How RFID Improves the Customer Experience in Retail

It is abundantly clear to retail moguls and senior management teams that RFID solutions are used throughout the industry to increase efficiency over antiquated barcode technology through its capability to read multiple tags at once. After all, tags store significantly more information than a barcode, and savvy businesses have been quick to incorporate scanners and wireless technology into their process with the ability to identify and capture data, instantly.

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How RFID Meets the Evolving Needs of Retailers

Although it has existed since the 1940s, Radio Frequency Identification (RFID) has evolved dramatically into what it is today. With enhancements and changes to technology, applications and use cases, RFID is rapidly becoming an invaluable asset for the retail industry. Small RFID tags emit unique signals that allow products to be identified/tracked via remote scanners. CONTROLTEK offers RFID  solutions for any retail application. The technology, which has been used in car keys and tolling systems since the 1990s, in libraries, and in agriculture to track cattle, has evolved over time and now has much potential in meeting the evolving needs of retailers.

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Is There a Coin Shortage in the US and Should Banks Invest in Coin Bags? 

Since mid-2020, many retailers and other businesses that handle cash have posted signs asking customers to pay with exact change due to a coin shortage in the United States. But is there a coin shortage? 

In June 2020, the Federal Reserve announced that the COVID-19 pandemic had disrupted the supply chain and “normal circulation patterns for U.S. coin.” They cited decreased coin deposits (which usually come from banks, retail stores and other businesses that accept cash) as the main cause behind this disruption, along with decreased coin production at the U.S. Mint due to new measures to protect its employees. 

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What Big Banking Looks for in Tamper Evident Deposit Bags 

While banks offer many services to their clients, one of their highest priorities is cash security. Banks are trusted institutions that rely on secure cash deposits and transportation to protect their cash and their professional reputation. In order to ensure cash security, many banks and credit unions use tamper evident deposit bags to transport their cash. 

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What Managers Look for in Tamper Evident Bags for Their Casino Supplies

Casinos handle large amounts of currency and are thus susceptible to theft and violent crime. Players and employees may engage in stealing or cheating; their tactics are often hard to spot. Common security measures implemented in casinos include surveillance cameras, highly trained professionals who can spot suspicious activity, and strict enforcement of rules.

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The Future of Tamper Evident Bank Bags

Banks, armored couriers, and retailers are always in need of versatile security solutions. Tamper-evident bags help transport currency safely and securely.

Cash and coin deposit bags are becoming more feature-packed. While not new to the industry, tamper evident bank bags continue to be refined. Potential market and product trends in these bank security products show they are here to stay.

Market Forecast

Side view of gray armored truck parked on street

Those responsible for the transport, storage, and processing of cash expect tamper-evident bags to display obvious signs of security issues—but if a bag is poorly designed, it may not. In the past, some bags could be resealed by thieves or tamper indicators could appear during routine handling.

Not only is the design of these bank security products rapidly changing, but there are notable trends emerging in the global market:

  • From 2017–2022, a compound annual growth rate of 4% is anticipated.
  • The market is projected to reach US$445 million in revenue.
  • Financial institutions account for nearly 30% of the revenue share.
  • Plastic continues to be the material of choice; it is widely available, low-cost, and versatile.
  • The global plastic cash and coin deposit bag market is expected to exceed US$345 million by the end of 2022.
  • Europe is expected to continue to be the leading market, with growth opportunities in the Asia Pacific region. 1

Materials/Technologies

Vintage Bank Sign Stone Portal

The materials and technologies now incorporated into tamper-evident bags used in the financial industry are making them more secure. In most cases, they’re made of multi-layer polymer resins that improve product quality. Tamper-evident closures and warning indicators on some bags are making them more versatile forms of security equipment.

Some technologies now integrated and seen in bank cash bags, coin bags, and bundle bags sold by ControlTek, include:

  • Thermochromic ink: In the presence of heat, the ink turns red, revealing evidence the bag was tampered with.
  • Tamper-resistant closures: Press seals and triple-seals with interior adhesive improve security while cash/coins are in transit.
  • Serial numbers/barcodes: These are printed in a large format so they can be tracked using a CCTV security system.
  • Security borders/micro printing: This makes it difficult to cut and reseal the bags without altering their original configuration and design.
  • Void Messaging: This can reveal physical tampering attempts or the use of cold or chemicals to tamper with the bag.

Purchase Tamper-Evident Bags from CONTROLTEK

Money Coin Stack

Designed to reduce theft and speed up investigations, our tamper-evident bank bags help make cash handling safer. They include TripLOK™, which includes micro perforations to reveal attempts to tamper with the closure. It also features an aqua-detect ink that reveals exposure to fluids.

The CoinLOK™ single-use coin bag is resistant to breakage and has a reinforced die-cut handle with triple-ply film that withstands high-stretch forces. For cash, SafeLOK™ provides various anti-tamper features, while SafeLOK™ VT adds a pocket for checks and deposit slips. PermaLOK™ for vaults has a side-weld construction and hot melt technology for a cost-effective security solution.

To learn more about CONTROLTEK’s tamper-evident bank security products, view our online brochures, purchase from our website, or call 888-808-6970 today.

Source:

  1. https://ksusentinel.com/2021/02/23/cash-coin-deposit-bags-market-2017-latest-report-research-strategies-swot-analysis-future-development-trends-till-2022/

What You Need to Know About Tamper Evident Bank Bags Going into 2021

Tamper Evident Bank Bags Today

Although banks and armored couriers have relied on traditional zipper money bags for decades, tamper evident bank bags offer features that often cannot be matched by the typical canvas bank bag.

Tamper evident bags are specifically designed to protect the integrity of the bag’s contents and alert you if someone has attempted to take anything from the bag. For example, many tamper evident bank bags have highly visible void messaging to indicate when a bag has been tampered with.

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Top RFID Retail Solutions

What are the Top RFID Solutions Worth Considering for Your Retail Store?

Because RFID is at the forefront of retail innovation, you might be wondering if RFID solutions are right for your business. With thousands of tag form-factors on the market, it can be a daunting task to decide on the best RFID security solutions for your needs. Today we’ll go over the types of RFID solutions with suggestions for retailers in different sectors.

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Misinformation, Censorship, and Big Tech

(This article originally appeared in Loss Prevention Magazine)

The Risk It Poses for All of Us

The breach of the Capitol on January 6, 2021, and its aftermath have highlighted just how much influence social media and technology companies like Twitter and Facebook have on real-world events. On January 8, Twitter permanently banned former President Donald Trump from its platform, and many other tech companies including Facebook, Instagram, Google, and YouTube, followed with indefinite suspensions.

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CrimeScience Podcast – The Weekly Review


The Weekly Review: Episode 41 with Dr. Read Hayes, Tony D’Onofrio, Tom Meehan

This podcast originally appears in the LPRC website.

Tune in for this week’s quick update – our co-hosts discuss pool testing, Operation Warp Speed, Deloitte’s retail industry outlook, tech companies need to evolve, subscription services in retail, fake vaccine scams, global data breaches, and much more.

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The Weekly Review: Episode 40 with Dr. Read Hayes, Tony D’Onofrio, Tom Meehan

This podcast originally appears in the LPRC website.

On this week’s episode, our co-hosts discuss LPRC updates, false-flag operations, the COVID-19 vaccine black market, violent civil unrest, the Capitol, paid agitators, 2021 technology trends & predictions, and much more.

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The Weekly Review: Episode 39 with Dr. Read Hayes, Tony D’Onofrio, Tom Meehan

This podcast originally appears in the LPRC website.

Vaccination “waitlist” scams are emerging. Black Friday foot traffic down more than 52%. On this week’s episode, our co-hosts discuss these topics and much more, including COVID-19 vaccine developments, updates on the Russian state-sponsored hack, the number of security cameras deployed around the world, the increase in e-commerce sales & returns, and consumer trends of 2020.

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The Weekly Review: Episode 38 with Dr. Read Hayes, Tony D’Onofrio, Tom Meehan

This podcast originally appears in the LPRC website.

25-30 million Christmas trees are sold each year in the U.S. Retail sales increased by 9% last month. 35% of consumers shopped more this November versus last November. On this week’s episode, our co-hosts discuss these facts and much more, including the recent Russian state-sponsored hack, Interpol’s “Orange Notice”, COVID-19 vaccines logistics and IT challenges, NRF’s ORC report, BOPIS & curbside-pickup consumer ratings, and The Economist’s top trends for 2021.

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The Weekly Review: Episode 37 with Dr. Read Hayes, Tony D’Onofrio, Tom Meehan and Featured Guest Leslie Hand (IDC Retail Insights)

This podcast originally appears in the LPRC website.

By 2023, 80% of retailers will offer contactless payments and app-based scan-and-go pay systems in store, increasing conversion rates by 40% and customer retention rates by 30%. 75% of grocery ecommerce orders will be picked up at curbside or in-store. On this week’s episode, our special guest Leslie Hand, Group Vice President for IDC Retail Insights, joins our co-hosts to discuss these predictions and much more, including computer vision, biometrics, enhanced video surveillance, COVID-19’s impact, Wall Street Journal’s retail trends, and the recent U.S. government hack.

As Group Vice President for IDC Retail Insights, Leslie Hand manages the retail research team for IDC Retail Insights and conducts research digital and contactless omnichannel retail technologies, given the threats and opportunities now facing the entire retail ecosystem from evolving consumer behaviors. Hand works with retailers and technology providers on developing best practices and strategies leveraging IDC quantitative and qualitative data sets.

Before joining IDC, Ms. Hand spent 28 years in the retail industry. As an analyst, Leslie has been widely acknowledged at the person that coined the term “omni-channel”.

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