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Cash drawers are containers designated to store in cash, loose change, and other valuables in a secure matter through various security methods. While credit cards and NFC payments are becoming the new standard when paying for goods and services in retail businesses. Cash payments are still common, especially for small businesses starting out looking to save on credit card transaction fees. According to the Federal Reserve Bank of Francisco, consumers used cash in 26 percent of transactions, cash was used heavily for small-value payments, representing 49 percent of payments under $10, and participants used cash for 35 percent of in-person payments. These numbers stress the importance that although many of your customers may use credit cards with your business, it’s still an important factor to consider because you might be missing out on an entire market of people that prefer to use cash in their transactions.
Cash drawers are versatile and come in a variety of different sizes and shapes which means that no matter the operation, AkamaiPOS can be sure to find the right match for you. Cash drawers range in prices from $100 to $400 with varying different interfaces and dividers available.