit the retailer, eliminating delays associated with
transporting currency. Unisys is collaborating with Armor Safe
Technologies of The Colony, Texas to develop and deliver a turn-key
solution, including integration, deployment, on-site maintenance, and
24-hour help desk support.
Unisys SmartCash Vault technology provides retailers the ability to
deposit currency and checks into an on-site safe. Cooperating banks can
provide immediate credit for the deposit, allowing the retailer to
increase its cash flow and reduce cash shrinkage by putting its daily
receipts to work immediately. Retailers typically experience cash
shrinkage of 1% or more of gross sales, negatively impacting their
profit margins.
Unisys will offer the solution through armored carriers to retailers and
banks looking to augment their cash management offerings. "When it comes
to profitably managing cash, every second counts,” said Alan Howard,
president, Unisys Payment Systems. "Our new SmartCash Vault solution
provides clear benefits to retailers and carriers, and complements
services for banks. Certainly large banks see the benefit, and this can
also be a game-changer for community banks, allowing them to compete on
an equal footing with larger banks.”
Total Armored Car of Detroit, MI, plans to deploy the solution to
leading retailers and banks in Michigan as a premium service offering.
"This solution is a win-win for all parties,” said Jim Barr, executive
vice president of Total Armored Car of Michigan. "Cash and checks are
secured like never before, cash availability is increased, and the
retailer has far better control and security of their cash.”
About Unisys
Unisys is a worldwide information technology company. We provide a
portfolio of IT services, software, and technology that solves critical
problems for clients. We specialize in helping clients secure their
operations, increase the efficiency and utilization of their data
centers, enhance support to their end users and constituents, and
modernize their enterprise applications. To provide these services and
solutions, we bring together offerings and capabilities in outsourcing
services, systems integration and consulting services, infrastructure
services, maintenance services, and high-end server technology. With
more than 26,000 employees, Unisys serves commercial organizations and
government agencies throughout the world. For more information, visit www.unisys.com.
About Armor Safe Technologies
Armor Safe Technologies specializes in the development, manufacturing
and servicing of the industry’s most innovative cash-management systems.
Armor safes validate, count and secure cash in cassettes ready for
delivery to the bank, establishing an effective closed-loop solution to
many of the toughest challenges facing retailers: loss prevention,
employee accountability and financial transparency. Retailers around the
world rely on Armor’s intelligent safes as a crucial component of their
cash management processes.
RELEASE NO.: 0717/9005
Unisys is a registered trademark of Unisys Corporation. All other brands
and products referenced herein are acknowledged to be trademarks or
registered trademarks of their respective holders.
