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GS1 US Cash Visibility
Money talks. We help cash handlers speak the same language.
Moving cash is vital to your business, yet a package to your home is moved and tracked with more sophistication. Just like consumers know where a package in transit is at any given time, now your organization will be able to say the same about its money.
GS1 US is working with cash industry partners to bring greater transparency and efficiency to cash logistics.
GS1 US is partnering with the financial services community to develop and adopt data standards and best practices for cash logistics affecting intensive cash users and businesses. Through this effort, a new level of Cash Visibility will enable:
In limited proof-of-concept testing with major armored carriers, Cash Visibility produced a reduction of one-half to two-thirds in dock time.
Future Cash Cycle Management Process
Coverage of GS1 Standards
Through shared Cash Visibility standards, partners can easily communicate their deposits or cash transit status throughout the cycle. Being able to “see it through” allows better oversight and security, as well as improved financial planning, through efficient, reliable control environments at each point of the supply chain.
Download the Cash Visibility Flyer.
For more information, or to participate in our discussion group, contact:
Vice President, Standards Management
T +1 609.620.8006
To learn more, visit www.gs1us.org/cashvisibility
The Federal Reserve has long been a proponent of financial industry standards that promote efficiency, stability, and resilience in payments. We look forward to partnering with the cash industry on this Cash Visibility Initiative."- Mark Gould, First Vice President and Chief Operating Officer, Federal Reserve Bank of San Francisco, and Product Director, Federal Reserve System Cash Product Office
Dunbar Armored, Inc. is partnering with GS1 US and others to share information between merchants, carriers, banks, and the Federal Reserve. By sharing data and establishing standards within the Cash Supply Chain, Dunbar is doing their part to improve the visibility of cash moving through the entire supply chain and also helps with analytics, planning, and processing."
Despite reports to the contrary, cash is here to stay. According to a 2013 survey by the FDIC, roughly a third of all households in the U.S. remain “unbanked” or “underbanked.” This is one driver of the massive amount of cash-based transactions that still exist in our marketplace today. Unfortunately we don’t effectively and efficiently track the movement of that cash once it enters the supply chain. This weakness was painfully highlighted during Hurricane Sandy in 2012. Other developed countries like Spain and Germany have already tackled this problem and we should too.”- David Hasler, Walmart, Senior Director, Global Treasury