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BANKING TECHNOLOGY | Staff Reporter, Taiwan

GRGBanking installs 10 cash deposit machines in a mall in Taiwan

600 retailers and over 1,200 cashiers in the mall will be served.

According to a release, 10 units of Intelligent Cash Deposit Machine P2801L from GRGBanking were put in use in Dream Mall, the largest shopping mall in Taiwan.

Deployed in November 1 by Shin Kong Bank, a major bank in Taiwan, the machines are estimated to serve more than 600 retailers and over 1,200 cashiers in the mall, to enable real-time credit to retailers’ bank account.

P2801L is a high speed and large capacity cash deposit machine with state of the art technologies like banknote validation, sorting and serial number tracking. As part of GRG's Intelligent Cash Collection Solution (ICCS), P2801L is an ideal solution for retail business area where there is large volume of cash in transactions, including supermarkets, gas stations and casinos, etc.

“This sets an important milestone for the cash industry as how we can manage the cash logistics chain in a more effective and efficient way, especially when the retailers under pressure of their operational cost keep rising”, said Gary Soon, Regional Sales Director for Asia Pacific from GRGBanking.

According to Soon, before the installation, GRG conducted a research about the cash deposit behavior of retailers in Dream Mall with Intersys Taiwan Ltd, GRG’s local partner. The research shows that there was a “rush hour” for cashiers flooding to the bank’s deposit center in the mall when the mall was about to close at night. It caused long queues beyond the deposit center’s processing capability.

Garry Yang, General Manager of Intersys , said “we are very pleased with this project that truly enabling Dream Mall to increase its store efficiency and thus reducing their overall costs associated with cash handling, as well as, improve their customer experience.”

Partnering with Intersys, in August 2011, GRGBanking announced its first Intelligent Cash Automation Solution order from Asia Pacific region to implement P2801L at RT Mart. To promote such idea, GRG also co-operated with, the ATM industry online media, to release the latest white paper about intelligent cash collection solutions.

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