CASH HANDLING & SECURITY: Smart cash, safer stores - Best practices for retail cash handling and security in South Africa
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In a retail and wholesale environment where cash is still king in many communities, ensuring its safe and efficient management is as important as ever. Despite the steady rise in digital payments, cash remains a vital payment method across South Africa, especially in supermarkets, wholesalers and independent retailers operating in informal and rural areas.
According to the Payments Association of South Africa (PASA), cash continues to be the most frequently used payment method in township and rural retail environments, accounting for over 60% of daily transactions in certain categories. BusinessLive’s report on the South African Reserve Bank’s (SARB) Payments Study Report, launched in September 2024, states, “Cash payments accounted for 56% of all payments, however, given the low average value of cash payments (about R208 per transaction), payments made in cash represented only 21% of the value of all payments. The average value per payment across all settlement methods was about R530.”
The unequal economic and financial landscape in South Africa creates an environment where retailers and wholesalers have to find a balance between offering new payment technologies, improving efficiency and meeting rapidly evolving customer expectations in terms of cashless payment options, while remaining and able to accept cash as a payment option. According to the SARB Payments Study Report, 31% of those surveyed said they use cash because it is convenient, easiest to use and quick, while 18% said they use cash as there are no extra charges, it is cheaper to use and there are no hidden costs.
Keeping your cash safe
Despite a broader push towards digital payments, cash remains both a necessity and a vulnerability for South African retailers and wholesalers. Modern cash-handling solutions have become more intelligent, secure and connected than ever before, driven by fintech innovation, automation and advanced security protocols. In this environment, the question is no longer whether to upgrade cash handling systems – it’s how to do so in a way that’s smart, secure and sustainable. To uncover best practices and future-focused insights, leading cash management experts and technology providers shared their perspectives on the tools, strategies and security frameworks reshaping the future of cash handling in South African FMCG retail and wholesale.
From safe boxes to smart vaults: The rise of intelligent cash management
Clive Strover, CEO of Bullion IT, says cloud-based platforms provide real-time monitoring, reporting and visibility into cash levels across multiple locations, enabling instant reconciliation and remote management. “Integrated software provides real-time insights into cash levels and transactions, ensuring better cash flow management,” he explains. Justin Fletcher, Managing Director of AllCash South Africa, says, “2025 is all about real-time access to data and information. Today’s cash management systems aren’t just about storing cash; they’re about tracking and reconciling it through real-time integration with POS systems, predictive analytics and authentication at every point of the cash cycle.” These systems, according to Fletcher, provide a granular level of insight that was previously unimaginable, allowing businesses to optimise cash f lows and mitigate risks associated with human error or delayed reconciliations.
Sumay Dippenaar, General Manager Marketing of Cash Connect concurs, noting that smart vaults now offer embedded fintech features that go beyond protection. “Retailers can access up to R5 million in business funding, with daily repayments automatically deducted from the vault, enabling cash flow without operational disruption,” she notes. These so-called ‘super wallets’ allow funds to reflect in real time, which means that retailers can pay suppliers instantly without traditional banking delays or deposit fees. It’s also a game-changer for independent retailers who need to keep shelves stocked and suppliers paid.
Morné Liebenberg, CEO of Clyronex points to the rise of cash recyclers – devices that count, validate and dispense money in a closed-loop system – as a revolution in front- and back-office efficiency. “They not only improve security but also allow real time visibility of cash across store locations and enterprise dashboards. These devices are essential for streamlining cash management, reducing shrinkage and providing detailed insights into store performance, all while reducing the reliance on human cash handling.”
While physical cash still poses significant security risks, the number of ATM bombings in South Africa declined by 30% in November and December 2024 and January 2025, says an article by a staff reporter on Tech Central on 14 March 2025. This is according to Project Big-Bang, a collaborative initiative with the South African Banking Risk Information Centre (SABRIC), Online Intelligence, the Petroleum Security Initiative, oil companies and the South African Police Service. “The initiative led to the identification, tracing and arrest of 46 top perpetrators linked to 69 cases, as well as the seizing of explosives, vehicles, firearms, clothing used at the scene and more than R400 000 in dye-stained cash,” Online Intelligence, one of Project Big-Bang’s partners, said in a statement.
According to the statement, the Big-Bang task team was formed as a response to a 72% increase in ATM bombings between 2019 and 2023, as reported by SABRIC. The initiative ran from May 2024 to January 2025,” says Tech Central. However, it is still critical for stores and service providers to remain vigilant, as these and other violent crimes such as armed robberies and CIT heists that target cash are an ever-present threat.
