The Mall of Africa implements innovative cash recycling system
Last month, the largest single-phase mall to be built in South Africa was opened to the public. The Mall of Africa, sprawling 131,038m², officially opened its doors on 28 April to over 90 000 shoppers. The most interesting thing about the Mall of Africa isn’t its size, but rather the way cash is circulated within the complex. The Mall of Africa has implemented the Shopping Mall Cash Recycling (SMCR) system by SBV Services that invisibly recycles cash throughout the mall.
The SMCR system reduces stockholding of cash and valuables on shopping centre premises
SBV Services remain understandably tight-lipped about the exact details of how the system works. The installation of the system in the Mall of Africa is only the 11th of its kind in Africa and by far the largest to date (involving 6km of tubes throughout the shopping complex).
“We pride ourselves in our constant innovation and the robust agility of our systems. The systems and solutions combine innovation with sensibility,” said Grant Dunnington, CEO of SBV Services.
The SMCR system works in such a way that cash never has to be transported to and from the mall via cash-in-transit services. All of the cash generated through sales is recycled invisibly through a highly sophisticated and intricate framework, keeping all the cash flowing within the centre itself.
The Mall of Africa’s SMCR system means safer cash and better business
The SMCR system is a response to security concerns that surround the stockholding of cash and valuables in shopping centres. By circulating the cash undetectably within the premises, the SMCR system reduces the need for cash transportation (which, according to SBV Services, is when most shop owners are vulnerable). Ultimately, this will lead to less armed guards on the shopping floors and helps the Mall of Africa achieve its goal of being a gun-free zone.
The Mall of Africa has already enjoyed large success in only its first few weeks, and if the SMCR system is effective it will encourage a more secure and pleasant retail experience for both shoppers and tenants.
Paycorp offers all its ATM customers a self-cashing option
You don’t have to be the Mall of Africa to embrace innovative ways of circulating cash within your business. With Paycorp’s ATM Solutions, you can have an ATM in your business that you can self-cash. By cashing your ATM yourself with cash from your tills, you save on cash deposit fees that can be put to better use in growing your business. Download our ATM Solutions brochure for more information about our full range of ATM installations here.