Product Description
An end-to-end integrated RCC System
Remote Cash Control (RCC), the deployment of cash Monitoring secure smart safes at merchant locations coupled Center with information reporting and provisional credit mechanisms, has been utilized for nearly 15 years Banks & ClTs as a means of improving merchant cash cycle control. Since 2004, when banks gradually began Me..hant (Retail Co) offering provisional credit based on validated currency residing at the merchant location, the indus-try has witnessed a surge in interest and adoption of these devices.
The RCC Paradigm
In a mature RCC model, there is a large population of retailers equipped with modern CSSs, where:
- Retail clusters are owned (or franchised) by a Retail Company.
- A Retail Company, based on a services agreement, is coming in collaboration with a CIT company, or directly with its bank, enjoying a number of benefits, primarily provisional credit for cash stored in the cash smart safe (CSS) device(s).
- Bank and CIT companies are monitoring the installed CSS via web communications through a Cash Monitoring Center with appropriate IT infrastructure Cash inventory is fed to the core banking IT systems
Stakeholder Commercial Relationships
An efficient RCC system is established after stakeholders accede to an agreement. Actually this is a triangular scheme, calling each stake- holder to sign an agreement with two lateral members of this scheme. The RCC company, the Bank and the CIT company are offering to the Merchant services relevant to their own domain of competence.