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Mobile wallets like Apple Pay and Google Wallet are notwithstanding, cash remains the preferred method of payment in a variety of settings. Retail payments are changing, yet there is still $1.5 trillion in cash in circulation. In fact, cash represents between 30% to 45% of all global transactions. It is usually what shoppers pull out of their wallets when making a purchase at a convenience store, gas station, fast-food restaurant or bakery.
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Tech Savvy Convenience Store Features Innovative Cash Handling Technology
Convenience stores in the United Kingdom represent a £39.1 billion industry, about the same as industries such as oil and gas. Convenience stores number almost 50,000 and 72% of them are run by independent retailers. These retailers face challenges like future-proofing their businesses and eliminating staff theft. More often than not, the answer to both is technology.
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