Magazine Article | October 24, 2011

Coin Redemption Keeps Cash In Stores

Source: Innovative Retail Technologies

By Matt Pillar, Integrated Solutions For Retailers magazine

While some argue the future of cash as a payment medium, others are cashing in on coins.

When Waukegan, IL-based regional grocer Lewis Fresh Market placed a self-service coin redemption machine at the front of one of its stores, the benefits — both measurable and qualitative — became quite clear. For starters, store associates no longer find the need to get coins from the local bank or a coin service. When patrons dump their loose change in the Cummins-Allison JetCoin self-service coin redemption machine in exchange for cash — as one man recently did with a backpack filled with $500 in loose change — associates are mere steps away from an endless supply of coins for their tills. That which they can't use in stores is quickly wrapped and banked using the retailer's Cummins coin wrapper system.